Triplex with Detached Accessory Dwelling
228 21st Avenue E, Seattle, WA 98112
For Sale
$1,900,000
2024 triplex with detached DADU featuring mini-splits, solar panels, and full appliance packages.
Property Size3,610 SF
Days on Market165
Property Features for 228 21st Avenue E
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
full appliance packages
wall mounted mini-splits
solar panels
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Westlake Associates, Inc.
Listed By:
Matthew Weber
(206) 505-9413
Source:
Marypong
Added: Jun 2
Changed: Nov 10
Last Checked: Nov 12 at 5:44PM
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 Westlake Associates, Inc.
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Investment Insights
Based on property information with market context.
This 2024-built triplex includes a detached accessory dwelling unit (DADU) on the same property. The units feature full appliance packages, including a refrigerator, oven, over range microwave, dishwasher, and full-size washer and dryer. Heating and cooling are provided by wall-mounted mini-splits. The buildings also include solar panels on the roof.
In the triplex, two units are designated Mandatory Housing Affordability (MHA) units. Those units have restricted rent based on MHA schedules and are restricted to tenants that qualify under the program, with the designation permanent for both units. The other two units in the triplex were newly leased in early 2026. The detached DADU remains vacant, allowing the possibility of an owner occupant.
Expenses are mostly estimated.
In the triplex, two units are designated Mandatory Housing Affordability (MHA) units. Those units have restricted rent based on MHA schedules and are restricted to tenants that qualify under the program, with the designation permanent for both units. The other two units in the triplex were newly leased in early 2026. The detached DADU remains vacant, allowing the possibility of an owner occupant.
Expenses are mostly estimated.
Key Highlights
- 2024 construction for triplex and detached DADU
- Detached accessory dwelling unit (DADU) on the property
- Wall‑mounted mini‑splits for heating and cooling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,159
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,303,180
$1.3M
Cap Rate 7%
$930,843
$930.8K
Cap Rate 9%
$723,989
$724.0K
Market Conditions
NOI Build-Up for 3,610 SF
Gross rent
$97.5K $27.00/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$93.1K $25.79/SF
− OpEx
−$27.9K −$7.74/SF
NOI
$65.2K $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%
$1,303,180
Cap Rate 7%
$930,843
Cap Rate 9%
$723,989
Alternative Uses
Best Use
Multifamily LT 5
$930.8K
$814.5K – $1.09M
NOI $65,159 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$870.4K
$761.6K – $1.02M
NOI $60,929 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.09M
$950.3K – $1.27M
NOI $76,026 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,138
Businesses Nearby
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Business Placement
Demographics for 98112, WA
23,152
Population
11,670
Households
2
Avg Household Size
39
Median Age
81%
College-Educated
99%
High-School Grad
3.2 sq mi
ZIP Area
7,235
Density / Sq Mi
$162,073
Median Household Income
$84,919
Median Earnings
$2,062
Median Rent
$1,407,400
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Seattle, WA
Properties on Market for Triplexes in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - 2024 triplex with detached DADU featuring mini-splits, solar panels, and full appliance packages.
Where is this triplex located?
The property is located at 228 21st Avenue E Seattle, WA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 2024 construction for triplex and detached DADU; Detached accessory dwelling unit (DADU) on the property; Wall‑mounted mini‑splits for heating and cooling
