8-Unit Apartment
For Sale
$2,695,000
2801 14th Avenue W, Seattle, WA 98119
Two-bedroom residences combine in-unit laundry, dedicated parking, and updated interiors.
Property Size6,272 SF
Lot Size0.21 Acres
Price / SF$429.69
Days on Market46
Property Features for 2801 14th Avenue W
General Information
Standard status
Active
Size
6,272 SF
Lot size
0.21 Acres
Property subtype
Multi Family
Zoning
LR3(M)
Site & Location
Neighborhood
Interbay
Units
Unit Mix
8 x 2BR/1BA (avg 784 SF)
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$22,758
Amenities
in-unit laundry
dishwashers
view windows
dedicated parking
Building Details
Building Size
6,272 SF
Year Built
1961
Listing Agency:
Paragon Real Estate Advisors
Listed By:
Will Douglas
(206) 623-8880
Source:
Mummahomes
Added: Sep 17
Changed: Oct 30
Last Checked: Oct 30 at 1:43AM
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.
Built in 1961, this 8-unit apartment property contains 6,272 square feet across eight two-bedroom, one-bathroom residences averaging 784 square feet each. The building sits on a 9,000-square-foot lot zoned LR3(M). Every unit has in-unit laundry, a dishwasher, view windows, and dedicated parking. Four apartments received full kitchen and bathroom renovations, new entry doors, and hardwood flooring; the others had mid-level interior updates.
Building work includes plumbing improvements, new hot water heaters and appliances throughout, and electrical panel replacements in four units, with all panels up to date. Six units have prefinished red oak hardwood, and one has engineered hardwood. Bathroom and kitchen exhaust fans are installed in every residence.
Building work includes plumbing improvements, new hot water heaters and appliances throughout, and electrical panel replacements in four units, with all panels up to date. Six units have prefinished red oak hardwood, and one has engineered hardwood. Bathroom and kitchen exhaust fans are installed in every residence.
Key Highlights
- 8 apartments, each with two bedrooms and one bathroom; average unit size is 784 square feet
- 6,272‑square‑foot building on a 9,000‑square‑foot LR3(M)-zoned lot
- In‑unit laundry, dishwashers, view windows, and dedicated parking in all units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,858
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,117,160
$2.1M
Cap Rate 7%
$1,512,257
$1.5M
Cap Rate 9%
$1,176,200
$1.2M
Market Conditions
NOI Build-Up for 6,272 SF
Gross rent
$199.4K $31.80/SF
− Vacancy
−$7.0K −$1.11/SF
EGI
$192.5K $30.69/SF
− OpEx
−$86.6K −$13.81/SF
NOI
$105.9K $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%
$2,117,160
Cap Rate 7%
$1,512,257
Cap Rate 9%
$1,176,200
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.76M
NOI $105,858 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,087 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
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Business Placement
Demographics for 98119, WA
26,238
Population
15,323
Households
1.7
Avg Household Size
35
Median Age
71%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
10,933
Density / Sq Mi
$125,021
Median Household Income
$74,038
Median Earnings
$1,963
Median Rent
$1,032,500
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 - Two-bedroom residences combine in-unit laundry, dedicated parking, and updated interiors.
Where is this apartment building located?
The property is located at 2801 14th Avenue W Seattle, WA.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: 8 apartments, each with two bedrooms and one bathroom; average unit size is 784 square feet; 6,272‑square‑foot building on a 9,000‑square‑foot LR3(M)-zoned lot; In‑unit laundry, dishwashers, view windows, and dedicated parking in all units
