4-Unit Shoreline
For Sale
$1,250,000
19837 25TH, Shoreline, WA 98155
Residential income property with convenient access to Interstate 5 and regional employment, shopping, recreation, and transportation.
Property Size3,500 SF
Price / SF$357.14
Days on Market12
Property Features for 19837 25TH
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1980
Listing Agency:
The Foundation Group LLC
Listed By:
Aaron Locke
(206) 522-3400
Source:
Skylineproperties
Added: Jul 29
Changed: Aug 9
Last Checked: Aug 9 at 2:57PM
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 The Foundation Group LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property is located at 19837 25th Ave NE in Shoreline, Washington. The building was constructed in 1980, and the units offer an opportunity for modernization through a value-add plan, as described in the property information.
The property is situated in the Ballinger neighborhood, with access to Interstate 5 and connections toward Downtown Seattle, Bellevue, Lynnwood, and the greater Eastside. Shopping, recreation, employment centers, and transportation options are identified as nearby area conveniences.
The property is situated in the Ballinger neighborhood, with access to Interstate 5 and connections toward Downtown Seattle, Bellevue, Lynnwood, and the greater Eastside. Shopping, recreation, employment centers, and transportation options are identified as nearby area conveniences.
Key Highlights
- Four‑unit residential income property in Shoreline
- Constructed in 1980
- Located at 19837 25th Ave NE, Shoreline, WA 98155
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
$59,033
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
4.72%
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%
$1,180,660
$1.2M
Cap Rate 7%
$843,329
$843.3K
Cap Rate 9%
$655,922
$655.9K
Market Conditions
NOI Build-Up for 3,500 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
$89.3K $25.50/SF
− Vacancy
−$4.9K −$1.41/SF
EGI
$84.3K $24.09/SF
− OpEx
−$25.3K −$7.23/SF
NOI
$59.0K $16.87/SF
Area
King County, WA
Vacancy
5.51%
Lease Rate
$25.50 /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%
$1,180,660
Cap Rate 7%
$843,329
Cap Rate 9%
$655,922
Alternative Uses
Best Use
Multifamily LT 5
$843.3K
$737.9K – $983.9K
NOI $59,033 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$777.2K
$680.0K – $906.7K
NOI $54,401 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,129 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 98155, WA
35,948
Population
14,526
Households
2.5
Avg Household Size
41
Median Age
56%
College-Educated
95%
High-School Grad
7.5 sq mi
ZIP Area
4,793
Density / Sq Mi
$131,911
Median Household Income
$67,323
Median Earnings
$2,016
Median Rent
$758,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with convenient access to Interstate 5 and regional employment, shopping, recreation, and transportation.
Where is this quadplex located?
The property is located at 19837 25TH Shoreline, WA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Four‑unit residential income property in Shoreline; Constructed in 1980; Located at 19837 25th Ave NE, Shoreline, WA 98155
