Green Lake 10-Unit
8001 Densmore Ave N Seattle, WA 98103
8001 Densmore Ave N, Seattle, WA, 98103
$4,495,000
For Sale
$4,495,000
10-unit apartment portfolio near Green Lake with diverse unit mix.
Property Size8,600 SF
Price / SF$522.67
Days on Market105
Property Features for 8001 Densmore Ave N
General Information
- Standard status
- Active
- Size
- 8,600 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1945
Listing agency
LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES
(206) 773-2694
Listed by
CANDICE CHEVAILLIER, CCIM
Source
Corcoran
Added: Apr 8 Updated: Jul 10 at 12:28PM Checked: Jul 21 at 5:56AM
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 LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES
Investment Insights
Based on property information with market context.
This offering features a 10-unit apartment portfolio, encompassing three buildings situated on two parcels totaling 8,600 square feet with LR2 zoning in the Green Lake neighborhood. The location is one block from Green Lake, providing residents with convenient access to recreational amenities. The property's location also offers access to retail, restaurants, Fremont, Ballard, and Downtown Seattle. The unit mix includes one, two, and three-bedroom apartments, each with individual walk-up entry and private washers and dryers. Seven of the units are townhome-style, ranging from 900 to 1100 square feet, and include an attached garage, laundry, and storage area.
Key Highlights
- Prime Green Lake location, one block from the lake and close to retail, restaurants, Fremont, Ballard, and Downtown Seattle.
- 10‑unit apartment portfolio comprised of three buildings on two large parcels.
- Attractive mix of one, two, and three bedroom units.
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 | $263.2k | $30.60 |
| − Vacancy | −$13.7k | −$1.59 |
| EGI | $249.5k | $29.01 |
| − OpEx | −$112.3k | −$13.05 |
| NOI | $137.2k | $15.95 |
8,600 SF · lease $30.60/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,212 @ 7.0% cap · market cap 3.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.48M
$3.04M – $4.06M
NOI $243,346 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 10-unit apartment portfolio near Green Lake with diverse unit mix.
Where is this apartment building located?
The property is located at 8001 Densmore Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: Prime Green Lake location, one block from the lake and close to retail, restaurants, Fremont, Ballard, and Downtown Seattle.; 10‑unit apartment portfolio comprised of three buildings on two large parcels.; Attractive mix of one, two, and three bedroom units.
