Multibuilding Apartment
For Sale
$5,600,000
6230 S 129th St, Seattle, WA 98178
The 35-unit property combines apartment homes and townhomes with shared outdoor amenities and on-site laundry.
Property Size30,329 SF
Lot Size1.64 Acres
Price / SF$184.64
Days on Market15
Property Features for 6230 S 129th St
General Information
Standard status
Active
Size
30,329 SF
Net Rentable
30,043 SF
Total Parking Spaces
49
Lot size
1.64 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
35
Amenities
central courtyard
leasing office
on-site laundry
barbecue and picnic areas
Building Details
Year Built
1978
Buildings
5
Listing Agency:
Westlake Associates, Inc.
Listed By:
David W Petersen · License #7352
(206) 623-8880
Source:
Nwwashingtonhomesforsale
Added: Oct 2
Changed: Oct 15
Last Checked: Oct 16 at 9:02AM
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 Westlake Associates, Inc.
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Investment Insights
Based on property information with market context.
This Seattle apartment property comprises 35 units across five residential buildings on approximately 1.64 acres. Built in 1978, it offers a mix of one-, two-, three-, and four-bedroom apartments and townhomes. Shared features include a central courtyard, barbecue and picnic areas, a leasing office, on-site laundry, and 49 off-street parking spaces.
Key Highlights
- 35 units across five residential buildings
- Approximately 1.64 acres at 6230 S 129th St, Seattle, WA 98178
- Unit mix includes one-, two-, three-, and four‑bedroom apartments and townhomes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$511,888
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,237,760
$10.2M
Cap Rate 7%
$7,312,686
$7.3M
Cap Rate 9%
$5,687,644
$5.7M
Market Conditions
NOI Build-Up for 30,329 SF
Gross rent
$964.5K $31.80/SF
− Vacancy
−$33.8K −$1.11/SF
EGI
$930.7K $30.69/SF
− OpEx
−$418.8K −$13.81/SF
NOI
$511.9K $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%
$10,237,760
Cap Rate 7%
$7,312,686
Cap Rate 9%
$5,687,644
Alternative Uses
Best Use
Apartment 5plus
$7.31M
$6.40M – $8.53M
NOI $511,888 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.12M
$7.98M – $10.65M
NOI $638,720 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
35
Residential units
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 98178, WA
26,122
Population
10,018
Households
2.6
Avg Household Size
39
Median Age
36%
College-Educated
86%
High-School Grad
4.9 sq mi
ZIP Area
5,331
Density / Sq Mi
$93,786
Median Household Income
$52,123
Median Earnings
$1,836
Median Rent
$628,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The 35-unit property combines apartment homes and townhomes with shared outdoor amenities and on-site laundry.
Where is this apartment building located?
The property is located at 6230 S 129th St Seattle, WA.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: 35 units across five residential buildings; Approximately 1.64 acres at 6230 S 129th St, Seattle, WA 98178; Unit mix includes one-, two-, three-, and four‑bedroom apartments and townhomes
