Future 3-Unit Condominium
12017 5th Avenue SW #a Seattle, WA 98146
For Sale
$1,050,000
Mostly completed 3-unit condominium with SFR and DADU plans.
Property Size3,776 SF
Lot Size0.26 Acres
Price / SF$278.07
Days on Market317
Property Features for 12017 5th Avenue SW #a
General Information
- Standard status
- Active
- Size
- 3,776 SF
- Lot size
- 0.26 Acres
- Property subtype
- Land or Vacant Lot
Listing Agency:
WINDERMERE REAL ESTATE M2 LLC
(425) 776-9580
Listed By:
BARRY THARP
Source:
Corcoran
Added: Sep 11, 2025
Changed: Jul 10
Last Checked: Jul 23 at 9:17AM
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 WINDERMERE REAL ESTATE M2 LLC
Investment Insights
Based on property information with market context.
This property presents a unique opportunity to complete a future 3-unit condominium project. The plans include a 2,176 square foot single-family residence (SFR), an 800 square foot ADA unit, and an 800 square foot DADU. Millwork and LVP flooring are mostly installed. The property is situated on a quiet, private easement off of 5th Avenue SW, with close proximity to a nearby elementary school. The property is sold As-Is.
Key Highlights
- Mostly completed 3‑unit condominium project, ready for your finishing touches.
- Includes plans for a 2,176 sq.ft. SFR, an 800 sq.ft. ADA unit, and an 800 sq.ft. DADU.
- Millwork is mostly installed.
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 | $120.1k | $31.80 |
| − Vacancy | −$4.2k | −$1.11 |
| EGI | $115.9k | $30.69 |
| − OpEx | −$52.1k | −$13.81 |
| NOI | $63.7k | $16.88 |
3,776 SF · lease $31.80/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$910.4K
$796.6K – $1.06M
NOI $63,731 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$994.0K – $1.33M
NOI $79,521 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Mostly completed 3-unit condominium with SFR and DADU plans.
Where is this apartment building located?
The property is located at 12017 5th Avenue SW #a Seattle, WA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Mostly completed 3‑unit condominium project, ready for your finishing touches.; Includes plans for a 2,176 sq.ft. SFR, an 800 sq.ft. ADA unit, and an 800 sq.ft. DADU.; Millwork is mostly installed.
