Six-Unit Townhome-Style Apartment
For Sale
$1,400,000
8830 Nesbit Ave N, Seattle, WA 98103
Six apartments include two two-story townhouse-style units, each with in-unit washer/dryer and secure garage parking.
Property Size5,150 SF
Price / SF$271.84
Days on Market108
Property Features for 8830 Nesbit Ave N
General Information
Standard status
Active
Size
5,150 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Site & Location
Neighborhood
Licton Springs
Fenced Yard
Yes
Additional Details
Multifamily Units
6
Building Details
Year Built
1995
Listing Agency:
Westland Realty
Listed By:
Jeff Totzek
(206) 424-0777
Source:
Theinspiregroup
Added: Jul 8
Changed: Oct 13
Last Checked: Oct 21 at 1:58AM
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 Westland Realty
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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
Estimated NOI and Cap Rate
NOI / Yr
$82,167
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,643,340
$1.6M
Cap Rate 7%
$1,173,814
$1.2M
Cap Rate 9%
$912,967
$913.0K
Market Conditions
NOI Build-Up for 5,150 SF
Gross rent
$157.6K $30.60/SF
− Vacancy
−$8.2K −$1.59/SF
EGI
$149.4K $29.01/SF
− OpEx
−$67.2K −$13.05/SF
NOI
$82.2K $15.95/SF
Area
ZIP 98103
Vacancy
5.20%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,643,340
Cap Rate 7%
$1,173,814
Cap Rate 9%
$912,967
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,167 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,724 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
6
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 98103, WA
53,056
Population
27,857
Households
1.9
Avg Household Size
35
Median Age
77%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
11,534
Density / Sq Mi
$127,372
Median Household Income
$80,508
Median Earnings
$2,006
Median Rent
$1,012,900
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?
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 Ave 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
