Remodeled Four-Unit
For Sale
$1,799,948
4617 S 189th St, Seatac, WA 98188
Fully updated multifamily property with three-bedroom residences, private outdoor areas, and modern building systems.
Property Size3,960 SF
Price / SF$454.53
Days on Market54
Property Features for 4617 S 189th St
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Amenities
in-unit washer and dryer
security system hookups
on-site car charging stations
private balconies
covered patios
ADA-compliant unit
Building Details
Year Built
1970
Buildings
1
Listing Agency:
John L. Scott, Inc
Listed By:
Phillip T. Rodocker · License #23636
(425) 227-9200
Source:
Livnserverealestate
Added: Aug 26
Changed: Oct 9
Last Checked: Oct 7 at 12:53PM
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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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 3,960 square feet and was built in 1970. The building has undergone a comprehensive renovation that includes updated electrical and plumbing systems, mini-split heating and cooling, and improvements completed to current code. Each residence offers three bedrooms, open-concept living areas, in-unit laundry, and connections for security systems. One unit is ADA compliant. Upper-level homes include private balconies, while the lower-level residences have covered patios. On-site vehicle charging stations add another practical feature for residents.
The property is located in SeaTac near I-5, Sea-Tac International Airport, public transportation, Westfield Southcenter, parks, schools, and shopping. Public transit is within walking distance, providing convenient access to surrounding destinations.
The property is located in SeaTac near I-5, Sea-Tac International Airport, public transportation, Westfield Southcenter, parks, schools, and shopping. Public transit is within walking distance, providing convenient access to surrounding destinations.
Key Highlights
- Four‑unit building with 3,960 square feet, built in 1970
- Each residence includes three bedrooms and open‑concept living space
- Comprehensive renovation with new electrical, plumbing, and mini‑split systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,791
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,335,820
$1.3M
Cap Rate 7%
$954,157
$954.2K
Cap Rate 9%
$742,122
$742.1K
Market Conditions
NOI Build-Up for 3,960 SF
Gross rent
$101.0K $25.50/SF
− Vacancy
−$5.6K −$1.41/SF
EGI
$95.4K $24.09/SF
− OpEx
−$28.6K −$7.23/SF
NOI
$66.8K $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%
$1,335,820
Cap Rate 7%
$954,157
Cap Rate 9%
$742,122
Alternative Uses
Best Use
Multifamily LT 5
$954.2K
$834.9K – $1.11M
NOI $66,791 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$879.3K
$769.4K – $1.03M
NOI $61,550 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,026 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
352
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully updated multifamily property with three-bedroom residences, private outdoor areas, and modern building systems.
Where is this quadplex located?
The property is located at 4617 S 189th St 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: Four‑unit building with 3,960 square feet, built in 1970; Each residence includes three bedrooms and open‑concept living space; Comprehensive renovation with new electrical, plumbing, and mini‑split systems
