Updated Triplex with
New
For Sale
$1,595,000
1522 Taylor Ave N, Seattle, WA 98109
Updated units include in-unit laundry, dedicated parking, and mini-split systems in the owner's residence.
Property Size2,920 SF
Days on Market4
Property Features for 1522 Taylor Ave N
General Information
Standard status
Active
Size
2,920 SF
Property subtype
Multifamily
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
in-unit laundry
dedicated parking
Building Details
Building Size
2,920 SF
Year Built
1900
Listed By:
Nisha A Tomar
(253) 238-2843
Source:
Lee-associates
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 2 at 7:47PM
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 Nisha A Tomar
Investment Insights
Based on property information with market context.
This 2,920-square-foot triplex, built in 1900, includes three residential units with full-size laundry inside each unit and dedicated parking. One unit also has a tandem parking space. The owner's unit received a full remodel in 2021, including stainless steel appliances and mini-split systems.
Recent property work includes a new 50-year roof, complete electrical rewiring with a new service strike, replacement water heaters, and 2021 exterior paint and siding repairs. The property is on Taylor in Seattle's Queen Anne area, near the Gates Foundation, Amazon, Google, and Seattle Center, with a bus stop on the block.
Recent property work includes a new 50-year roof, complete electrical rewiring with a new service strike, replacement water heaters, and 2021 exterior paint and siding repairs. The property is on Taylor in Seattle's Queen Anne area, near the Gates Foundation, Amazon, Google, and Seattle Center, with a bus stop on the block.
Key Highlights
- Three‑unit triplex totaling 2,920 square feet
- New 50‑year roof and complete electrical rewiring
- All units include full‑size in‑unit laundry and dedicated parking
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
$52,705
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
3.30%
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%
$1,054,100
$1.1M
Cap Rate 7%
$752,929
$752.9K
Cap Rate 9%
$585,611
$585.6K
Market Conditions
NOI Build-Up for 2,920 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
$78.8K $27.00/SF
− Vacancy
−$3.5K −$1.22/SF
EGI
$75.3K $25.79/SF
− OpEx
−$22.6K −$7.74/SF
NOI
$52.7K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,054,100
Cap Rate 7%
$752,929
Cap Rate 9%
$585,611
Alternative Uses
Best Use
Multifamily LT 5
$752.9K
$658.8K – $878.4K
NOI $52,705 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$704.0K
$616.0K – $821.4K
NOI $49,283 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$878.5K
$768.7K – $1.02M
NOI $61,494 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,015
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?
Triplex - Updated units include in-unit laundry, dedicated parking, and mini-split systems in the owner's residence.
Where is this triplex located?
The property is located at 1522 Taylor Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Three‑unit triplex totaling 2,920 square feet; New 50‑year roof and complete electrical rewiring; All units include full‑size in‑unit laundry and dedicated parking
