Renovated Triplex with
For Sale
$1,375,000
812 E Gwinn Pl, Seattle, WA 98102
Owner-occupiable property with updated systems, outdoor space, storage, and dedicated electric parking.
Property Size3,580 SF
Price / SF$384.08
Days on Market72
Property Features for 812 E Gwinn Pl
General Information
Standard status
Active
Size
3,580 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1904
Year Renovated
2012
Buildings
1
Listing Agency:
Westlake Associates, Inc.
Listed By:
Reid Jones · License #87080
(206) 250-9655
Source:
Withkristiandco
Added: Aug 9
Changed: Oct 4
Last Checked: Oct 7 at 1:14PM
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 Westlake Associates, Inc.
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Investment Insights
Based on property information with market context.
Built in 1904, this triplex has been extensively renovated, including electrical, plumbing, and roof work completed in 2012. The layout includes two 2BR/1BA units and a lower apartment identified as non-conforming, with the buyer responsible for verification. Interior finishes are consistent throughout, while a large storage area and planter-bed outdoor space add functional amenity areas. Two electric parking stalls are included.
The property is located at 812 E Gwinn Pl in Seattle’s 98102 ZIP code, between Portage Bay and Eastlake. Its configuration supports owner occupancy while retaining separate residential units for rental use, subject to applicable verification of the lower apartment.
The property is located at 812 E Gwinn Pl in Seattle’s 98102 ZIP code, between Portage Bay and Eastlake. Its configuration supports owner occupancy while retaining separate residential units for rental use, subject to applicable verification of the lower apartment.
Key Highlights
- Two 2BR/1BA units plus a non‑conforming lower apartment
- Electrical, plumbing, and roof updates completed in 2012
- Two electric parking stalls included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,617
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,292,340
$1.3M
Cap Rate 7%
$923,100
$923.1K
Cap Rate 9%
$717,967
$718.0K
Market Conditions
NOI Build-Up for 3,580 SF
Gross rent
$96.7K $27.00/SF
− Vacancy
−$4.3K −$1.22/SF
EGI
$92.3K $25.79/SF
− OpEx
−$27.7K −$7.74/SF
NOI
$64.6K $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%
$1,292,340
Cap Rate 7%
$923,100
Cap Rate 9%
$717,967
Alternative Uses
Best Use
Multifamily LT 5
$923.1K
$807.7K – $1.08M
NOI $64,617 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$863.2K
$755.3K – $1.01M
NOI $60,423 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$1.08M
$942.4K – $1.26M
NOI $75,394 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,994
Businesses Nearby
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Business Placement
Demographics for 98102, WA
25,066
Population
17,944
Households
1.4
Avg Household Size
34
Median Age
79%
College-Educated
99%
High-School Grad
1.3 sq mi
ZIP Area
19,282
Density / Sq Mi
$114,395
Median Household Income
$80,130
Median Earnings
$1,920
Median Rent
$988,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Owner-occupiable property with updated systems, outdoor space, storage, and dedicated electric parking.
Where is this triplex located?
The property is located at 812 E Gwinn Pl Seattle, WA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Two 2BR/1BA units plus a non‑conforming lower apartment; Electrical, plumbing, and roof updates completed in 2012; Two electric parking stalls included
