For Sale
$1,550,000
Pending
812 29th Ave S, Seattle, WA 98144
Multifamily properties
Property Size6,400 SF
Days on Market51
Property Features for 812 29th Ave S
General Information
Standard status
Pending
Size
6,400 SF
Property subtype
Multi-Family
Building Details
Year Built
1963
Listing Agency:
Windermere Real Estate Co.
Listed By:
Nick Upshaw
(206) 324-0000
Source:
Pugetsoundpropertyguide
Added: Aug 25
Changed: Oct 10
Last Checked: Oct 12 at 7:53PM
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,517
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,310,340
$2.3M
Cap Rate 7%
$1,650,243
$1.7M
Cap Rate 9%
$1,283,522
$1.3M
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$172.8K $27.00/SF
− Vacancy
−$7.8K −$1.22/SF
EGI
$165.0K $25.79/SF
− OpEx
−$49.5K −$7.74/SF
NOI
$115.5K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,310,340
Cap Rate 7%
$1,650,243
Cap Rate 9%
$1,283,522
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.93M
NOI $115,517 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $108,018 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$1.93M
$1.68M – $2.25M
NOI $134,782 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
980
Businesses Nearby
Explore this area
Business Placement
Demographics for 98144, WA
32,178
Population
16,381
Households
2
Avg Household Size
38
Median Age
62%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
9,464
Density / Sq Mi
$94,051
Median Household Income
$65,078
Median Earnings
$1,805
Median Rent
$890,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
Where is this multifamily property located?
The property is located at 812 29th Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $1,550,000.
