Vacant Fourplex with
1953 10th Ave W, Seattle, WA 98119
For Sale
$1,495,000
Delivered vacant with in-unit laundry, basement storage, and LR1 (M) zoning.
Property Size3,550 SF
Lot Size0.17 Acres
Days on Market54
Property Features for 1953 10th Ave W
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
in-unit laundry
basement storage
Building Details
Building Size
Year Built
Listing Agency:
LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES
Listed By:
Candice Chevaillier, CCIM
(206) 773-2694
Source:
Lee-associates
Added: Sep 22
Changed: Nov 4
Last Checked: Nov 12 at 4:30AM
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 LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES
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Investment Insights
Based on property information with market context.
This fourplex is offered vacant, providing immediate control of the property for occupancy, renovation, or repositioning. Built in 1906, the property includes in-unit laundry, basement storage, seven parking spaces, and two garage spaces. The parcel measures 7,200 square feet and carries LR1 (M) zoning.
Located at 1953 10th Ave W in Seattle’s Queen Anne neighborhood, the property provides access to nearby Queen Anne amenities. The zoning and lot size may support future townhome redevelopment potential, subject to buyer verification. The existing fourplex configuration and vacant delivery allow the next owner to determine the preferred operating or improvement strategy.
Located at 1953 10th Ave W in Seattle’s Queen Anne neighborhood, the property provides access to nearby Queen Anne amenities. The zoning and lot size may support future townhome redevelopment potential, subject to buyer verification. The existing fourplex configuration and vacant delivery allow the next owner to determine the preferred operating or improvement strategy.
Key Highlights
- Fourplex delivered vacant
- 7,200 square foot lot with LR1 (M) zoning
- Seven parking spaces, including two garage spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,076
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,281,520
$1.3M
Cap Rate 7%
$915,371
$915.4K
Cap Rate 9%
$711,956
$712.0K
Market Conditions
NOI Build-Up for 3,550 SF
Gross rent
$95.9K $27.00/SF
− Vacancy
−$4.3K −$1.22/SF
EGI
$91.5K $25.79/SF
− OpEx
−$27.5K −$7.74/SF
NOI
$64.1K $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 Rate 5%
$1,281,520
Cap Rate 7%
$915,371
Cap Rate 9%
$711,956
Alternative Uses
Best Use
Multifamily LT 5
$915.4K
$801.0K – $1.07M
NOI $64,076 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$855.9K
$749.0K – $998.6K
NOI $59,916 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$1.07M
$934.5K – $1.25M
NOI $74,762 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
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Business Placement
Demographics for 98119, WA
26,238
Population
15,323
Households
1.7
Avg Household Size
35
Median Age
71%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
10,933
Density / Sq Mi
$125,021
Median Household Income
$74,038
Median Earnings
$1,963
Median Rent
$1,032,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Seattle, WA
Properties on Market for Quadplexes in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Delivered vacant with in-unit laundry, basement storage, and LR1 (M) zoning.
Where is this quadplex located?
The property is located at 1953 10th Ave W Seattle, WA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Fourplex delivered vacant; 7,200 square foot lot with LR1 (M) zoning; Seven parking spaces, including two garage spaces
