Corner-Lot Multifamily
525 Roy St Seattle, WA 98102
525 Roy St, Seattle, WA, 98102
$3,195,000
For Sale
$3,195,000
Corner-lot apartment building with five 2BR/1BA units, five 1BR/1BA units, and six parking spaces.
Property Size7,525 SF
Price / SF$424.58
Days on Market71
Property Features for 525 Roy St
General Information
- Standard status
- Active
- Size
- 7,525 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1957
Listing agency
KIDDER MATHEWS
(206) 296-9625
Listed by
KEN HIRATA · License #32405
Source
Corcoran
Added: May 13 Updated: Jul 21 at 2:24AM Checked: Jul 21 at 5:21AM
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
Investment Insights
Based on property information with market context.
525 Roy St is a corner-lot multifamily apartment building positioned for a turnkey ownership experience. The current unit mix includes five 2-bedroom, 1-bath units and five 1-bedroom, 1-bath units, plus an additional studio. Off-street parking is provided for up to six vehicles.
The property is set within blocks of the Harvard-Belmont Landmark District and is described as walking distance to Downtown and South Lake Union, along with Volunteer Park and Cal Anderson Park. The surrounding area also includes retail corridors along Broadway, Pike/Pine, and 15th Ave E, plus access to Link light rail and multiple bus routes. Public remarks also cite stable occupancy with a stated 5.4% cap rate and 11.5 GRM, alongside potential to increase income through rent and charge adjustments to target a 5.8% cap rate and 10.8 GRM.
The property is set within blocks of the Harvard-Belmont Landmark District and is described as walking distance to Downtown and South Lake Union, along with Volunteer Park and Cal Anderson Park. The surrounding area also includes retail corridors along Broadway, Pike/Pine, and 15th Ave E, plus access to Link light rail and multiple bus routes. Public remarks also cite stable occupancy with a stated 5.4% cap rate and 11.5 GRM, alongside potential to increase income through rent and charge adjustments to target a 5.8% cap rate and 10.8 GRM.
Key Highlights
- Corner‑lot apartment building built in 1957 with an excellent unit mix of five 2BR/1BA and five 1BR/1BA units plus one studio
- Cap rate and GRM information provided: 5.4% cap rate and 11.5 GRM based on current stable occupancy
- Potential upside noted to reach a 5.8% cap rate and 10.8 GRM by raising rents to market levels and adding parking/utility bill‑backs
Local Financial Insights For Apartment 5plus
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 | $239.3k | $31.80 |
| − Vacancy | −$8.4k | −$1.11 |
| EGI | $230.9k | $30.69 |
| − OpEx | −$103.9k | −$13.81 |
| NOI | $127.0k | $16.88 |
7,525 SF · lease $31.80/SF/yr · vacancy 3.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.81M
$1.59M – $2.12M
NOI $127,006 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,474 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Corner-lot apartment building with five 2BR/1BA units, five 1BR/1BA units, and six parking spaces.
Where is this apartment building located?
The property is located at 525 Roy St Seattle, WA.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: Corner‑lot apartment building built in 1957 with an excellent unit mix of five 2BR/1BA and five 1BR/1BA units plus one studio; Cap rate and GRM information provided: 5.4% cap rate and 11.5 GRM based on current stable occupancy; Potential upside noted to reach a 5.8% cap rate and 10.8 GRM by raising rents to market levels and adding parking/utility bill‑backs
