4-Unit Quadplex with Laundry
429 1st Avenue N, Algona, WA 98001
For Sale
$995,000
Four two-bedroom apartments include dishwashers, washer and dryer connections, and on-site parking.
Property Size3,000 SF
Lot Size0.29 Acres
Price / SF$331.67
Days on Market22
Property Features for 429 1st Avenue N
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Tenant in Place
Amenities
dishwasher
washer/dryer hookups
Building Details
Year Built
Buildings
Listing Agency:
Pacific Residential Brokers
(253) 507-5442
Listed By:
Tom O'Brien · License #18200
(253) 988-0080
Source:
Dalewalters
Added: Oct 16
Changed: Nov 6
Last Checked: Nov 6 at 2:54PM
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 Pacific Residential Brokers
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Investment Insights
Based on property information with market context.
This 1981 quadplex contains four apartments, each with two bedrooms and one bathroom. Each unit measures approximately 750 square feet and has a dishwasher plus washer and dryer hookups. The building totals 3,000 SF, with ample parking on a 12,700-square-foot lot.
The property is near Highway 167, shopping, and dining in Algona, Washington.
The property is near Highway 167, shopping, and dining in Algona, Washington.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- Approximately 750 square feet per apartment; 3,000 SF total building area
- 12,700‑square‑foot lot with ample parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,599
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,011,980
$1.0M
Cap Rate 7%
$722,843
$722.8K
Cap Rate 9%
$562,211
$562.2K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$76.5K $25.50/SF
− Vacancy
−$4.2K −$1.41/SF
EGI
$72.3K $24.09/SF
− OpEx
−$21.7K −$7.23/SF
NOI
$50.6K $16.87/SF
Area
King County, WA
Vacancy
5.51%
Lease Rate
$25.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,011,980
Cap Rate 7%
$722,843
Cap Rate 9%
$562,211
Alternative Uses
Best Use
Multifamily LT 5
$722.8K
$632.5K – $843.3K
NOI $50,599 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$666.1K
$582.9K – $777.2K
NOI $46,629 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,110 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 98001, WA
36,073
Population
12,369
Households
2.9
Avg Household Size
39
Median Age
28%
College-Educated
87%
High-School Grad
18.6 sq mi
ZIP Area
1,939
Density / Sq Mi
$107,218
Median Household Income
$54,332
Median Earnings
$1,927
Median Rent
$538,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in King County, WA
Properties on Market for Quadplexes in King County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments include dishwashers, washer and dryer connections, and on-site parking.
Where is this quadplex located?
The property is located at 429 1st Avenue N Algona, WA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; Approximately 750 square feet per apartment; 3,000 SF total building area; 12,700‑square‑foot lot with ample parking
