Mixed-Use Residential Building with Retail
816 North 38th Street, Seattle, WA 98103
Four-story building offers five residential apartments plus a ground-floor commercial suite for diversified income potential.
Type:Retail, Multifamily
Property size:
4,469 SFPrice / SF:
$425/SF- Added:
- Jun 17, 2026
- Days on Market:
- 11
- Last Refresh:
- Jun 24 at 4:23 am
Property Features for 816 North 38th Street
General Information
- Standard status
- Active
- Size
- 4,469 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1990
Listing office Westlake Associates, Inc.
Listing date Jun 17, 2026
Source Crexi
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.
HighLights
- Four‑story mixed‑use building built in 1990 with 5 residential apartments plus a ground‑floor commercial suite
- Residential units include four oversized 1‑bedroom units and one 2‑bedroom unit
- Each apartment has southern exposure and private outdoor patios, plus in‑unit range, refrigerator, dishwasher, microwave, and air‑conditioning
- Commercial suite features hardwood flooring, kitchenette, and a private shower
- Building offers common laundry, an inviting rooftop deck, and an exceptional 1:1 parking ratio
Overview
Originally constructed in 1990, this four-story frame building includes five spacious residential apartments and one ground-floor commercial suite. The residential mix features four oversized one-bedroom units and one expansive two-bedroom unit, with southern exposure, large bedrooms, well-appointed kitchens with abundant cabinetry, and private outdoor patios. In-unit amenities include a range, refrigerator, dishwasher, microwave, and air-conditioning. The commercial space is finished with beautiful hardwood flooring, a kitchenette, and a private shower, with a layout designed to support flexible tenant uses.
The property is maintained with durable vinyl siding and a pitched roof in excellent condition. Tenant amenities include a common laundry facility and an inviting rooftop deck with neighborhood views. An exceptional 1:1 parking ratio is provided, a rare feature noted for the Fremont urban core. The combination of homes and a dedicated commercial suite creates an uncommon mix for a property of this size.
For buyers or investors, the structure supports a diversified setup with both residential living space and a separate commercial component. For commercial tenants, the suite’s kitchenette and private shower can help accommodate a range of service-oriented or small-operator concepts, while residents benefit from private patios, indoor comforts, and shared rooftop and laundry amenities.
The property is maintained with durable vinyl siding and a pitched roof in excellent condition. Tenant amenities include a common laundry facility and an inviting rooftop deck with neighborhood views. An exceptional 1:1 parking ratio is provided, a rare feature noted for the Fremont urban core. The combination of homes and a dedicated commercial suite creates an uncommon mix for a property of this size.
For buyers or investors, the structure supports a diversified setup with both residential living space and a separate commercial component. For commercial tenants, the suite’s kitchenette and private shower can help accommodate a range of service-oriented or small-operator concepts, while residents benefit from private patios, indoor comforts, and shared rooftop and laundry amenities.
Local Financial Insights For Retail
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 | $143.2k | $32.04 |
| − Vacancy | −$4.3k | −$0.96 |
| EGI | $138.9k | $31.08 |
| − OpEx | −$41.7k | −$9.32 |
| NOI | $97.2k | $21.76 |
4,469 SF · lease $32.04/SF/yr · vacancy 3.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.39M
$1.22M – $1.62M
NOI $97,224 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$1.02M
$891.3K – $1.19M
NOI $71,302 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,455 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Seattle Close Range ...
Training Center
World Dance With ...
Training Center
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.347787
- Latitude
- 47.6529007
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Four-story building offers five residential apartments plus a ground-floor commercial suite for diversified income potential.
Where is this apartment building located?
The property is located at 816 North 38th Street 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: Four‑story mixed‑use building built in 1990 with 5 residential apartments plus a ground‑floor commercial suite; Residential units include four oversized 1‑bedroom units and one 2‑bedroom unit; Each apartment has southern exposure and private outdoor patios, plus in‑unit range, refrigerator, dishwasher, microwave, and air‑conditioning
