Seattle Multifamily Investment Opportunity

10500 51st Ave S, Seattle, WA 98178

View on Map

For Sale

$4,350,000

Multifamily property in South Seattle, near transit and amenities.

Type:Commercial

Property size:

19,200 SF

Price / SF:

$226/SF

HighLights

Excellent transit access: Steps from King County Metro bus route 107, providing access to multiple locations and the Link light rail.
Convenient location: Close proximity to a neighborhood grocer/convenience store.
Recreational opportunities: Within a mile of multiple parks and recreational spaces.
Easy access to Interstate 5: Approximately a half mile east of I‑5.
Investment opportunity: Available for sale individually or as a portfolio with other properties.
Established property: Built in 1979.

We can help!

Contact an agent

DAN SWANSON

For Sale

$4,350,000

Multifamily property in South Seattle, near transit and amenities.

Type:Commercial

Property size:

19,200 SF

Price / SF:

$226/SF

Added:: Mar 18, 2025
Days on Market:: 475
Last Refresh:: May 10 at 11:23 pm

Property Features for 10500 51st Ave S

General Information

Standard status: Active
Size: 19,200 SF
Property subtype: Commercial

Building Details

Year Built: 1979

We can help!

Contact an agent

DAN SWANSON

Listing office KIDDER MATHEWS

Listing date Mar 18, 2025

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 KIDDER MATHEWS

HighLights

Excellent transit access: Steps from King County Metro bus route 107, providing access to multiple locations and the Link light rail.
Convenient location: Close proximity to a neighborhood grocer/convenience store.
Recreational opportunities: Within a mile of multiple parks and recreational spaces.
Easy access to Interstate 5: Approximately a half mile east of I‑5.
Investment opportunity: Available for sale individually or as a portfolio with other properties.
Established property: Built in 1979.

Overview

This multifamily property is located in South Seattle, approximately a half mile east of Interstate 5. It is situated near a King County Metro bus route 107, which provides daily service to Beacon Hill, Georgetown, Lakeridge, the Renton Transit Center, and Rainier Beach Station, connecting residents to the Link light rail for access to Seattle Tacoma International Airport, Downtown Seattle, and Lynnwood. The property is located across the street from a neighborhood grocer and convenience store and within a mile of Duwamish Park, Fletcher Place, Lakeridge Park, Hutchinson Playground, and the Green Line. The property has a size of 19200 square feet. The property is available for sale individually, or as a portfolio with 8630 Rainier Ave S and/or 8340 Rainier Ave S. All financials are market figures.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$610.6k	$31.80
− Vacancy	−$21.4k	−$1.11
EGI	$589.2k	$30.69
− OpEx	−$265.1k	−$13.81
NOI	$324.1k	$16.88

19,200 SF · lease $31.80/SF/yr · vacancy 3.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$4.63M

$4.05M – $5.40M (±1% cap)

NOI $324,055 @ 7.0% cap · market cap 7.45%

Second Best

—

no second resolved use

Theoretical Best

Office A

$5.78M

$5.05M – $6.74M (±1% cap)

NOI $404,346 @ 7.0% cap · market cap 9.30%

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

Property Profile Location Intelligence

Current Use by Public Records

Crestwood Place Housing Authority Partners In Grime Construction Company

Suggested Use

Location Insight

Map
Local Demand

City: Seattle
County: King
State: Washington
Longitude: -122.27
Latitude: 47.5064

Nearby Similar for Sale

$2,600,000

4,653 SF

South Park Industrial Flex Property

Flex/warehouse building in Seattle's South Park area.

7912 7th Ave S, Seattle, WA 98108

View Details
$1,250,000

Perched Triplex with Private Parking

Triplex with in-unit laundry, northwest-facing decks, and four parking stalls accessed via a private dead-end alley.

3438 14th Avenue W, Seattle, WA 98119

View Details
$2,200,000

4,500 SF

Auto-Repair Property with Two Parcels

Auto-repair facility totaling 4,500 SF on two parcels, zoned NC3-75 (M) for flexible owner-user or development use.

4607 37th Ave SW, Seattle, WA 98126

View Details
$1,575,000

3,847 SF

Warehouse/Flex Building in Georgetown

3,847 SF warehouse/flex building with fenced storage in Seattle.

6349 6th Ave S, Seattle, WA 98108

View Details
$2,900,000

3,000 SF

Large Lot on Aurora Avenue

Versatile commercial property with ample parking and development potential.

13720 Aurora Avenue N, Seattle, WA 98133

View Details
$8,950,000

35,869 SF

Seattle Industrial Building For Sale

35,869 SF industrial building in desirable Georgetown area.

1915 S Corgiat Dr, Seattle, WA 98108

View Details
$8,950,000

35,869 SF

Seattle Industrial Building For Sale

35,869 SF industrial building in desirable Georgetown area.

1915 S Corgiat Dr, Seattle, WA 98108

View Details
$2,095,000

5,606 SF

Mixed-Use Building Near Lake Washington

Fully leased mixed-use building with parking near Lake Washington.

11463 Rainier Avenue S, Seattle, WA 98178

View Details
$2,850,000

7,842 SF

Seattle Retail/Warehouse Opportunity on Arterial

7,842 SF commercial building on 0.32 acres in Seattle.

1500 NW Leary Wy, Seattle, WA 98107

View Details
$9,800,000

11,504 SF

Seattle Flex Space For Rent

Flexible space with contemporary interiors in Seattle's Georgetown neighborhood.

5811-5819 6th Ave S, Seattle, WA

View Details
$3,400,000

9,112 SF

West Seattle Investment Opportunity

Well-maintained 9,112 SF building with long-term tenants.

6323 35th Ave SW, Seattle, WA 98126

View Details
$9,250,000

19,669 SF

Upper Queen Anne Office Building

Modern office building with rooftop deck and parking.

20 W Galer St, Seattle, WA 98119

View Details

For sale
Apartment buildings
WA
Seattle
98178
10500 51st Ave S

What type of property is this?

Apartment building - Multifamily property in South Seattle, near transit and amenities.

Where is this apartment building located?

The property is located at 10500 51st Ave S Seattle, WA.

What is the asking price?

The asking price for this property is $4,350,000.

What are key features of this property?

This property features: Excellent transit access: Steps from King County Metro bus route 107, providing access to multiple locations and the Link light rail.; Convenient location: Close proximity to a neighborhood grocer/convenience store.; Recreational opportunities: Within a mile of multiple parks and recreational spaces.

10500 51st Ave S, Seattle, WA 98178

Multifamily property in South Seattle, near transit and amenities.

Property Features for 10500 51st Ave S

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

South Park Industrial Flex Property

Perched Triplex with Private Parking

Auto-Repair Property with Two Parcels

Warehouse/Flex Building in Georgetown

Large Lot on Aurora Avenue

Seattle Industrial Building For Sale

Seattle Industrial Building For Sale

Mixed-Use Building Near Lake Washington

Seattle Retail/Warehouse Opportunity on Arterial

Seattle Flex Space For Rent

West Seattle Investment Opportunity

Upper Queen Anne Office Building

FAQs