Two-Unit Duplex with Separate
For Sale
$975,000
1701 19th Avenue S, Seattle, WA 98144
Duplex offers two 2-bedroom units, each with a private attached garage and separate electrical meter.
Property Size1,723 SF
Price / SF$565.87
Days on Market190
Property Features for 1701 19th Avenue S
General Information
Standard status
Active
Size
1,723 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Net Operating Income
$44,631
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,100
Amenities
Vinyl,Carpet
Yes
No
2
Electric
1
Corner Lot,Curbs,Paved,Sidewalk
Public
5
100' x 50'
0.1148
Stucco,Wood,Wood Products
Poured Concrete
1723
3
Building Details
Building Size
1,723 SF
Year Built
1981
Stories
2
Listing Agency:
Ballpark Realty
(503) 716-8644
Listed By:
Kerri Pyeatt
(503) 305-1761
Source:
Premierepropertygroup
Added: Mar 4
Changed: Sep 9
Last Checked: Sep 10 at 6:54AM
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 Ballpark Realty
Investment Insights
Based on property information with market context.
This duplex is designed for separate living while keeping ownership simple, featuring two 2-bedroom, 1-bath units. Each unit is on one level and includes a dedicated, private attached garage space, along with additional storage. Interior updates include new carpet, and the property offers shared coin-operated laundry and a community yard.
The duplex is positioned in Seattle’s North Beacon Hill neighborhood with quick access to downtown Seattle and the Eastside, as well as I-90 and I-5. Multiple bus lines are nearby.
Each unit has a separate electrical meter, supporting independent utility billing. There are also three additional driveway parking spaces for added convenience.
The duplex is positioned in Seattle’s North Beacon Hill neighborhood with quick access to downtown Seattle and the Eastside, as well as I-90 and I-5. Multiple bus lines are nearby.
Each unit has a separate electrical meter, supporting independent utility billing. There are also three additional driveway parking spaces for added convenience.
Key Highlights
- Duplex with two 2‑bed/1‑bath units, each unit 764 SF
- Separate electrical meter for each unit
- Each unit has dedicated private attached garage space, plus 3 additional driveway parking spaces (5 total)
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
$31,099
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
3.19%
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%
$621,980
$622.0K
Cap Rate 7%
$444,271
$444.3K
Cap Rate 9%
$345,544
$345.5K
Market Conditions
NOI Build-Up for 1,723 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
$46.5K $27.00/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$44.4K $25.79/SF
− OpEx
−$13.3K −$7.74/SF
NOI
$31.1K $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%
$621,980
Cap Rate 7%
$444,271
Cap Rate 9%
$345,544
Alternative Uses
Best Use
Multifamily LT 5
$444.3K
$388.7K – $518.3K
NOI $31,099 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$415.4K
$363.5K – $484.7K
NOI $29,081 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$518.4K
$453.6K – $604.8K
NOI $36,286 @ 7.0% cap · market cap 3.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,154
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex offers two 2-bedroom units, each with a private attached garage and separate electrical meter.
Where is this duplex located?
The property is located at 1701 19th Avenue S Seattle, WA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Duplex with two 2‑bed/1‑bath units, each unit 764 SF; Separate electrical meter for each unit; Each unit has dedicated private attached garage space, plus 3 additional driveway parking spaces (5 total)
