Three-Property Multifamily
For Sale
$2,200,000
1526 Harrington Ave NE, Renton, WA 98056
Rented properties offer month-to-month occupancy while planning and development feasibility are evaluated.
Property Size4,810 SF
Price / SF$457.38
Days on Market199
Property Features for 1526 Harrington Ave NE
General Information
Standard status
Active
Size
4,810 SF
Property subtype
Multi-Family
Building Details
Year Built
1943
Buildings
3
Listing Agency:
Whisper Real Estate
Listed By:
Mike Chaffee · License #27621
(425) 505-2169
Source:
Searchhomesinbellingham
Added: Apr 1
Changed: Oct 1
Last Checked: Oct 14 at 11:41PM
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 Whisper Real Estate
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Investment Insights
Based on property information with market context.
This multifamily offering combines three Renton properties: 2801 NE 16th Street, 2733 NE 16th Street, and 1526 Harrington Avenue NE. The properties are offered together or potentially separately, subject to seller approval, and include an existing structure dating to 1943.
All three properties are currently rented under month-to-month leases, providing holding income during planning, permitting, and feasibility review. The assemblage may support development of approximately 12 townhomes, subject to City of Renton approval, applicable zoning, permits, utilities, design requirements, and buyer feasibility analysis.
All three properties are currently rented under month-to-month leases, providing holding income during planning, permitting, and feasibility review. The assemblage may support development of approximately 12 townhomes, subject to City of Renton approval, applicable zoning, permits, utilities, design requirements, and buyer feasibility analysis.
Key Highlights
- Three‑property multifamily assemblage in Renton, WA
- Addresses include 2801 NE 16th Street, 2733 NE 16th Street, and 1526 Harrington Avenue NE
- Potential for approximately 12 townhomes, subject to City of Renton approval and feasibility review
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,659
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,573,180
$1.6M
Cap Rate 7%
$1,123,700
$1.1M
Cap Rate 9%
$873,989
$874.0K
Market Conditions
NOI Build-Up for 4,810 SF
Gross rent
$153.0K $31.80/SF
− Vacancy
−$9.9K −$2.07/SF
EGI
$143.0K $29.73/SF
− OpEx
−$64.4K −$13.38/SF
NOI
$78.7K $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%
$1,573,180
Cap Rate 7%
$1,123,700
Cap Rate 9%
$873,989
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$983.2K – $1.31M
NOI $78,659 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,703 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 98056, WA
36,344
Population
15,609
Households
2.3
Avg Household Size
38
Median Age
44%
College-Educated
88%
High-School Grad
7.6 sq mi
ZIP Area
4,782
Density / Sq Mi
$108,596
Median Household Income
$59,170
Median Earnings
$1,992
Median Rent
$726,300
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?
Multifamily property - Rented properties offer month-to-month occupancy while planning and development feasibility are evaluated.
Where is this multifamily property located?
The property is located at 1526 Harrington Ave NE Renton, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Three‑property multifamily assemblage in Renton, WA; Addresses include 2801 NE 16th Street, 2733 NE 16th Street, and 1526 Harrington Avenue NE; Potential for approximately 12 townhomes, subject to City of Renton approval and feasibility review
