Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    423 155Th St Burien, WA 98166

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $1,475,000

    Well-maintained apartment property in a desirable, walkable location.

    Property Features for 423 155Th St

    General Information

    Standard status
    Contract

    Building Details

    Year built
    2009

    We can help!

    Listing Contact
    Tanner Fogle
    Source: Corcoran

    Listing Agency: PARAGON REAL ESTATE ADVISORS Listing Agent: Tanner Fogle

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Burien Eight-Unit Apartment Community

    Burien 8 is an eight-unit apartment community located in Burien, Washington, constructed in 2009. The property offers investors the opportunity to acquire a well-maintained apartment property in a desirable, walkable location. It benefits from modern construction standards and a low-maintenance ownership profile. With a 94 Walk Score, Burien 8 provides tenants immediate access to restaurants, shopping, grocers, nightlife, and public transit.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Burien
    County
    King
    State
    Washington
    Longitude
    -122.35
    Latitude
    47.4539

    Nearby Similar for Sale

    • $1,800,000

      Automotive Business & Real Estate

      Automotive business and real estate for sale in prime location.
      823 SW 148 St, Burien, WA
      View Details
    • $2,500,000

      Retail Property for Sale

      Retail property available for purchase in Burien, Washington.
      15743 Ambaum Blvd SW, Burien, WA
      View Details
    • Contact for pricing
      900 SF

      Multi-Tenant Office Building For Sale

      Multi-tenant office building near freeways and airport in Opportunity Zone.
      144 SW 153 St, Burien, WA
      View Details
    • Contact for pricing
      2,920 SF

      Fully Leased Retail Property

      Retail property near shopping center with development opportunities.
      15805 1 Ave S, Burien, WA
      View Details
    • Contact for pricing
      4,251 SF

      Mixed-Use Building in Downtown Burien

      Mixed-use building with redevelopment potential in a prime location.
      620 SW 150 St, Burien, WA
      View Details
    • Contact for pricing
      8,474 SF

      Burien Warehouse For Sale

      8,474 SF warehouse property available in Burien, Washington.
      912 SW 146Th Ln, Burien, WA 98166
      View Details
    • $1,800,000

      Automotive Shop Building For Sale

      Automotive shop building for sale with upside potential.
      823 148Th St, Burien, WA 98166
      View Details
    • Contact for pricing
      14,425 SF

      Well-Maintained Warehouse with Income Potential

      Two-building property with renovated office and warehouse space for sale.
      15106 10 Ave SW, Burien, WA
      View Details
    • $1,600,000
      6,422 SF

      Historic Mixed-Use Property in Burien

      Mixed-use property with investment potential in the heart of Olde Burien.
      2038 152Nd St, Burien, WA 98166
      View Details
    • $5,800,000

      Well-Maintained 24-Unit Apartment Building

      24 units, 2 beds/2 baths, laundry, fireplace, decks/patios.
      13232 Ambaum Blvd SW, Burien, WA 98146
      View Details
    • $310,000

      Burien Commercial Corner Lot Investment

      Prime Burien location, high traffic, commercial zoning.
      1606 128Th St, Burien, WA 98168
      View Details
    • $3,100,000

      Burien Commercial Multifamily Portfolio

      High-Yield Investment Opportunity in Burien
      11616 Ambaum Blvd, Burien, WA 98146
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained apartment property in a desirable, walkable location.
    Where is this apartment building located?
    The property is located at 423 155Th St Burien, WA.
    What is the asking price?
    The asking price for this property is $1,475,000.
    What are key features of this property?
    This property features: - High Walk Score of 94, providing immediate access to amenities like restaurants, shopping, and public transit.; - Built in 2009, offering modern construction standards.; - Opportunity for immediate income upside through lease-up and rent optimization.
    Request Owner's contact information
    423 155Th St Burien, WA 98166
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    423 155Th St
    Burien, WA 98166
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    423 155Th St Burien, WA 98166
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tanner Fogle
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!