1214 137th St, Seattle, WA 98133
12-unit multifamily property near Northgate Light Rail Station.
- Added:
- Oct 10, 2024
- Days on Market:
- 611
- Last Refresh:
- May 10 at 10:52 pm
Property Features for 1214 137th St
General Information
- Standard status
- Active
- Size
- 12,104 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1988
Listing agent STEVEN CHATTIN
Listing office BERKADIA REAL ESTATE ADVISORS, LLC
Listing date Oct 10, 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 BERKADIA REAL ESTATE ADVISORS, LLC
HighLights
- Proximity to Northgate Light Rail Station.
- Minutes from Seattle Kraken headquarters and practice facility.
- Close to the redeveloped Northgate Mall.
- Easy access to downtown Seattle (less than 10 miles).
- Recently renovated (built in 1988).
- Opportunity to implement a value‑add program by upgrading remaining classic units.
Overview
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 | $384.9k | $31.80 |
| − Vacancy | −$16.2k | −$1.34 |
| EGI | $368.7k | $30.46 |
| − OpEx | −$165.9k | −$13.71 |
| NOI | $202.8k | $16.76 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.343
- Latitude
- 47.7289
