Updated 2-Unit
For Sale
$985,000
1543 15th Ave S, Seattle, WA 98144
Two renovated residences offer separate utility rooms, private heating systems, and shared outdoor space.
Property Size2,490 SF
Price / SF$395.58
Days on Market13
Property Features for 1543 15th Ave S
General Information
Standard status
Active
Size
2,490 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
fully fenced yard
deck
Building Details
Year Built
1905
Buildings
1
Listing Agency:
COMPASS
Listed By:
Kevin Lam
(347) 989-5267
Source:
Pugetsoundpropertyguide
Added: Oct 11
Changed: Oct 21
Last Checked: Oct 20 at 9:51PM
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 COMPASS
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Investment Insights
Based on property information with market context.
This 2,490-square-foot legal duplex contains two residences, each with three bedrooms and two full bathrooms. Both interiors were rebuilt from the framing, with updated plumbing and electrical, vinyl windows, engineered hardwood flooring, and individual gas forced-air furnaces. Kitchens have granite counters and stainless steel appliances; each unit also includes a utility room. The property was built in 1905, with a replacement roof in 2024 and exterior painting completed in 2025.
Outdoor features include a fenced yard and deck, four off-street parking spaces, and a detached one-car garage. The property is in North Beacon Hill, near Beacon Hill Light Rail and with access to I-5 and I-90.
Outdoor features include a fenced yard and deck, four off-street parking spaces, and a detached one-car garage. The property is in North Beacon Hill, near Beacon Hill Light Rail and with access to I-5 and I-90.
Key Highlights
- Legal duplex with two 3‑bedroom, 2‑bath residences
- 2,490 square feet; built in 1905
- Both units rebuilt with updated plumbing and electrical
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,943
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$898,860
$898.9K
Cap Rate 7%
$642,043
$642.0K
Cap Rate 9%
$499,367
$499.4K
Market Conditions
NOI Build-Up for 2,490 SF
Gross rent
$67.2K $27.00/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$64.2K $25.79/SF
− OpEx
−$19.3K −$7.74/SF
NOI
$44.9K $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 Rate 5%
$898,860
Cap Rate 7%
$642,043
Cap Rate 9%
$499,367
Alternative Uses
Best Use
Multifamily LT 5
$642.0K
$561.8K – $749.1K
NOI $44,943 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$600.4K
$525.3K – $700.4K
NOI $42,026 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$749.1K
$655.5K – $874.0K
NOI $52,439 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 98144, WA
32,178
Population
16,381
Households
2
Avg Household Size
38
Median Age
62%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
9,464
Density / Sq Mi
$94,051
Median Household Income
$65,078
Median Earnings
$1,805
Median Rent
$890,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two renovated residences offer separate utility rooms, private heating systems, and shared outdoor space.
Where is this duplex located?
The property is located at 1543 15th Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Legal duplex with two 3‑bedroom, 2‑bath residences; 2,490 square feet; built in 1905; Both units rebuilt with updated plumbing and electrical
