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    Rainier Beach Multifamily Investment Opportunity Title is generated by Realmo AI

    8630 Rainier Ave S, Seattle, WA 98118

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    Claim this Listing
    For Sale
    $4,375,000

    Multifamily property in walkable Rainier Beach neighborhood, Seattle.

    Type:Commercial
    Property size:
    16,480 SF
    Price / SF:
    $265/SF
    Added:
    Mar 18, 2025
    Days on Market:
    455
    Last Refresh:
    May 10 at 10:44 pm

    Property Features for 8630 Rainier Ave S

    General Information

    Standard status
    Active
    Size
    16,480 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1960

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    Listing Contact
    DAN SWANSON

    Listing agent DAN SWANSON License #13533

    Listing office KIDDER MATHEWS

    Listing date Mar 18, 2025

    Source Corcoran

    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 KIDDER MATHEWS

    HighLights

    • Very Walkable location with a high walk score of 84.
    • Close to Rainier Beach Community Center and pool.
    • Near multiple recreational spaces including parks, beaches, and Lake Washington.
    • Convenient access to restaurants, Rite Aid, and Safeway.
    • Easy access to public transportation with bus stops nearby.
    • Short drive to Boeing Field.

    Overview

    Located in Rainier Beach, this multifamily property is across the street from the Rainier Beach Community Center and pool. It has a walk score of 84, indicating a highly walkable area. The property is a 4-minute walk from the Rainier Beach Playfield and a 7-minute walk from the new Rainier Beach High School. Recreational spaces such as Be'er Sheva Park, Pritchard Island Beach, and Lake Washington are within a half mile. A variety of restaurants are located within three quarters of a mile. A Rite Aid, Safeway, and a new Starbucks (opening in 2025) are within an 8-minute walk to the south. Boeing Field is a 10-minute drive away. Bus stops for two routes are within a couple hundred feet, providing service to Capitol Hill. The property has a size of 16480 square feet.

    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 $474.6k $28.80
    − Vacancy −$24.7k −$1.50
    EGI $449.9k $27.30
    − OpEx −$202.5k −$12.29
    NOI $247.5k $15.02
    16,480 SF · lease $28.80/SF/yr · vacancy 5.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $3.54M
    $3.09M – $4.12M (±1% cap)
    NOI $247,469 @ 7.0% cap · market cap 5.66%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $5.93M
    $5.19M – $6.92M (±1% cap)
    NOI $415,074 @ 7.0% cap · market cap 9.49%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Beach Court Apartments Apartment Building

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.27
    Latitude
    47.5254

    FAQs

    What type of property is this?
    Apartment building - Multifamily property in walkable Rainier Beach neighborhood, Seattle.
    Where is this apartment building located?
    The property is located at 8630 Rainier Ave S Seattle, WA.
    What is the asking price?
    The asking price for this property is $4,375,000.
    What are key features of this property?
    This property features: Very Walkable location with a high walk score of 84.; Close to Rainier Beach Community Center and pool.; Near multiple recreational spaces including parks, beaches, and Lake Washington.
    More about this property
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