17-Unit Apartment
New
For Sale
$4,195,000
3023 20th Ave W, Seattle, WA 98199
The multifamily property comprises a single building in Seattle’s Magnolia submarket.
Property Size11,712 SF
Price / SF$358.18
Days on Market2
Property Features for 3023 20th Ave W
General Information
Standard status
Active
Size
11,712 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
17
Building Details
Building Size
11,712 SF
Year Built
1991
Buildings
1
Listed By:
Ryan Downing · License #WA #2512
(206) 466-9147
Source:
Sperrycga
Added: Oct 19
Last Checked: Oct 19 at 2:08PM
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 Ryan Downing
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Investment Insights
Based on property information with market context.
The property is a 17-unit apartment building in Seattle’s Magnolia submarket. Its 11,712-square-foot building was constructed in 1991.
Located at 3023 20th Ave W, the property is in Seattle, Washington.
Located at 3023 20th Ave W, the property is in Seattle, Washington.
Key Highlights
- 17‑unit multifamily property
- One 11,712 SF building
- Built in 1991
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$197,673
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,953,460
$4.0M
Cap Rate 7%
$2,823,900
$2.8M
Cap Rate 9%
$2,196,367
$2.2M
Market Conditions
NOI Build-Up for 11,712 SF
Gross rent
$372.4K $31.80/SF
− Vacancy
−$13.0K −$1.11/SF
EGI
$359.4K $30.69/SF
− OpEx
−$161.7K −$13.81/SF
NOI
$197.7K $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%
$3,953,460
Cap Rate 7%
$2,823,900
Cap Rate 9%
$2,196,367
Alternative Uses
Best Use
Apartment 5plus
$2.82M
$2.47M – $3.29M
NOI $197,673 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.52M
$3.08M – $4.11M
NOI $246,651 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
17
Residential units
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Explore this area
Business Placement
Demographics for 98199, WA
22,549
Population
10,737
Households
2.1
Avg Household Size
39
Median Age
77%
College-Educated
99%
High-School Grad
4.2 sq mi
ZIP Area
5,369
Density / Sq Mi
$176,729
Median Household Income
$99,361
Median Earnings
$2,461
Median Rent
$1,160,000
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 - The multifamily property comprises a single building in Seattle’s Magnolia submarket.
Where is this apartment building located?
The property is located at 3023 20th Ave W Seattle, WA.
What is the asking price?
The asking price for this property is $4,195,000.
What are key features of this property?
This property features: 17‑unit multifamily property; One 11,712 SF building; Built in 1991
