8-Unit Apartment
For Sale
$1,850,000
12741 35TH, Seattle, WA 98125
Reconstructed in 1999 and zoned Lowrise 2 (M), this 8-unit property offers on-site parking and a renovated pitched roof.
Property Size6,351 SF
Lot Size0.16 Acres
Price / SF$291.29
Days on Market55
Property Features for 12741 35TH
General Information
Standard status
Active
Size
6,351 SF
Lot size
0.16 Acres
Property subtype
Multi-family
Zoning
Lowrise 2 (M)
Additional Details
Cap Rate
5.39%
Road Access
Yes
Multifamily Units
8
Amenities
private balconies or patios
vaulted ceilings
on-site parking
Building Details
Year Built
1999
Year Renovated
2019
Tenancy
Multi
Listing Agency:
WPI Real Estate Services,Inc.
Listed By:
TC Wu
(206) 363-8509
Source:
Century21northhomes
Added: Jun 13
Changed: Jul 27
Last Checked: Aug 6 at 5:02AM
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 WPI Real Estate Services,Inc.
Investment Insights
Based on property information with market context.
WPI Real Estate presents an 8-unit apartment building reconstructed in 1999, with only the foundation and frame retained. The property totals 6,351 gross square feet and includes five two-bedroom units and three one-bedroom units. Many units are corner homes, and several feature vaulted ceilings with private balconies or patios. Exterior improvements include HardiPlank siding, and the pitched roof was replaced in 2019. On-site parking and easy street access support tenant convenience.
The building is situated on an approximately 7,121 square foot corner lot zoned Lowrise 2 (M). Owner financing is available with 50% down at a 5% fixed interest rate, amortized over 360 months on a 5-year term, and the property is presented with an actual cap rate of 5.39%.
The unit mix and functional layouts are designed for long-term occupancy, with the current configuration supporting ongoing income performance today.
The building is situated on an approximately 7,121 square foot corner lot zoned Lowrise 2 (M). Owner financing is available with 50% down at a 5% fixed interest rate, amortized over 360 months on a 5-year term, and the property is presented with an actual cap rate of 5.39%.
The unit mix and functional layouts are designed for long-term occupancy, with the current configuration supporting ongoing income performance today.
Key Highlights
- 8‑unit apartment building reconstructed in 1999; totals 6,351 SF GSF on a 7,121 SF corner lot
- Unit mix: 5 two‑bedroom and 3 one‑bedroom units totaling approx. 5,515 RSF
- Zoned Lowrise 2 (M) and offered at an actual cap rate of 5.39%
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 | $213.4k | $33.60 |
| − Vacancy | −$8.5k | −$1.34 |
| EGI | $204.9k | $32.26 |
| − OpEx | −$92.2k | −$14.52 |
| NOI | $112.7k | $17.74 |
6,351 SF · lease $33.60/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,672 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.05M
$1.79M – $2.39M
NOI $143,412 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,278
Businesses Nearby
Explore this area
Business Placement
Demographics for 98125, WA
42,965
Population
21,493
Households
2
Avg Household Size
37
Median Age
61%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
7,956
Density / Sq Mi
$96,725
Median Household Income
$61,552
Median Earnings
$1,856
Median Rent
$844,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Reconstructed in 1999 and zoned Lowrise 2 (M), this 8-unit property offers on-site parking and a renovated pitched roof.
Where is this apartment building located?
The property is located at 12741 35TH Seattle, WA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 8‑unit apartment building reconstructed in 1999; totals 6,351 SF GSF on a 7,121 SF corner lot; Unit mix: 5 two‑bedroom and 3 one‑bedroom units totaling approx. 5,515 RSF; Zoned Lowrise 2 (M) and offered at an actual cap rate of 5.39%
