Five-Unit Apartment
For Sale
$1,650,000
2822 14th Ave W, Seattle, WA 98119
Mid-century property with dedicated basement storage serving every apartment.
Property Size4,288 SF
Price / SF$384.79
Days on Market47
Property Features for 2822 14th Ave W
General Information
Standard status
Active
Size
4,288 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
5
Amenities
dedicated storage unit
Building Details
Year Built
1962
Buildings
1
Listed By:
Ron Rougeaux
(360) 338-8355
Source:
Pnwhomesgroup
Added: Sep 4
Changed: Oct 5
Last Checked: Oct 14 at 10:57PM
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 Ron Rougeaux
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Investment Insights
Based on property information with market context.
Located at 2822 14th Ave W in Seattle, this 4,288-square-foot apartment property contains five residential units within a building constructed in 1962. Each apartment is paired with its own dedicated storage unit in the basement, adding practical resident storage to the configuration.
The property sits on Queen Anne’s western slope with access to Interbay, Ballard, Fremont, Magnolia, Downtown Seattle, and Highway 99. Restaurants, cafés, shopping, parks, and major employment centers are also identified in the surrounding area. The building and units are described as being in good condition, and a pre-listing inspection report is available upon request.
The property sits on Queen Anne’s western slope with access to Interbay, Ballard, Fremont, Magnolia, Downtown Seattle, and Highway 99. Restaurants, cafés, shopping, parks, and major employment centers are also identified in the surrounding area. The building and units are described as being in good condition, and a pre-listing inspection report is available upon request.
Key Highlights
- Five residential units in a 4,288‑square‑foot apartment building
- Constructed in 1962
- Dedicated basement storage unit for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,372
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,447,440
$1.4M
Cap Rate 7%
$1,033,886
$1.0M
Cap Rate 9%
$804,133
$804.1K
Market Conditions
NOI Build-Up for 4,288 SF
Gross rent
$136.4K $31.80/SF
− Vacancy
−$4.8K −$1.11/SF
EGI
$131.6K $30.69/SF
− OpEx
−$59.2K −$13.81/SF
NOI
$72.4K $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%
$1,447,440
Cap Rate 7%
$1,033,886
Cap Rate 9%
$804,133
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$904.7K – $1.21M
NOI $72,372 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,304 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Mid-century property with dedicated basement storage serving every apartment.
Where is this apartment building located?
The property is located at 2822 14th Ave W Seattle, WA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Five residential units in a 4,288‑square‑foot apartment building; Constructed in 1962; Dedicated basement storage unit for each apartment
