Apartment Building with Off-Street
For Sale
$1,500,000
2600 NE 125th St, Seattle, WA 98125
Apartment building offering one- and two-bedroom units with on-site laundry, storage, and five off-street parking spaces.
Property Size4,800 SF
Days on Market98
Property Features for 2600 NE 125th St
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
5
Property subtype
Multifamily
Occupancy
95%
Site & Location
Neighborhood
Olympic Hills
Additional Details
Cap Rate
6.08%
Amenities
Flexible one- and two-bedroom unit mix with efficient floor plans
Recent capital improvements including roof replacement and electrical upgrades
On-site laundry, storage units, and dedicated off street parking
Convenient access to Seattle, the Eastside, and major regional employment centers.
Building Details
Building Size
4,800 SF
Units
8
Tenancy
Multi
Listing Agency:
Seattle Office
(206) 826-5700
Listed By:
Jake Morse · License #WA: 20120840
(206) 826-5788
Source:
Marcusmillichap
Added: Jul 18
Changed: Oct 21
Last Checked: Oct 23 at 3:21AM
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 Seattle Office
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Investment Insights
Based on property information with market context.
This multifamily apartment building offers a flexible unit mix of one- and two-bedroom residences. The property provides efficient floor plans with on-site laundry facilities and dedicated storage units for residents. Recent capital improvements include a roof replacement completed approximately six years ago and the installation of modern Square D electrical panels.
The building includes five off-street parking spaces, along with ample neighborhood street parking for residents and guests. The property also benefits from convenient access to Seattle, the Eastside, and North King County, supporting connectivity to employment centers throughout the Puget Sound region.
With its practical on-site amenities, parking availability, and completed exterior and electrical upgrades, the property is positioned to support ongoing residential operations.
The building includes five off-street parking spaces, along with ample neighborhood street parking for residents and guests. The property also benefits from convenient access to Seattle, the Eastside, and North King County, supporting connectivity to employment centers throughout the Puget Sound region.
With its practical on-site amenities, parking availability, and completed exterior and electrical upgrades, the property is positioned to support ongoing residential operations.
Key Highlights
- Multifamily apartment building with a flexible unit mix of 1- and 2‑bedroom residences
- Average unit size of approximately 600 SF
- Capital improvements include roof replacement completed about six years ago and new Square D electrical panels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,156
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,703,120
$1.7M
Cap Rate 7%
$1,216,514
$1.2M
Cap Rate 9%
$946,178
$946.2K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$161.3K $33.60/SF
− Vacancy
−$6.5K −$1.34/SF
EGI
$154.8K $32.26/SF
− OpEx
−$69.7K −$14.52/SF
NOI
$85.2K $17.74/SF
Area
ZIP 98125
Vacancy
4.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,703,120
Cap Rate 7%
$1,216,514
Cap Rate 9%
$946,178
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,156 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.55M
$1.35M – $1.81M
NOI $108,389 @ 7.0% cap · market cap 7.23%
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
1,461
Businesses Nearby
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Business Placement
Demographics for 98125, WA
42,965
Population
21,493
Households
2
Avg Household Size
37
Median Age
61%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
7,956
Density / Sq Mi
$96,725
Median Household Income
$61,552
Median Earnings
$1,856
Median Rent
$844,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building offering one- and two-bedroom units with on-site laundry, storage, and five off-street parking spaces.
Where is this apartment building located?
The property is located at 2600 NE 125th St Seattle, WA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Multifamily apartment building with a flexible unit mix of 1- and 2‑bedroom residences; Average unit size of approximately 600 SF; Capital improvements include roof replacement completed about six years ago and new Square D electrical panels
