6-Unit Apartment
For Sale
$1,900,000
714 N 1st Avenue N, Seattle, WA 98109
A seven-space lot, paid laundry room, and separate water meters serve the residents.
Property Size6,090 SF
Days on Market10
Property Features for 714 N 1st Avenue N
General Information
Standard status
Active
Size
6,090 SF
Total Parking Spaces
7
Property subtype
Multi Family
Site & Location
Neighborhood
Central Business District
Units
Unit Mix
4 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
6
Individually Metered Utilities
water
Taxes and HOA fees
Annual Taxes
$26,364
Amenities
paid laundry room
Building Details
Building Size
6,090 SF
Year Built
1906
Buildings
1
Listing Agency:
Windermere Real Estate Co.
Listed By:
Leah Hill
(206) 852-7634
Source:
Marypong
Added: Oct 19
Changed: Oct 26
Last Checked: Oct 27 at 1:25AM
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 Windermere Real Estate Co.
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Investment Insights
Based on property information with market context.
Built in 1906, this Seattle apartment property contains six recently renovated units: four two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments. Each unit has its own water meter. The property also includes a seven-car parking area and a separate room with paid laundry facilities.
Located in Lower Queen Anne, the building has historically experienced low tenant turnover.
Located in Lower Queen Anne, the building has historically experienced low tenant turnover.
Key Highlights
- Six apartments: four two‑bedroom/one‑bath units and two one‑bedroom/one‑bath units
- All six units have been renovated recently
- Seven‑car parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,786
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,055,720
$2.1M
Cap Rate 7%
$1,468,371
$1.5M
Cap Rate 9%
$1,142,067
$1.1M
Market Conditions
NOI Build-Up for 6,090 SF
Gross rent
$193.7K $31.80/SF
− Vacancy
−$6.8K −$1.11/SF
EGI
$186.9K $30.69/SF
− OpEx
−$84.1K −$13.81/SF
NOI
$102.8K $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%
$2,055,720
Cap Rate 7%
$1,468,371
Cap Rate 9%
$1,142,067
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.28M – $1.71M
NOI $102,786 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,254 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
19,743
Businesses Nearby
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Business Placement
Demographics for 98109, WA
34,551
Population
23,162
Households
1.5
Avg Household Size
32
Median Age
78%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
18,185
Density / Sq Mi
$130,845
Median Household Income
$104,202
Median Earnings
$2,329
Median Rent
$986,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A seven-space lot, paid laundry room, and separate water meters serve the residents.
Where is this apartment building located?
The property is located at 714 N 1st Avenue N Seattle, WA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Six apartments: four two‑bedroom/one‑bath units and two one‑bedroom/one‑bath units; All six units have been renovated recently; Seven‑car parking lot
