Fully Remodeled
For Sale
$1,799,948
4617 189TH, Seatac, WA 98188
Fully remodeled 4-plex with three-bedroom units, in-unit washer/dryer, and new electrical, plumbing, and mini-split systems.
Property Size3,996 SF
Price / SF$450.44
Days on Market276
Property Features for 4617 189TH
General Information
Standard status
Active
Size
3,996 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
in-unit washer and dryer
security system hookups
car charging stations
ADA-compliant unit
private balconies
covered patios
Building Details
Year Built
1970
Listing Agency:
John L. Scott,Inc
Listed By:
Phillip T. Rodocker · License #23636
(206) 914-7252
Source:
Skylineproperties
Added: Jan 26
Changed: Oct 27
Last Checked: Oct 28 at 8:59AM
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 John L. Scott,Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This fully remodeled four-plex offers updated, modern interiors in each unit, with three bedrooms and an open-concept living layout. Improvements include new electrical and plumbing, along with mini-split heating/cooling systems, all brought up to current code. Each unit includes in-unit washer and dryer and security system hookups. The property also features on-site car charging stations, with one ADA-compliant unit included for accessibility.
The upper units offer private balconies, while the lower units include covered patios. Conveniently located minutes to I-5 access and Sea-Tac International Airport, the property is also within walking distance to public transportation. It’s near Westfield Southcenter, community parks, schools, and shopping.
Per the provided remarks, the owner may offer financing terms with 20–25% down and a 4% interest rate with a 30-year do in 10 structure.
The upper units offer private balconies, while the lower units include covered patios. Conveniently located minutes to I-5 access and Sea-Tac International Airport, the property is also within walking distance to public transportation. It’s near Westfield Southcenter, community parks, schools, and shopping.
Per the provided remarks, the owner may offer financing terms with 20–25% down and a 4% interest rate with a 30-year do in 10 structure.
Key Highlights
- Fully remodeled 4‑plex (year built 1970) with modern, open‑concept 3‑bedroom units
- Top‑to‑bottom renovation includes new electrical, new plumbing, and new mini‑split systems
- Each unit includes an in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,398
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,347,960
$1.3M
Cap Rate 7%
$962,829
$962.8K
Cap Rate 9%
$748,867
$748.9K
Market Conditions
NOI Build-Up for 3,996 SF
Gross rent
$101.9K $25.50/SF
− Vacancy
−$5.6K −$1.41/SF
EGI
$96.3K $24.09/SF
− OpEx
−$28.9K −$7.23/SF
NOI
$67.4K $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%
$1,347,960
Cap Rate 7%
$962,829
Cap Rate 9%
$748,867
Alternative Uses
Best Use
Multifamily LT 5
$962.8K
$842.5K – $1.12M
NOI $67,398 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$887.3K
$776.4K – $1.04M
NOI $62,110 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,035 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 98188, WA
27,851
Population
12,025
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
3,438
Density / Sq Mi
$76,559
Median Household Income
$45,245
Median Earnings
$1,641
Median Rent
$452,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully remodeled 4-plex with three-bedroom units, in-unit washer/dryer, and new electrical, plumbing, and mini-split systems.
Where is this quadplex located?
The property is located at 4617 189TH Seatac, WA.
What is the asking price?
The asking price for this property is $1,799,948.
What are key features of this property?
This property features: Fully remodeled 4‑plex (year built 1970) with modern, open‑concept 3‑bedroom units; Top‑to‑bottom renovation includes new electrical, new plumbing, and new mini‑split systems; Each unit includes an in‑unit washer and dryer
