Furnished Duplex with Daylight
For Sale
Contact for pricing
5016 SEVENTH AVE NE, Seattle, WA 98105
Two separate living areas, dual kitchens, and a private entrance support flexible occupancy and rental use.
Property Size3,000 SF
Lot Size0.10 Acres
Price / SF$308.33
Days on Market99
Property Features for 5016 SEVENTH AVE NE
General Information
Standard status
Active
Size
3,000 SF
Class
C
Total Parking Spaces
3
Lot size
0.10 Acres
Property subtype
Multifamily
Zoning
NR3
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$57,600
Property Condition
Severity
Repairs Needed
Evidence
Light, Cosmetic Value-Add
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
4BR/1BA upstairs, 3BR/0.75BA basement
Multifamily Units
2
Additional Details
Furnished
Yes
Gross Income
$72,000
Amenities
free on-site laundry
back deck
private fenced yard
secure bike storage
Building Details
Year Built
1921
Buildings
1
Stories
2
Units
2
Tenancy
Single
Listing Agency:
Crain Real Estate
Listed By:
Corey Crain · License #WA 26492
(425) 482-6100
Source:
Crexi
Added: Jul 9
Changed: Oct 3
Last Checked: Oct 14 at 9:51PM
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 Crain Real Estate
Investment Insights
Based on property information with market context.
This furnished duplex in Seattle’s University District provides two distinct living areas within a 3,000-square-foot home. The upper level includes four bedrooms and a full kitchen, while the renovated daylight basement offers three bedrooms, a separate kitchen, a ¾ bath, and its own entrance. The property also includes forced-air gas heat, two water heaters, two refrigerators, a composition roof, free on-site laundry, and a back deck opening to a private fenced yard.
An in-place lease covers the upcoming school year, and the property has a documented 20+ year history as student housing. Three-car off-street alley parking, a detached garage, secure bike storage, and both street and alley access add practical utility. The 4,280-square-foot lot is located near Trader Joe’s with quick I-5 access. NR3 zoning and the two-unit layout provide flexibility for continued room-by-room rental operations or owner occupancy of one portion while leasing the other.
An in-place lease covers the upcoming school year, and the property has a documented 20+ year history as student housing. Three-car off-street alley parking, a detached garage, secure bike storage, and both street and alley access add practical utility. The 4,280-square-foot lot is located near Trader Joe’s with quick I-5 access. NR3 zoning and the two-unit layout provide flexibility for continued room-by-room rental operations or owner occupancy of one portion while leasing the other.
Key Highlights
- 7 bedrooms, 1.75 baths, and 3,000 SF
- Two kitchens with separate upstairs and daylight‑basement living areas
- 4,280 SF lot with private fenced yard and back deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,149
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,082,980
$1.1M
Cap Rate 7%
$773,557
$773.6K
Cap Rate 9%
$601,656
$601.7K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$81.0K $27.00/SF
− Vacancy
−$3.6K −$1.22/SF
EGI
$77.4K $25.79/SF
− OpEx
−$23.2K −$7.74/SF
NOI
$54.1K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,082,980
Cap Rate 7%
$773,557
Cap Rate 9%
$601,656
Alternative Uses
Best Use
Multifamily LT 5
$773.6K
$676.9K – $902.5K
NOI $54,149 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$723.3K
$632.9K – $843.9K
NOI $50,634 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$902.6K
$789.7K – $1.05M
NOI $63,179 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,428
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate living areas, dual kitchens, and a private entrance support flexible occupancy and rental use.
Where is this duplex located?
The property is located at 5016 SEVENTH AVE NE Seattle, WA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 7 bedrooms, 1.75 baths, and 3,000 SF; Two kitchens with separate upstairs and daylight‑basement living areas; 4,280 SF lot with private fenced yard and back deck
