Ravenna Terrace Multifamily Investment
For Sale
$2,250,000
5101 Ravenna Ave NE, Seattle, WA 98105
Seven-unit building in Ravenna neighborhood with attractive mix of units.
Property Size4,800 SF
Days on Market432
Property Features for 5101 Ravenna Ave NE
General Information
Standard status
Active
Size
4,800 SF
Class
B
Property subtype
Multifamily
Site & Location
Neighborhood
Ravenna
Building Details
Building Size
4,800 SF
Year Built
1956
Listed By:
Daniel Lim
(206) 928-2311
Source:
Lee-associates
Added: Sep 1, 2025
Changed: Nov 4
Last Checked: Nov 6 at 7:09AM
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 Daniel Lim
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Investment Insights
Based on property information with market context.
The Ravenna Terrace is a seven-unit building located in the Ravenna neighborhood. The property features a mix of six 2-bed units and one 1-bed unit. The mid-century floorplans average in size of 686 square feet. Updates have been made to cabinetry, counters and appliances. All the windows have been replaced with double pane units, and the roof has been recoated within the last two years. Nearby economic drivers include Seattle Children's Hospital, University Village and UW Hospital as well as the University of Washington. The property is a well cared for asset.
Key Highlights
- Seven‑unit building in the highly desirable Ravenna neighborhood.
- Attractive mix of six 2‑bed and one 1‑bed units.
- Updated cabinetry, counters, and appliances in units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,014
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,620,280
$1.6M
Cap Rate 7%
$1,157,343
$1.2M
Cap Rate 9%
$900,156
$900.2K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$152.6K $31.80/SF
− Vacancy
−$5.3K −$1.11/SF
EGI
$147.3K $30.69/SF
− OpEx
−$66.3K −$13.81/SF
NOI
$81.0K $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%
$1,620,280
Cap Rate 7%
$1,157,343
Cap Rate 9%
$900,156
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $81,014 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,087 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
2,870
Businesses Nearby
Explore this area
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
$1,261,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Seven-unit building in Ravenna neighborhood with attractive mix of units.
Where is this apartment building located?
The property is located at 5101 Ravenna Ave NE Seattle, WA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Seven‑unit building in the highly desirable Ravenna neighborhood.; Attractive mix of six 2‑bed and one 1‑bed units.; Updated cabinetry, counters, and appliances in units.
