24-Unit Apartment
307 Queen Anne, Seattle, WA 98109
For Sale
$4,750,000
Historic brick and terra cotta architecture frames a mix of efficiency, studio, and one-bedroom apartments near Seattle Center.
Property Size13,545 SF
Price / SF$350.68
Days on Market24
Property Features for 307 Queen Anne
General Information
Standard status
Size
Net Rentable
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
on-site laundry
Building Details
Year Built
Construction
Listing Agency:
Kidder Mathews
Listed By:
Max Frame · License #130533
(509) 494-3116
Source:
Century21northhomes
Added: Oct 16
Changed: Nov 7
Last Checked: Nov 8 at 6:26AM
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 Kidder Mathews
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Investment Insights
Based on property information with market context.
The Kenneth is a 24-unit apartment property in Seattle, built in 1925 with brick and terra cotta architecture. Its 13,545 rentable square feet include 3 efficiency apartments, 9 studios, and 12 one-bedroom units. Original hardwood flooring, millwork, and built-ins remain in the apartments. Property features include seven surface parking stalls and on-site laundry. Improvements include updated electrical panels, double-pane windows, a boiler installed in 2023, and a fire alarm panel updated in 2018.
The property is one block from Climate Pledge Arena and near Seattle Center and the Space Needle. Downtown Seattle and South Lake Union employment centers are also nearby, along with dining, shopping, and entertainment options.
The property is one block from Climate Pledge Arena and near Seattle Center and the Space Needle. Downtown Seattle and South Lake Union employment centers are also nearby, along with dining, shopping, and entertainment options.
Key Highlights
- 24 apartments: 3 efficiency units, 9 studios, and 12 one‑bedroom units
- 13,545 rentable square feet
- Built in 1925 with brick and terra cotta architecture
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$228,610
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,572,200
$4.6M
Cap Rate 7%
$3,265,857
$3.3M
Cap Rate 9%
$2,540,111
$2.5M
Market Conditions
NOI Build-Up for 13,545 SF
Gross rent
$430.7K $31.80/SF
− Vacancy
−$15.1K −$1.11/SF
EGI
$415.7K $30.69/SF
− OpEx
−$187.0K −$13.81/SF
NOI
$228.6K $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%
$4,572,200
Cap Rate 7%
$3,265,857
Cap Rate 9%
$2,540,111
Alternative Uses
Best Use
Apartment 5plus
$3.27M
$2.86M – $3.81M
NOI $228,610 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.75M
NOI $285,254 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
4,609
Businesses Nearby
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Business Placement
Demographics for 98109, WA
34,551
Population
23,162
Households
1.5
Avg Household Size
32
Median Age
78%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
18,185
Density / Sq Mi
$130,845
Median Household Income
$104,202
Median Earnings
$2,329
Median Rent
$986,000
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Seattle, WA
Properties on Market for Apartment buildings in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Historic brick and terra cotta architecture frames a mix of efficiency, studio, and one-bedroom apartments near Seattle Center.
Where is this apartment building located?
The property is located at 307 Queen Anne Seattle, WA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 24 apartments: 3 efficiency units, 9 studios, and 12 one‑bedroom units; 13,545 rentable square feet; Built in 1925 with brick and terra cotta architecture
