Updated Triplex with Private Outdoor
For Sale
$1,649,500
5208 Sand Point Way NE, Seattle, WA 98105
Three separately entered units offer updated interiors, individual laundry, and dedicated outdoor areas.
Property Size3,510 SF
Price / SF$469.94
Days on Market50
Property Features for 5208 Sand Point Way NE
General Information
Standard status
Active
Size
3,510 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Bryant
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1.75BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1958
Listing Agency:
WILCOX REAL ESTATE
Listed By:
Charles and Janette Wilcox · License #NWM94690
(253) 256-1721
Source:
Wilcoxrealestatewa
Added: Sep 18
Changed: Oct 26
Last Checked: Nov 6 at 7:43AM
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 WILCOX REAL ESTATE
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Investment Insights
Based on property information with market context.
This 3,510-square-foot triplex, built in 1958, contains three distinct residences: a 3BD/1.75BA unit, a 2BD/1BA unit, and a 1BD/1BA unit. Each apartment has its own entrance, updated finishes, modern appliances, brick fireplace, gas heating, and in-unit laundry. Outdoor features include a large patio, balcony, new composition deck and railing, and front porch. Two larger units include single-car garages, while additional on-site and off-street parking is available. The property also includes a fenced backyard with rear-gate access and received fresh exterior paint in 2025.
Located on Sand Point Way NE in Seattle, the property is minutes from UW, Magnuson Park, Seattle Children's, University Village, shopping, dining, transit, and the Burke-Gilman Trail.
Located on Sand Point Way NE in Seattle, the property is minutes from UW, Magnuson Park, Seattle Children's, University Village, shopping, dining, transit, and the Burke-Gilman Trail.
Key Highlights
- 3,510 SF triplex with 3BD/1.75BA, 2BD/1BA, and 1BD/1BA units
- Fresh exterior paint completed in 2025
- Each unit includes a private entrance, in‑unit laundry, fireplace, gas heating, and outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,354
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,267,080
$1.3M
Cap Rate 7%
$905,057
$905.1K
Cap Rate 9%
$703,933
$703.9K
Market Conditions
NOI Build-Up for 3,510 SF
Gross rent
$94.8K $27.00/SF
− Vacancy
−$4.3K −$1.22/SF
EGI
$90.5K $25.79/SF
− OpEx
−$27.2K −$7.74/SF
NOI
$63.4K $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%
$1,267,080
Cap Rate 7%
$905,057
Cap Rate 9%
$703,933
Alternative Uses
Best Use
Multifamily LT 5
$905.1K
$791.9K – $1.06M
NOI $63,354 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$846.3K
$740.5K – $987.4K
NOI $59,241 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$1.06M
$924.0K – $1.23M
NOI $73,920 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,082
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 Triplexes in Seattle, WA
Properties on Market for Triplexes in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three separately entered units offer updated interiors, individual laundry, and dedicated outdoor areas.
Where is this triplex located?
The property is located at 5208 Sand Point Way NE Seattle, WA.
What is the asking price?
The asking price for this property is $1,649,500.
What are key features of this property?
This property features: 3,510 SF triplex with 3BD/1.75BA, 2BD/1BA, and 1BD/1BA units; Fresh exterior paint completed in 2025; Each unit includes a private entrance, in‑unit laundry, fireplace, gas heating, and outdoor space
