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4801 Henderson St Seattle, WA 98118

For Sale
$5,700,000

39-unit apartment building near light rail with value-add potential.

Property Features for 4801 Henderson St

General Information

Standard status
Active

Building Details

Year built
1962

Source: EXP REALTY, LLC Agent VLADIMIR GRIGORIEV

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Seattle Multifamily Investment Opportunity

This 39-unit apartment building is located in a high-demand Seattle submarket, situated blocks from light rail and minutes from Boeing, the Port of Seattle, and Downtown. The property includes 33 one-bedroom and 6 two-bedroom units across three levels. It offers immediate cash flow with significant upside through value-add potential. Fifteen units have been updated, including three in 2024, achieving rent premiums of approximately $400 per month. Twenty-four units remain in original condition, presenting an opportunity for renovation. Additional income potential exists through building out studio units, which could generate over $79,000 per year, as well as from paid parking, coin-operated laundry, and rentable storage. The electrical system, with 24 panels, was updated in 2010. Plumbing in 18 units was updated in 2010. Windows were replaced in 2000, and the stucco and roof were updated in 2010.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Seattle
County
King
State
Washington
Longitude
-122.2726091
Latitude
47.5231834

FAQs

What type of property is this?
Apartment building - 39-unit apartment building near light rail with value-add potential.
Where is this apartment building located?
The property is located at 4801 Henderson St Seattle, WA.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: - Stabilized 39-unit apartment building in high-demand Seattle submarket, near light rail.; - Immediate cash flow with significant value-add potential through renovation of 24 original units.; - 15 updated units already achieving ~$400/month rent premiums.
More about this property
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