4-Unit Multifamily Building Near Alki
2475 55th Avenue SW, Seattle, WA 98116
For Sale
$1,399,000
Four residences include in-unit laundry connections, private outdoor space, and assigned on-site parking.
Property Size2,894 SF
Price / SF$483.41
Days on Market27
Property Features for 2475 55th Avenue SW
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Parking per Unit
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
washer and dryer hook-up
private patio or balcony
Wood
Wood Products
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Century 21 Van Dorm Realty
(360) 943-3800
Listed By:
Kent Stottlemyre · License #34744
(360) 791-1855
Source:
Doverealtyinc
Added: Oct 13
Changed: Nov 7
Last Checked: Nov 7 at 7:04PM
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 Century 21 Van Dorm Realty
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Investment Insights
Based on property information with market context.
Built in 1988, this 2,894-square-foot multifamily property contains four rental homes: two with one bedroom and one bathroom, and two with two bedrooms and one bathroom. Each residence has washer and dryer hookups, a private patio or balcony, and one on-site parking space. The building is zoned Multi-Family and has been maintained.
The property is in West Seattle, within two blocks of Alki Beach Park. Restaurants, bars, parks, trails, bike trails, and the sandy beach are within walking distance. Downtown Seattle is less than 20 minutes away.
The property is in West Seattle, within two blocks of Alki Beach Park. Restaurants, bars, parks, trails, bike trails, and the sandy beach are within walking distance. Downtown Seattle is less than 20 minutes away.
Key Highlights
- Four units: two 1‑bedroom/1‑bathroom and two 2‑bedroom/1‑bathroom residences
- 2,894 square feet; built in 1988
- Washer and dryer hookups in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,235
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,044,700
$1.0M
Cap Rate 7%
$746,214
$746.2K
Cap Rate 9%
$580,389
$580.4K
Market Conditions
NOI Build-Up for 2,894 SF
Gross rent
$78.1K $27.00/SF
− Vacancy
−$3.5K −$1.22/SF
EGI
$74.6K $25.79/SF
− OpEx
−$22.4K −$7.74/SF
NOI
$52.2K $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%
$1,044,700
Cap Rate 7%
$746,214
Cap Rate 9%
$580,389
Alternative Uses
Best Use
Multifamily LT 5
$746.2K
$652.9K – $870.6K
NOI $52,235 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$697.8K
$610.6K – $814.1K
NOI $48,844 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$870.7K
$761.8K – $1.02M
NOI $60,947 @ 7.0% cap · market cap 4.36%
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
531
Businesses Nearby
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Business Placement
Demographics for 98116, WA
27,691
Population
14,652
Households
1.9
Avg Household Size
41
Median Age
69%
College-Educated
98%
High-School Grad
3.0 sq mi
ZIP Area
9,230
Density / Sq Mi
$130,504
Median Household Income
$86,680
Median Earnings
$2,033
Median Rent
$917,000
Median Home Value
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Market
Average Price Trend$/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 - Four residences include in-unit laundry connections, private outdoor space, and assigned on-site parking.
Where is this quadplex located?
The property is located at 2475 55th Avenue SW Seattle, WA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Four units: two 1‑bedroom/1‑bathroom and two 2‑bedroom/1‑bathroom residences; 2,894 square feet; built in 1988; Washer and dryer hookups in every unit
