5-Unit Apartment
17416 97th Ave SW, Vashon, WA 98070
For Sale
$1,295,000
The unit mix ranges from studios to three-bedroom apartments on an R12-zoned parcel.
Property Size4,160 SF
Lot Size0.75 Acres
Price / SF$311.30
Days on Market58
Property Features for 17416 97th Ave SW
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Amenities
private washer & dryer
fireplaces
Building Details
Year Built
Listing Agency:
COMPASS
Listed By:
Connie Sorensen · License WA #23593
(206) 819-7669
Source:
Handrisrealty
Added: Sep 14
Changed: Nov 1
Last Checked: Nov 10 at 12:41PM
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 COMPASS
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Investment Insights
Based on property information with market context.
The 4,160-square-foot apartment property contains five units: one studio, two 2-bedroom/1-bath apartments and two 3-bedroom/1-bath apartments. The building dates to 1957 and has a newly installed roof. Most apartments include a private washer and dryer, and four have fireplaces. The property occupies a 0.75-acre parcel with R12 zoning and six water shares.
Two contiguous R12SO-zoned parcels are also available, with six additional water shares. Acquiring all three parcels would bring the total to 12 water shares alongside the existing multifamily property.
Two contiguous R12SO-zoned parcels are also available, with six additional water shares. Acquiring all three parcels would bring the total to 12 water shares alongside the existing multifamily property.
Key Highlights
- Five units: one studio, two 2‑bedroom/1‑bath apartments and two 3‑bedroom/1‑bath apartments
- 4,160 square feet on a 0.75‑acre parcel
- R12 zoning and 6 water shares on the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,659
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,293,180
$1.3M
Cap Rate 7%
$923,700
$923.7K
Cap Rate 9%
$718,433
$718.4K
Market Conditions
NOI Build-Up for 4,160 SF
Gross rent
$124.8K $30.00/SF
− Vacancy
−$7.2K −$1.74/SF
EGI
$117.6K $28.26/SF
− OpEx
−$52.9K −$12.72/SF
NOI
$64.7K $15.54/SF
Area
King County, WA
Vacancy
5.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,293,180
Cap Rate 7%
$923,700
Cap Rate 9%
$718,433
Alternative Uses
Best Use
Apartment 5plus
$923.7K
$808.2K – $1.08M
NOI $64,659 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$1.42M
$1.24M – $1.66M
NOI $99,341 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 98070, WA
11,055
Population
5,616
Households
2
Avg Household Size
53
Median Age
52%
College-Educated
98%
High-School Grad
36.9 sq mi
ZIP Area
300
Density / Sq Mi
$115,750
Median Household Income
$55,850
Median Earnings
$1,444
Median Rent
$717,700
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in King County, WA
Properties on Market for Apartment buildings in King County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix ranges from studios to three-bedroom apartments on an R12-zoned parcel.
Where is this apartment building located?
The property is located at 17416 97th Ave SW Vashon, WA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Five units: one studio, two 2‑bedroom/1‑bath apartments and two 3‑bedroom/1‑bath apartments; 4,160 square feet on a 0.75‑acre parcel; R12 zoning and 6 water shares on the property
