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    8500 16Th Ave NW Seattle, WA 98117

    For Sale
    $4,750,000

    Multifamily property in a robust economic area with revenue potential.

    Property size:
    14,871 SF

    Property Features for 8500 16Th Ave NW

    General Information

    Standard status
    Active
    Size
    14,871 SF

    Building Details

    Year built
    1976

    Source: BERKADIA REAL ESTATE ADVISORS, LLC Agent STEVEN CHATTIN

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Crown Hill Multifamily Investment Opportunity

    This multifamily property represents a stable investment opportunity, having been under single ownership for over 30 years. Recent unit improvements have strengthened its market positioning, with the latest leases reflecting a 15% increase in rental rates. The property is situated in a robust economic area, with a median household income of $128,455 within a 2-mile radius and 13,124 households earning over $200,000, supporting high occupancy rates and premium rental pricing. The property's location within the Crown Hill urban village zoning overlay offers a competitive advantage, featuring a nearly 1:1 parking ratio and no minimum parking requirements for future developments. Additional income is generated through on-site laundry facilities. The property size is 14871 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Carolee Bevers Lmp Massage Therapist

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.377584
    Latitude
    47.6908607

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property in a robust economic area with revenue potential.
    Where is this apartment building located?
    The property is located at 8500 16Th Ave NW Seattle, WA.
    What is the asking price?
    The asking price for this property is $4,750,000.
    What are key features of this property?
    This property features: - Proven investment with 30+ years of single ownership.; - Recent unit improvements leading to a 15% increase in rental rates.; - Located in a strong economic area with high median household income.
    Request Owner's contact information
    8500 16Th Ave NW Seattle, WA 98117
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    Seattle, WA 98117
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8500 16Th Ave NW Seattle, WA 98117
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