Seattle Multifamily Investment
For Sale
$1,900,000
Pending
4912 Evanston Ave N, Seattle, WA 98103
9-unit apartment building near Woodland Park Zoo.
Property Size5,000 SF
Days on Market111
Property Features for 4912 Evanston Ave N
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Commercial
Building Details
Year Built
1955
Listing Agency:
LAKE & COMPANY REAL ESTATE
Listed By:
ERIK ZAUGG
Source:
Corcoran
Added: Apr 11
Changed: Jul 10
Last Checked: Jul 23 at 6:56AM
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 LAKE & COMPANY REAL ESTATE
Investment Insights
Based on property information with market context.
This 9-unit apartment building is located in Seattle, directly across from Woodland Park Zoo. Known as the "Zoo-plex", the property features one basement studio and eight one-bedroom units. The units have hardwood floors and mid-century character. Common amenities include laundry facilities and individual storage units. Off-street parking is available for two vehicles. The property has been maintained and includes a newer boiler, roof, and sewer line. This property is an investment opportunity in a desirable neighborhood.
Key Highlights
- Prime Seattle location directly across from Woodland Park Zoo.
- Strong value‑add opportunity with potential to increase rents or renovate units.
- Well‑maintained building with recent updates including a newer boiler, roof, and sewer line.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $153.0k | $30.60 |
| − Vacancy | −$8.0k | −$1.59 |
| EGI | $145.0k | $29.01 |
| − OpEx | −$65.3k | −$13.05 |
| NOI | $79.8k | $15.95 |
5,000 SF · lease $30.60/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$997.2K – $1.33M
NOI $79,774 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,480 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,432
Businesses Nearby
Explore this area
Business Placement
Demographics for 98103, WA
53,056
Population
27,857
Households
1.9
Avg Household Size
35
Median Age
77%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
11,534
Density / Sq Mi
$127,372
Median Household Income
$80,508
Median Earnings
$2,006
Median Rent
$1,012,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 9-unit apartment building near Woodland Park Zoo.
Where is this apartment building located?
The property is located at 4912 Evanston Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Prime Seattle location directly across from Woodland Park Zoo.; Strong value‑add opportunity with potential to increase rents or renovate units.; Well‑maintained building with recent updates including a newer boiler, roof, and sewer line.
