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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

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    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.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4801 Henderson St Seattle, WA 98118
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