Madison Manor: High-Occupancy Apartment
For Sale
$2,600,000
Pending
4738 17th Ave NE, Seattle, WA 98105
High-occupancy, low-cost, 18-unit apartment building near UW.
Property SizeContact for details
Days on Market188
Property Features for 4738 17th Ave NE
General Information
Standard status
Pending
Property subtype
Commercial
Building Details
Year Built
1909
Listing Agency:
WINDERMERE COMMERCIAL REAL ESTATE
(206) 526-5544
Listed By:
MATTHEW TOWNSEND
Source:
Corcoran
Added: Feb 13
Changed: Jul 6
Last Checked: Jul 23 at 6:42AM
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 WINDERMERE COMMERCIAL REAL ESTATE
Investment Insights
Based on property information with market context.
Madison Manor is an 18-unit apartment building near the University of Washington's Greek Row. The property has maintained high occupancy and a high capitalization rate. It is currently leased to the same group with zero vacancy for over 5 years and pre-leased until August 2027, including all deposits and cosigners. The numbers provided are actual for 2025. The building is in exemplary condition, featuring a four-level sprinkler system serviced yearly, newer double windows, a commercial furnace installed in 2022, copper plumbing, a good electrical panel and wiring, a good roof, and a commercial water tank. It received RRIO certification from the city in December 2023. The exterior was professionally painted in 2019, and the kitchens, baths, and flooring were updated in 2020. Full inspection reports are available. Madison Manor retains over 80% of its gross scheduled income year after year, benefiting from its location near the UW main entrance and the high demand of 17th Boulevard Greek Row. The property features a giant front porch and formal entry hall.
Key Highlights
- High 8.0 Cap Rate investment property with pre‑leased tenants until August 2027, ensuring immediate and stable income.
- Located in a prime location on UW Greek Row, near the main entrance, guaranteeing high demand and consistent occupancy (80+% GSI retention).
- Leased to the same group for 5+ years with zero vacancy, all deposits and cosigners in place, demonstrating tenant reliability.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,999
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
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Frequently Asked Questions
What type of property is this?
Apartment building - High-occupancy, low-cost, 18-unit apartment building near UW.
Where is this apartment building located?
The property is located at 4738 17th Ave NE Seattle, WA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: High 8.0 Cap Rate investment property with pre‑leased tenants until August 2027, ensuring immediate and stable income.; Located in a prime location on UW Greek Row, near the main entrance, guaranteeing high demand and consistent occupancy (80+% GSI retention).; Leased to the same group for 5+ years with zero vacancy, all deposits and cosigners in place, demonstrating tenant reliability.
