7-Unit Apartment Building with
2239 Yale, Seattle, WA 98102
For Sale
$2,300,000
The unit mix includes three studios, three one-bedroom apartments, and a two-bedroom penthouse with a private deck.
Property Size4,800 SF
Price / SF$479.17
Days on Market95
Property Features for 2239 Yale
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
deck
off-street parking
landscaping
outdoor spaces
laundry room
coin-operated laundry
storage
Building Details
Year Built
Tenancy
Listing Agency:
Windermere Real Estate Midtown
Listed By:
Lauren Hendricks
(206) 999-9161
Source:
Skylineproperties
Added: Aug 11
Changed: Nov 12
Last Checked: Nov 12 at 8:25AM
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 Windermere Real Estate Midtown
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Investment Insights
Based on property information with market context.
This 7-unit apartment property, built in 1962, includes three studios, three one-bedroom apartments, and a two-bedroom, 1.5-bath penthouse. The penthouse has a nearly 1,000-square-foot deck with views of the Seattle skyline, the Space Needle, Gas Works Park, and Lake Union. Copper plumbing, updated kitchens and bathrooms in five units, and new electrical panels are among the building improvements.
Residents have off-street parking, mature landscaping, separate outdoor spaces, an on-site coin-operated laundry room, and storage for each unit. The property is in Seattle’s Eastlake neighborhood, with proximity to mass transit, South Lake Union, the University of Washington, and downtown Seattle.
Residents have off-street parking, mature landscaping, separate outdoor spaces, an on-site coin-operated laundry room, and storage for each unit. The property is in Seattle’s Eastlake neighborhood, with proximity to mass transit, South Lake Union, the University of Washington, and downtown Seattle.
Key Highlights
- 7 units: 3 studios, 3 one‑bedroom apartments, and 1 two‑bedroom, 1.5‑bath penthouse
- Penthouse includes a nearly 1,000 SF deck with views of the Seattle skyline, Space Needle, Gas Works Park, and Lake Union
- Updated kitchens and bathrooms in 5 units; copper plumbing and new electrical panels throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,014
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,620,280
$1.6M
Cap Rate 7%
$1,157,343
$1.2M
Cap Rate 9%
$900,156
$900.2K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$152.6K $31.80/SF
− Vacancy
−$5.3K −$1.11/SF
EGI
$147.3K $30.69/SF
− OpEx
−$66.3K −$13.81/SF
NOI
$81.0K $16.88/SF
Area
Seattle, WA
Vacancy
3.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,620,280
Cap Rate 7%
$1,157,343
Cap Rate 9%
$900,156
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $81,014 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,087 @ 7.0% cap · market cap 4.40%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,505
Businesses Nearby
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Business Placement
Demographics for 98102, WA
25,066
Population
17,944
Households
1.4
Avg Household Size
34
Median Age
79%
College-Educated
99%
High-School Grad
1.3 sq mi
ZIP Area
19,282
Density / Sq Mi
$114,395
Median Household Income
$80,130
Median Earnings
$1,920
Median Rent
$988,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Seattle, WA
Properties on Market for Apartment buildings in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes three studios, three one-bedroom apartments, and a two-bedroom penthouse with a private deck.
Where is this apartment building located?
The property is located at 2239 Yale Seattle, WA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 7 units: 3 studios, 3 one‑bedroom apartments, and 1 two‑bedroom, 1.5‑bath penthouse; Penthouse includes a nearly 1,000 SF deck with views of the Seattle skyline, Space Needle, Gas Works Park, and Lake Union; Updated kitchens and bathrooms in 5 units; copper plumbing and new electrical panels throughout
