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    Renovated 11-Unit Villa Maria Apartments Title is generated by Realmo AI

    1146 91st St, Seattle, WA 98103

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    For Sale
    $2,275,000

    Tastefully renovated 11-unit property near Green Lake.

    Type:Commercial
    Property size:
    8,115 SF
    Price / SF:
    $280/SF
    Added:
    Jul 9, 2024
    Days on Market:
    724
    Last Refresh:
    May 10 at 11:57 pm

    Property Features for 1146 91st St

    General Information

    Standard status
    Active
    Size
    8,115 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1986

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    RYAN ILES

    Listing office PARAGON REAL ESTATE ADVISORS

    Listing date Jul 9, 2024

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of PARAGON REAL ESTATE ADVISORS

    HighLights

    • Tastefully renovated 11‑unit apartment building.
    • Located steps away from Robert Eagle Staff Middle School and Cascadia Elementary School.
    • Walking distance or short drive to North Seattle College, Northgate Station, and Green Lake.
    • Abundance of surrounding amenities and recreational opportunities.
    • Centrally located between Aurora Avenue and I‑5 for easy commuting.
    • Built in 1986 on a 7,250 SqFt lot.

    Overview

    The Villa Maria Apartments, built in 1986, feature 11 units and are located just north of Green Lake. The property is situated on a 7,250 SqFt lot, steps away from the newly built Robert Eagle Staff Middle School and Cascadia Elementary School. North Seattle College, Northgate Station, and Green Lake are within walking distance or a short drive, offering an abundance of surrounding amenities and recreational opportunities. The location is centrally located between Aurora Avenue and I-5, providing convenient access to other parts of the city. The property size is 8,115 SqFt.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $248.3k $30.60
    − Vacancy −$12.9k −$1.59
    EGI $235.4k $29.01
    − OpEx −$105.9k −$13.05
    NOI $129.5k $15.95
    8,115 SF · lease $30.60/SF/yr · vacancy 5.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.85M
    $1.62M – $2.16M (±1% cap)
    NOI $129,474 @ 7.0% cap · market cap 5.69%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $3.28M
    $2.87M – $3.83M (±1% cap)
    NOI $229,622 @ 7.0% cap · market cap 10.09%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Food Market (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Clothing & Fashion Store (Bike/Boat/Book/etc) Store Bakery Supermarket Travel Agency Restaurant Cosmetic Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.342
    Latitude
    47.6951

    FAQs

    What type of property is this?
    Apartment building - Tastefully renovated 11-unit property near Green Lake.
    Where is this apartment building located?
    The property is located at 1146 91st St Seattle, WA.
    What is the asking price?
    The asking price for this property is $2,275,000.
    What are key features of this property?
    This property features: Tastefully renovated 11‑unit apartment building.; Located steps away from Robert Eagle Staff Middle School and Cascadia Elementary School.; Walking distance or short drive to North Seattle College, Northgate Station, and Green Lake.
    More about this property
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