Two-Building Apartment
For Sale
$990,000
150 Hardie Avenue Sw 1-6, Renton, WA 98057
Commercial and multifamily zoning supports a flexible six-unit configuration with substantial interior updates.
Property Size1,968 SF
Price / SF$503.05
Days on Market80
Property Features for 150 Hardie Avenue Sw 1-6
General Information
Standard status
Active
Size
1,968 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Sixth unit can be remodeled in future
Additional Details
Road Access
Yes
Multifamily Units
6
Amenities
thermal pane windows
territorial views
common utility room with storage
Building Details
Year Built
1942
Buildings
2
Listing Agency:
RE/MAX Eastside Brokers, Inc.
Listed By:
Billy D. Caples Jr · License #CAPLEBD419CB
(206) 914-5071
Source:
Livnserverealestate
Added: Jul 30
Changed: Oct 5
Last Checked: Oct 7 at 3:48PM
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 RE/MAX Eastside Brokers, Inc.
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Investment Insights
Based on property information with market context.
This six-unit apartment property consists of two separate buildings, with five units ready for use and a sixth unit suited to future remodeling. Interior improvements include new carpet, paint, laminate flooring, interior doors, heaters, blinds, and light fixtures. Thermal-pane windows are installed throughout the units, which also offer territorial views. The property was built in 1942.
Parking includes a two-car carport and three open spaces. A shared utility room includes additional storage, and the roof has been replaced with a 50-year warranty. The property carries both commercial and multifamily zoning and is located in Renton, Washington.
Parking includes a two-car carport and three open spaces. A shared utility room includes additional storage, and the roof has been replaced with a 50-year warranty. The property carries both commercial and multifamily zoning and is located in Renton, Washington.
Key Highlights
- Two separate buildings with six total units
- Five units ready for use; sixth unit available for future remodeling
- Interior updates include carpet, paint, laminate flooring, heaters, and fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,183
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$643,660
$643.7K
Cap Rate 7%
$459,757
$459.8K
Cap Rate 9%
$357,589
$357.6K
Market Conditions
NOI Build-Up for 1,968 SF
Gross rent
$62.6K $31.80/SF
− Vacancy
−$4.1K −$2.07/SF
EGI
$58.5K $29.73/SF
− OpEx
−$26.3K −$13.38/SF
NOI
$32.2K $16.35/SF
Area
Renton, WA
Vacancy
6.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$643,660
Cap Rate 7%
$459,757
Cap Rate 9%
$357,589
Alternative Uses
Best Use
Apartment 5plus
$459.8K
$402.3K – $536.4K
NOI $32,183 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$641.2K
$561.1K – $748.1K
NOI $44,885 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,058
Businesses Nearby
Explore this area
Business Placement
Demographics for 98057, WA
13,493
Population
6,656
Households
2
Avg Household Size
38
Median Age
34%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
2,176
Density / Sq Mi
$68,097
Median Household Income
$53,994
Median Earnings
$1,767
Median Rent
$606,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Commercial and multifamily zoning supports a flexible six-unit configuration with substantial interior updates.
Where is this apartment building located?
The property is located at 150 Hardie Avenue Sw 1-6 Renton, WA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Two separate buildings with six total units; Five units ready for use; sixth unit available for future remodeling; Interior updates include carpet, paint, laminate flooring, heaters, and fixtures
