Brick Duplex with Attached
For Sale
$625,000
7418 Rainier Ave S, Seattle, WA 98118
Two-bedroom units offer basements, private laundry, garages, and additional driveway parking.
Property Size2,860 SF
Price / SF$218.53
Days on Market61
Property Features for 7418 Rainier Ave S
General Information
Standard status
Active
Size
2,860 SF
Property subtype
Multi-Family
Zoning
LR3(M)
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
basement laundry
Building Details
Year Built
1953
Buildings
1
Construction
brick
Listing Agency:
AQUA Real Estate
Listed By:
Rick Juma
(206) 688-2782
Source:
Montgomeryht
Added: Aug 16
Changed: Oct 15
Last Checked: Oct 5 at 8:07PM
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 AQUA Real Estate
Investment Insights
Based on property information with market context.
This brick duplex was built in 1953 and contains two residential units, each with 2 bedrooms, 1 full bath, and approximately 840 square feet. Both units include hardwood flooring, large windows, kitchens with dining areas, attached one-car garages, and driveway parking. Full basements provide laundry areas and storage, with space that may support additional finished living or recreation use.
The front unit at 7420 is tenant occupied, while the rear unit is vacant and ready for occupancy. LR3(M) zoning supports the property's multifamily classification and may allow future development, subject to applicable requirements. The property is located at 7420 Rainier Ave S in Seattle, near Light Rail, Columbia City, Seward Park, and Lake Washington.
The front unit at 7420 is tenant occupied, while the rear unit is vacant and ready for occupancy. LR3(M) zoning supports the property's multifamily classification and may allow future development, subject to applicable requirements. The property is located at 7420 Rainier Ave S in Seattle, near Light Rail, Columbia City, Seward Park, and Lake Washington.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bath units, each approximately 840 square feet
- Built in 1953 with brick construction and hardwood floors
- Full basements include laundry areas and substantial storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,676
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$953,520
$953.5K
Cap Rate 7%
$681,086
$681.1K
Cap Rate 9%
$529,733
$529.7K
Market Conditions
NOI Build-Up for 2,860 SF
Gross rent
$72.1K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$68.1K $23.81/SF
− OpEx
−$20.4K −$7.14/SF
NOI
$47.7K $16.67/SF
Area
ZIP 98118
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$953,520
Cap Rate 7%
$681,086
Cap Rate 9%
$529,733
Alternative Uses
Best Use
Multifamily LT 5
$681.1K
$596.0K – $794.6K
NOI $47,676 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$613.5K
$536.8K – $715.8K
NOI $42,947 @ 7.0% cap · market cap 6.87%
Theoretical Best
Specialty Retail
$1.03M
$900.4K – $1.20M
NOI $72,033 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 98118, WA
47,504
Population
19,831
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
90%
High-School Grad
6.2 sq mi
ZIP Area
7,662
Density / Sq Mi
$109,085
Median Household Income
$54,827
Median Earnings
$1,831
Median Rent
$746,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units offer basements, private laundry, garages, and additional driveway parking.
Where is this duplex located?
The property is located at 7418 Rainier Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bath units, each approximately 840 square feet; Built in 1953 with brick construction and hardwood floors; Full basements include laundry areas and substantial storage
