Renovated 10-Unit Apartment
For Sale
$2,350,000
2701 Walden, Seattle, WA 98144
Updated residences feature in-unit laundry, quartz countertops, LVP flooring, and stainless steel appliances.
Property Size5,625 SF
Price / SF$417.78
Days on Market87
Property Features for 2701 Walden
General Information
Standard status
Active
Size
5,625 SF
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
10
Amenities
in-unit washer/dryer
Building Details
Year Built
1966
Buildings
1
Listing Agency:
Westlake Associates,Inc.
Listed By:
Travis Kannier
(206) 505-9400
Source:
Century21northhomes
Added: Jul 16
Changed: Oct 7
Last Checked: Oct 10 at 1:56AM
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.
Investment Insights
Based on property information with market context.
This 10-unit apartment building was constructed in 1966 and recently renovated. The 5,625-square-foot property includes upgraded residences with in-unit washer/dryer appliances, quartz countertops, LVP flooring, and stainless steel appliances. New decks, fresh exterior and common-area paint, and new carpet further contribute to the improvements. The property is zoned LR3(M).
Located in Seattle’s Mt. Baker neighborhood, the building sits near Mt. Baker Station, recreational parks, restaurants, and schools. Its setting also provides proximity to employment centers, including Seattle’s downtown CBD, while neighborhood amenities are within walking distance.
Located in Seattle’s Mt. Baker neighborhood, the building sits near Mt. Baker Station, recreational parks, restaurants, and schools. Its setting also provides proximity to employment centers, including Seattle’s downtown CBD, while neighborhood amenities are within walking distance.
Key Highlights
- 10‑unit apartment building with 5,625 square feet
- Built in 1966 and recently renovated
- In‑unit washer/dryer, quartz counters, LVP flooring, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,938
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,898,760
$1.9M
Cap Rate 7%
$1,356,257
$1.4M
Cap Rate 9%
$1,054,867
$1.1M
Market Conditions
NOI Build-Up for 5,625 SF
Gross rent
$178.9K $31.80/SF
− Vacancy
−$6.3K −$1.11/SF
EGI
$172.6K $30.69/SF
− OpEx
−$77.7K −$13.81/SF
NOI
$94.9K $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%
$1,898,760
Cap Rate 7%
$1,356,257
Cap Rate 9%
$1,054,867
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.58M
NOI $94,938 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,461 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
1,153
Businesses Nearby
Explore this area
Business Placement
Demographics for 98144, WA
32,178
Population
16,381
Households
2
Avg Household Size
38
Median Age
62%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
9,464
Density / Sq Mi
$94,051
Median Household Income
$65,078
Median Earnings
$1,805
Median Rent
$890,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated residences feature in-unit laundry, quartz countertops, LVP flooring, and stainless steel appliances.
Where is this apartment building located?
The property is located at 2701 Walden Seattle, WA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 10‑unit apartment building with 5,625 square feet; Built in 1966 and recently renovated; In‑unit washer/dryer, quartz counters, LVP flooring, and stainless steel appliances
