Six-Unit Townhome-Style Apartment
8830 Nesbit Avenue N Seattle, WA 98103
For Sale
$1,400,000
Six apartments include two two-story townhouse-style units, each with in-unit washer/dryer and secure garage parking.
Property Size5,412 SF
Price / SF$258.68
Days on Market108
Property Features for 8830 Nesbit Avenue N
General Information
- Standard status
- Active
- Size
- 5,412 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1995
Listing Agency:
Windermere Prof Partners
(503) 481-1615
Listed By:
Amber Morgan · License #201001153
(503) 481-1615
Source:
Premierepropertygroup
Added: Apr 7
Changed: Jul 23
Last Checked: Jul 23 at 5:28AM
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 Prof Partners
Investment Insights
Based on property information with market context.
This for-sale multifamily property includes six spacious apartments, featuring two two-story townhouse-style units. The units have washer/dryers and various updates, and the building’s basement level includes a secure parking garage with one space per unit.
The property is located in an up-and-coming neighborhood north of Green Lake, less than two blocks from major transit. It is also near Green Lake and close to Northgate shopping center and the light rail station.
Additional exterior improvements include refreshed landscaping and a new fence. The decks and roof were replaced roughly five years ago, and the building is described as straightforward to maintain.
The property is located in an up-and-coming neighborhood north of Green Lake, less than two blocks from major transit. It is also near Green Lake and close to Northgate shopping center and the light rail station.
Additional exterior improvements include refreshed landscaping and a new fence. The decks and roof were replaced roughly five years ago, and the building is described as straightforward to maintain.
Key Highlights
- 6‑apartment building (3 stories) built in 1995 with 5,412 total building area
- Includes two 2‑story townhouse‑style units, each with in‑unit washer/dryer
- Secure basement parking garage with 1 space per unit; 6 total covered spaces and 6 total parking spots
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 | $165.6k | $30.60 |
| − Vacancy | −$8.6k | −$1.59 |
| EGI | $157.0k | $29.01 |
| − OpEx | −$70.6k | −$13.05 |
| NOI | $86.3k | $15.95 |
5,412 SF · lease $30.60/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,348 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $153,138 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six apartments include two two-story townhouse-style units, each with in-unit washer/dryer and secure garage parking.
Where is this apartment building located?
The property is located at 8830 Nesbit Avenue N Seattle, WA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 6‑apartment building (3 stories) built in 1995 with 5,412 total building area; Includes two 2‑story townhouse‑style units, each with in‑unit washer/dryer; Secure basement parking garage with 1 space per unit; 6 total covered spaces and 6 total parking spots
