Upscale Townhome Portfolio Near
For Sale
$4,495,000
Pending
4270 50th St, Seattle, WA 98105
Five townhomes in prime location near Seattle Children’s Hospital.
Property Size10,100 SF
Days on Market684
Property Features for 4270 50th St
General Information
Standard status
Pending
Size
10,100 SF
Property subtype
Commercial
Building Details
Year Built
2019
Listing Agency:
MCCALLEN & SONS, INC.
(425) 822-9752
Listed By:
DANIEL FALLON
Source:
Corcoran
Added: Sep 25, 2024
Changed: Jul 6
Last Checked: Jul 23 at 9:50AM
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 MCCALLEN & SONS, INC.
Investment Insights
Based on property information with market context.
This listing features five of the six townhomes in the upscale Asana community, each on its own tax parcel. The property is located directly across from a greenbelt and steps from Seattle Children’s Hospital, in one of the strongest rental locations in the city. Residents enjoy walkability to the Burke-Gilman Trail, University of Washington, University Village, and Laurelhurst Elementary, making it a highly desirable neighborhood for both renters and long-term homeowners. Each unit offers 2,020 square feet of living space with premium finishes, attached garages, tankless water heaters, mini-split A/C, and spacious top-floor primary suites with walk-in closets and sweeping views. Natural light floods the interiors, and ample storage is provided throughout. The portfolio encompasses a total property size of 10,100 square feet.
Key Highlights
- Prime location directly across from a greenbelt and steps from Seattle Children’s Hospital, offering strong rental potential.
- Walkable to Burke‑Gilman Trail, University of Washington, University Village, and Laurelhurst Elementary.
- Each unit features 2,020 square feet of living space with premium finishes.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$170,466
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,409,320
$3.4M
Cap Rate 7%
$2,435,229
$2.4M
Cap Rate 9%
$1,894,067
$1.9M
Market Conditions
NOI Build-Up for 10,100 SF
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.
Gross rent
$321.2K $31.80/SF
− Vacancy
−$11.2K −$1.11/SF
EGI
$309.9K $30.69/SF
− OpEx
−$139.5K −$13.81/SF
NOI
$170.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,409,320
Cap Rate 7%
$2,435,229
Cap Rate 9%
$1,894,067
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.13M – $2.84M
NOI $170,466 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $212,703 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,738
Businesses Nearby
Explore this area
Business Placement
Demographics for 98105, WA
49,151
Population
20,582
Households
2.4
Avg Household Size
27
Median Age
77%
College-Educated
99%
High-School Grad
3.8 sq mi
ZIP Area
12,934
Density / Sq Mi
$78,691
Median Household Income
$34,947
Median Earnings
$1,803
Median Rent
$1,261,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five townhomes in prime location near Seattle Children’s Hospital.
Where is this apartment building located?
The property is located at 4270 50th St Seattle, WA.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: Prime location directly across from a greenbelt and steps from Seattle Children’s Hospital, offering strong rental potential.; Walkable to Burke‑Gilman Trail, University of Washington, University Village, and Laurelhurst Elementary.; Each unit features 2,020 square feet of living space with premium finishes.
