Seattle Multifamily Property For
4217 Greenwood Ave N Seattle, WA 98103
4217 Greenwood Ave N, Seattle, WA, 98103
$3,750,000
For Sale
$3,750,000
Eight-unit apartment building in Seattle's Fremont neighborhood with upside potential.
Property Size7,408 SF
Price / SF$506.21
Days on Market470
Property Features for 4217 Greenwood Ave N
General Information
- Standard status
- Active
- Size
- 7,408 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1991
Listing Agency
KIDDER MATHEWS
(206) 296-9610
Listed by
DAN SWANSON · License #13533
Source
Corcoran
Added: Apr 4, 2025 Checked: Jul 17 at 4:00 am
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
Investment Insights
Based on property information with market context.
Built in 1991, this multifamily property is located in the upper Fremont neighborhood of Seattle, four blocks north of the area's commercial corridor with entertainment, shopping, and culinary options. The property consists of eight homes, each with 2 bedrooms and 2 bathrooms, averaging approximately 880 square feet. One unit is an 1,100-square-foot penthouse featuring a large living room, walk-in closets, and an expansive deck. The building includes modern systems and sprinklers, as well as secured entry. Current rents are below market, offering potential for increased revenue without renovation.
Key Highlights
- Prime location in desirable upper Fremont, Seattle, close to entertainment, shopping, and restaurants.
- Significant rental upside potential due to below‑market rents.
- Eight well‑maintained units, each with 2 bedrooms and 2 bathrooms.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $226.7k | $30.60 |
| − Vacancy | −$11.8k | −$1.59 |
| EGI | $214.9k | $29.01 |
| − OpEx | −$96.7k | −$13.05 |
| NOI | $118.2k | $15.95 |
7,408 SF · lease $30.60/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,193 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,617 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight-unit apartment building in Seattle's Fremont neighborhood with upside potential.
Where is this apartment building located?
The property is located at 4217 Greenwood Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Prime location in desirable upper Fremont, Seattle, close to entertainment, shopping, and restaurants.; Significant rental upside potential due to below‑market rents.; Eight well‑maintained units, each with 2 bedrooms and 2 bathrooms.
