Residential Income Property with 2016
For Sale
Contact for pricing
1409 NW 54th St, Seattle, WA 98107
Residential income property on II U/125-zoned land with extensive 2016 interior updates and appliance replacements.
Property Size2,500 SF
Price / SF$340
Days on Market57
Property Features for 1409 NW 54th St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
LAND
Zoning
II U/125
Building Details
Year Renovated
2016
Listing Agency:
AgencyOne
(425) 273-6793
Listed By:
Friska Siao Ping Lim
(425) 273-6793
Source:
Moodyscre
Added: Jun 12
Changed: Jul 30
Last Checked: Aug 6 at 11:42AM
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 AgencyOne
Investment Insights
Based on property information with market context.
Residential income property totaling 2,500 square feet, described as well-maintained with existing tenants. Updates completed in 2016 included major interior improvements and appliance replacements.
The property is situated on II U/125-zoned land, offering an income-focused ownership experience while also supporting consideration of redevelopment possibilities. The address is 1409 NW 54th St, Seattle, WA 98107.
The property is situated on II U/125-zoned land, offering an income-focused ownership experience while also supporting consideration of redevelopment possibilities. The address is 1409 NW 54th St, Seattle, WA 98107.
Key Highlights
- 2,500 square feet residential income property
- II U/125‑zoned land
- Extensive 2016 interior improvements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,195
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$843,900
$843.9K
Cap Rate 7%
$602,786
$602.8K
Cap Rate 9%
$468,833
$468.8K
Market Conditions
NOI Build-Up for 2,500 SF
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.
Gross rent
$79.5K $31.80/SF
− Vacancy
−$2.8K −$1.11/SF
EGI
$76.7K $30.69/SF
− OpEx
−$34.5K −$13.81/SF
NOI
$42.2K $16.88/SF
Area
Seattle, WA
Vacancy
3.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$843,900
Cap Rate 7%
$602,786
Cap Rate 9%
$468,833
Alternative Uses
Best Use
Apartment 5plus
$602.8K
$527.4K – $703.3K
NOI $42,195 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$752.1K
$658.1K – $877.5K
NOI $52,649 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,337
Businesses Nearby
Explore this area
Business Placement
Demographics for 98107, WA
28,557
Population
16,538
Households
1.7
Avg Household Size
35
Median Age
76%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
12,980
Density / Sq Mi
$137,748
Median Household Income
$82,884
Median Earnings
$2,194
Median Rent
$924,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential income property on II U/125-zoned land with extensive 2016 interior updates and appliance replacements.
Where is this residential income property located?
The property is located at 1409 NW 54th St Seattle, WA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,500 square feet residential income property; II U/125‑zoned land; Extensive 2016 interior improvements
