Five-Unit Apartment
5030 15th Ave Ne Unit 1-5, Seattle, WA 98105
For Sale
$1,325,000
Pending
Near the University of Washington, with renovated units, parking, laundry, and storage.
Property Size4,005 SF
Days on Market60
Property Features for 5030 15th Ave Ne Unit 1-5
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
on-site laundry
storage
Building Details
Year Built
Listing Agency:
Kidder Mathews
Listed By:
Dan S. Swanson · License WA #13533
(206) 296-9610
Source:
Handrisrealty
Added: Sep 16
Changed: Nov 10
Last Checked: Nov 10 at 11:57AM
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 Kidder Mathews
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Investment Insights
Based on property information with market context.
This 4,005-square-foot apartment building, constructed in 1911, contains five units: two one-bedroom apartments and three two-bedroom apartments averaging approximately 763 square feet. The property has a pitched composition roof, on-site laundry, storage, and five off-alley parking spaces. Two apartments have been renovated, while the remaining three retain classic interiors and may be updated as units turn over.
Capital improvements include an updated electrical system with Square D panels, new sewer lines, and dual-pane windows throughout. The address is a few blocks north of the University of Washington campus, within walking distance of The Ave's retail and dining corridor. Transit connectivity provides additional access to the surrounding area and nearby institutions.
Capital improvements include an updated electrical system with Square D panels, new sewer lines, and dual-pane windows throughout. The address is a few blocks north of the University of Washington campus, within walking distance of The Ave's retail and dining corridor. Transit connectivity provides additional access to the surrounding area and nearby institutions.
Key Highlights
- Five‑unit apartment building with two one‑bedroom and three two‑bedroom units
- 4,005 SF building constructed in 1911
- Two units recently renovated; three classic units remain
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,596
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,351,920
$1.4M
Cap Rate 7%
$965,657
$965.7K
Cap Rate 9%
$751,067
$751.1K
Market Conditions
NOI Build-Up for 4,005 SF
Gross rent
$127.4K $31.80/SF
− Vacancy
−$4.5K −$1.11/SF
EGI
$122.9K $30.69/SF
− OpEx
−$55.3K −$13.81/SF
NOI
$67.6K $16.88/SF
Area
Seattle, WA
Vacancy
3.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,351,920
Cap Rate 7%
$965,657
Cap Rate 9%
$751,067
Alternative Uses
Best Use
Apartment 5plus
$965.7K
$845.0K – $1.13M
NOI $67,596 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,344 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,768
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
$1,261,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Seattle, WA
Properties on Market for Apartment buildings in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Near the University of Washington, with renovated units, parking, laundry, and storage.
Where is this apartment building located?
The property is located at 5030 15th Ave Ne Unit 1-5 Seattle, WA.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Five‑unit apartment building with two one‑bedroom and three two‑bedroom units; 4,005 SF building constructed in 1911; Two units recently renovated; three classic units remain
