Vashon Vue Apartments
For Sale
$1,725,000
22805 30th Ave S, Seattle, WA 98198
11-unit apartment building with in-place 6.5% cap rate.
Property Size7,300 SF
Price / SF$236.30
Days on Market547
Property Features for 22805 30th Ave S
General Information
Standard status
Active
Size
7,300 SF
Building Details
Year Built
1968
Listing Agency:
PARAGON REAL ESTATE ADVISORS
Listed By:
BRIAN PLATT
(206) 812-9130
Source:
Corcoran
Added: May 9, 2025
Changed: Mar 16
Last Checked: Nov 4 at 1:13PM
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 PARAGON REAL ESTATE ADVISORS
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Investment Insights
Based on property information with market context.
The Vashon Vue Apartments, an 11-unit building, offers the opportunity to acquire an in-place 6.5% current cap rate with operational upside to reach a 6.8% proforma cap rate. The property includes the opportunity to assume the existing loan with an approximate balance of $1,155,000 at a 5% interest rate fixed until January 2031. The Vashon Vue consists of four classic and four renovated 1-bedroom/1-bathroom units, each 620 square feet, along with two classic and one renovated 2-bedroom/1-bathroom units, each 780 square feet. The renovated units feature LVP flooring, formica countertops, stainless steel appliances, and a tasteful vanity package for the bathrooms. The location of the Vashon Vue offers proximity to several well-r.
Key Highlights
- Opportunity to assume existing loan with ~$1,155,000 balance at 5% interest fixed until January 2031.
- In‑place 6.5% current cap rate with operational upside to reach 6.8% proforma cap rate.
- Mix of unit types: four classic and four renovated 1‑bedroom/1‑bathroom units (620 sq ft), plus two classic and one renovated 2‑bedroom/1‑bathroom units (780 sq ft).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,208
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,464,160
$2.5M
Cap Rate 7%
$1,760,114
$1.8M
Cap Rate 9%
$1,368,978
$1.4M
Market Conditions
NOI Build-Up for 7,300 SF
Gross rent
$232.1K $31.80/SF
− Vacancy
−$8.1K −$1.11/SF
EGI
$224.0K $30.69/SF
− OpEx
−$100.8K −$13.81/SF
NOI
$123.2K $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%
$2,464,160
Cap Rate 7%
$1,760,114
Cap Rate 9%
$1,368,978
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $123,208 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,736 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 98198, WA
38,727
Population
15,267
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
7.7 sq mi
ZIP Area
5,029
Density / Sq Mi
$83,938
Median Household Income
$48,776
Median Earnings
$1,770
Median Rent
$527,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - 11-unit apartment building with in-place 6.5% cap rate.
Where is this apartment building located?
The property is located at 22805 30th Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Opportunity to assume existing loan with ~$1,155,000 balance at 5% interest fixed until January 2031.; In‑place 6.5% current cap rate with operational upside to reach 6.8% proforma cap rate.; Mix of unit types: four classic and four renovated 1‑bedroom/1‑bathroom units (620 sq ft), plus two classic and one renovated 2‑bedroom/1‑bathroom units (780 sq ft).
