Updated Multifamily Asset in
For Sale
$4,925,000
Pending
1177 Harrington Ave, Renton, WA 98056
22-unit multifamily property in Renton's Highland Park neighborhood.
Property Size20,145 SF
Days on Market471
Property Features for 1177 Harrington Ave
General Information
Standard status
Pending
Size
20,145 SF
Property subtype
Commercial
Site & Location
Neighborhood
Sunset
Building Details
Year Built
1979
Listing Agency:
PARAGON REAL ESTATE ADVISORS
Listed By:
TANNER FOGLE
Source:
Corcoran
Added: Jul 24, 2025
Changed: Oct 25
Last Checked: Nov 6 at 8:07AM
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
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Investment Insights
Based on property information with market context.
Tiffany Apartments is a 22-unit multifamily asset located in the Highland Park neighborhood of Renton, Washington. Constructed in 1979, the property has been consistently renovated over the past eight years. The property features spacious units, with a majority over 900 square feet. Each unit offers full kitchens, in-unit washers and dryers, and updated finishes. These large floor plans provide residents with generous living and dining spaces and ample storage. The property is located minutes from The Landing, Lake Washington, and major employment and retail hubs.
Key Highlights
- Desirable Highland Park neighborhood location in Renton, Washington.
- Updated asset with immediate rental upside potential.
- Large units, with a majority over 900 square feet.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$329,434
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,588,680
$6.6M
Cap Rate 7%
$4,706,200
$4.7M
Cap Rate 9%
$3,660,378
$3.7M
Market Conditions
NOI Build-Up for 20,145 SF
Gross rent
$640.6K $31.80/SF
− Vacancy
−$41.6K −$2.07/SF
EGI
$599.0K $29.73/SF
− OpEx
−$269.5K −$13.38/SF
NOI
$329.4K $16.35/SF
Area
Renton, WA
Vacancy
6.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,588,680
Cap Rate 7%
$4,706,200
Cap Rate 9%
$3,660,378
Alternative Uses
Best Use
Apartment 5plus
$4.71M
$4.12M – $5.49M
NOI $329,434 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.56M
$5.74M – $7.66M
NOI $459,451 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 98056, WA
36,344
Population
15,609
Households
2.3
Avg Household Size
38
Median Age
44%
College-Educated
88%
High-School Grad
7.6 sq mi
ZIP Area
4,782
Density / Sq Mi
$108,596
Median Household Income
$59,170
Median Earnings
$1,992
Median Rent
$726,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in King County, WA
Properties on Market for Apartment buildings in King County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 22-unit multifamily property in Renton's Highland Park neighborhood.
Where is this apartment building located?
The property is located at 1177 Harrington Ave Renton, WA.
What is the asking price?
The asking price for this property is $4,925,000.
What are key features of this property?
This property features: Desirable Highland Park neighborhood location in Renton, Washington.; Updated asset with immediate rental upside potential.; Large units, with a majority over 900 square feet.
