10-Unit Apartment
7101 6TH Unit 1-10, Seattle, WA 98115
For Sale
$2,900,000
Renovated apartments, in-unit laundry, and dedicated parking support this established multifamily property.
Property Size7,746 SF
Lot Size0.16 Acres
Price / SF$374.39
Days on Market94
Property Features for 7101 6TH Unit 1-10
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Financials
Cap Rate
Gross Rent Multiplier
Site & Location
Neighborhood
Highway Access
Public Transit
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
Kidder Mathews
Listed By:
Dan S. Swanson · License WA #13533
(206) 296-9610
Source:
Century21northhomes
Added: Aug 13
Changed: Nov 12
Last Checked: Nov 12 at 8:08AM
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
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Investment Insights
Based on property information with market context.
Greenlake Arms is a 10-unit apartment property built in 1969, with 7,746 square feet on a 7,000-SF parcel. Approximately half of the units have been renovated with updated kitchens and in-unit laundry. Every unit includes dual-pane windows, nearly all have updated electrical panels, and the supply plumbing includes a combination of copper and PEX. Parking accommodates 11 vehicles, including 6 covered spaces and 5 uncovered spaces.
The property is located near Green Lake, with the Green Lake PCC approximately a 1-minute walk away and Green Lake Park approximately a 3-minute walk away. The location has a Walk Score of 89 and provides access to Interstate 5, Link light rail, downtown Seattle, and the Eastside. Current operations reflect a 5.7% cap rate and an 11.3 GRM.
The property is located near Green Lake, with the Green Lake PCC approximately a 1-minute walk away and Green Lake Park approximately a 3-minute walk away. The location has a Walk Score of 89 and provides access to Interstate 5, Link light rail, downtown Seattle, and the Eastside. Current operations reflect a 5.7% cap rate and an 11.3 GRM.
Key Highlights
- 10‑unit apartment community built in 1969
- 7,746 SF building on a 7,000‑SF parcel
- 5.7% cap rate and 11.3 GRM based on current operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,054
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,341,080
$2.3M
Cap Rate 7%
$1,672,200
$1.7M
Cap Rate 9%
$1,300,600
$1.3M
Market Conditions
NOI Build-Up for 7,746 SF
Gross rent
$222.2K $28.68/SF
− Vacancy
−$9.3K −$1.20/SF
EGI
$212.8K $27.48/SF
− OpEx
−$95.8K −$12.36/SF
NOI
$117.1K $15.11/SF
Area
ZIP 98115
Vacancy
4.20%
Lease Rate
$28.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,341,080
Cap Rate 7%
$1,672,200
Cap Rate 9%
$1,300,600
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $117,054 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.10M
$2.71M – $3.62M
NOI $217,173 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,742
Businesses Nearby
Explore this area
Business Placement
Demographics for 98115, WA
54,322
Population
24,966
Households
2.2
Avg Household Size
36
Median Age
78%
College-Educated
99%
High-School Grad
6.6 sq mi
ZIP Area
8,231
Density / Sq Mi
$148,190
Median Household Income
$82,332
Median Earnings
$2,118
Median Rent
$1,041,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Renovated apartments, in-unit laundry, and dedicated parking support this established multifamily property.
Where is this apartment building located?
The property is located at 7101 6TH Unit 1-10 Seattle, WA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 10‑unit apartment community built in 1969; 7,746 SF building on a 7,000‑SF parcel; 5.7% cap rate and 11.3 GRM based on current operations
