Residential Income
13717 32nd Avenue NE Seattle, WA 98125
For Sale
$1,250,000
Well-maintained multi-unit property with updated common-area carpet and 100% occupancy.
Property Size6,184 SF
Price / SF$202.13
Days on Market273
Property Features for 13717 32nd Avenue NE
General Information
Standard status
Active
Size
6,184 SF
Property subtype
Multi-Family
Building Details
Year Built
1969
Listing Agency:
Premiere Property Group, LLC
(503) 502-3161
Listed By:
Jennifer Lillie
(503) 502-3161
Source:
Premierepropertygroup
Added: Oct 31, 2025
Changed: Jul 21
Last Checked: Jul 30 at 2:59AM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This residential income property is described as well maintained, with new carpet installed in the common areas. The building is reportedly 100% rented and is being offered for sale as-is, with the buyer responsible for their own due diligence.
The property is located in the Lake City neighborhood, a few blocks from Lake City Way NE, which the remarks describe as supporting demographic growth and increased housing demand. The area is also noted as having efficient transit options, with King County Metro service to Seattle Downtown, Bothell, and other destinations including shopping areas, Burke-Gilman trails, and the University of Washington.
The asset is presented as a stable cash flow opportunity by the seller; however, prospective buyers should review current financials, leases, and building conditions as part of their due diligence.
The property is located in the Lake City neighborhood, a few blocks from Lake City Way NE, which the remarks describe as supporting demographic growth and increased housing demand. The area is also noted as having efficient transit options, with King County Metro service to Seattle Downtown, Bothell, and other destinations including shopping areas, Burke-Gilman trails, and the University of Washington.
The asset is presented as a stable cash flow opportunity by the seller; however, prospective buyers should review current financials, leases, and building conditions as part of their due diligence.
Key Highlights
- 3‑story multi‑unit building with 6,184 total building area
- Year built 1969; foundation is slab
- 100% rented occupancy reported
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 | $207.8k | $33.60 |
| − Vacancy | −$8.3k | −$1.34 |
| EGI | $199.5k | $32.26 |
| − OpEx | −$89.8k | −$14.52 |
| NOI | $109.7k | $17.74 |
6,184 SF · lease $33.60/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,709 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.99M
$1.75M – $2.33M
NOI $139,641 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Well-maintained multi-unit property with updated common-area carpet and 100% occupancy.
Where is this multifamily property located?
The property is located at 13717 32nd Avenue NE Seattle, WA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3‑story multi‑unit building with 6,184 total building area; Year built 1969; foundation is slab; 100% rented occupancy reported
