Income Duplex with
5230 16th Avenue NE Seattle, WA 98105
For Sale
$2,550,000
8-bed main house plus newer 3-bed DADU, with tenants paying utilities and substantial rental income reported.
Property Size4,030 SF
Price / SF$632.75
Days on Market128
Property Features for 5230 16th Avenue NE
General Information
- Standard status
- Active
- Size
- 4,030 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1922
Listing Agency:
Real Property Associates
(503) 757-6995
Listed By:
Marla Knauss · License #900400187
(503) 757-6995
Source:
Premierepropertygroup
Added: Mar 18
Changed: Jul 22
Last Checked: Jul 23 at 3:32AM
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 Real Property Associates
Investment Insights
Based on property information with market context.
This duplex-style residential income property includes an 8-bed main house and a newer 3-bed DADU. The home features radiant in-floor heat and mini-split systems, along with a renovated basement and remodeled interior areas including the kitchen and powder room. The property has also undergone significant infrastructure upgrades, including new electrical and plumbing.
According to the provided remarks, the property is generating $15,100 per month ($181,200 per year) in rental income, with “true zero vacancy,” and tenants pay all utilities. A stabilized NOI of approximately $160K is also referenced in the listing materials.
The property is listed for $2.55M, and the remarks describe the asset as an established, upgraded income offering in the University District area at 5230 16th Avenue NE, Seattle, WA 98105.
According to the provided remarks, the property is generating $15,100 per month ($181,200 per year) in rental income, with “true zero vacancy,” and tenants pay all utilities. A stabilized NOI of approximately $160K is also referenced in the listing materials.
The property is listed for $2.55M, and the remarks describe the asset as an established, upgraded income offering in the University District area at 5230 16th Avenue NE, Seattle, WA 98105.
Key Highlights
- 8‑bed main house plus a newer 3‑bed DADU on a 0.0992‑acre lot
- Reported rental income of $15,100/month ($181,200/year) with tenants paying all utilities
- Stated stabilized NOI of approximately $160K; listed at $2.55M (about 6.4% cap rate / 14× GRM)
Financial Insights For Multifamily LT 5
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 | $108.8k | $27.00 |
| − Vacancy | −$4.9k | −$1.22 |
| EGI | $103.9k | $25.79 |
| − OpEx | −$31.2k | −$7.74 |
| NOI | $72.7k | $18.05 |
4,030 SF · lease $27.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$909.2K – $1.21M
NOI $72,739 @ 7.0% cap · market cap 2.85%
Second Best
Apartment 5plus
$971.7K
$850.2K – $1.13M
NOI $68,018 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,871 @ 7.0% cap · market cap 3.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - 8-bed main house plus newer 3-bed DADU, with tenants paying utilities and substantial rental income reported.
Where is this duplex located?
The property is located at 5230 16th Avenue NE Seattle, WA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 8‑bed main house plus a newer 3‑bed DADU on a 0.0992‑acre lot; Reported rental income of $15,100/month ($181,200/year) with tenants paying all utilities; Stated stabilized NOI of approximately $160K; listed at $2.55M (about 6.4% cap rate / 14× GRM)
