Six-Unit Apartment
New
For Sale
$1,650,000
1300 6th Ave N, Seattle, WA 98109
Well-maintained six-unit apartment built in 1962 with current rents approximately 23% below market.
Days on Market3
Property Features for 1300 6th Ave N
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Multifamily Units
6
Building Details
Building Size
4,300 SF
Year Built
1962
Buildings
1
Listing Agency:
Lee & Associates Commercial Real Estate Services
(425) 576-8747
Listed By:
Troy Gessel
Source:
Lee-associates
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 31 at 4:59AM
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 Lee & Associates Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This well-maintained six-unit apartment building offers investors in-place income with room to adjust rents. Built in 1962, the property is positioned as a straightforward execution opportunity through routine tenant turnover and market rent adjustments, with current rents approximately 23% below market.
Located in Seattle’s Lower Queen Anne neighborhood, the building benefits from a highly desirable urban setting while remaining focused on operational simplicity rather than major capital improvements.
With six units and an established, maintained asset profile, the property is designed to support steady occupancy operations and incremental income growth through natural lease-up and turnover.
Located in Seattle’s Lower Queen Anne neighborhood, the building benefits from a highly desirable urban setting while remaining focused on operational simplicity rather than major capital improvements.
With six units and an established, maintained asset profile, the property is designed to support steady occupancy operations and incremental income growth through natural lease-up and turnover.
Key Highlights
- Six‑unit apartment building
- Well‑maintained asset profile
- Current rents approximately 23% below market
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 | $136.7k | $31.80 |
| − Vacancy | −$4.8k | −$1.11 |
| EGI | $132.0k | $30.69 |
| − OpEx | −$59.4k | −$13.81 |
| NOI | $72.6k | $16.88 |
4,300 SF · lease $31.80/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$907.2K – $1.21M
NOI $72,575 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,557 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,090
Businesses Nearby
Explore this area
Business Placement
Demographics for 98109, WA
34,551
Population
23,162
Households
1.5
Avg Household Size
32
Median Age
78%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
18,185
Density / Sq Mi
$130,845
Median Household Income
$104,202
Median Earnings
$2,329
Median Rent
$986,000
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 - Well-maintained six-unit apartment built in 1962 with current rents approximately 23% below market.
Where is this apartment building located?
The property is located at 1300 6th Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six‑unit apartment building; Well‑maintained asset profile; Current rents approximately 23% below market
