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    9043 35Th Ave Seattle, WA 98126

    Sponsored
    For Sale
    $2,995,000

    13-Unit Apartment Building, West Seattle

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fully renovated, 13-unit apartment building located at 9043 35th Ave SW, Seattle, WA 98126. The property, built in 1960 and extensively renovated in 2019, boasts 7,976 square feet of net rentable space situated on a 13,216 square foot lot. Currently operating as a stabilized asset, the property offers a compelling 5.67% cap rate with a projected NOI of $169,876. Pro-forma projections indicate a 5.98% cap rate and a NOI of $179,092, suggesting significant upside potential. The property is zoned NC2P-55 (M) and consists of a single, two-story building. Each of the 13 units offers a price per unit of $230,384.62, contributing to the overall asking price of $2,995,000. The property's location in West Seattle provides convenient access to desirable amenities and a strong rental market. The existing structure presents a covered land play opportunity, with potential for further value enhancement through the addition of a studio unit in the maintenance room and strategic rent increases. This is a prime investment opportunity for those seeking stable cash flow and significant long-term growth potential in a highly sought-after Seattle neighborhood. The property's strong financials, combined with its location and renovation history, make it an attractive addition to any investment portfolio. The Assessor's Parcel Number (APN) is 2491200880.

    Property Features for 9043 35Th Ave

    General Information

    Property type
    Multifamily properties
    Class
    C

    Building Details

    Year Built/Renovated
    1960/2019
    Buildings
    1
    Stories
    2
    Units
    13

    HighLights

    • Fully renovated 13‑unit apartment building in West Seattle.
    • 7,976 sq ft on a 13,216 sq ft lot, built in 1960, renovated in 2019.
    • Current 5.67% cap rate, $169,876 NOI; pro‑forma 5.98% cap rate, $179,092 NOI.
    • $2,995,000 asking price, $230,385 per unit.
    • NC2P‑55 (M) zoning; potential for value add.
    • APN 2491200880.
    Property Profile Location Intelligence

    Current Use by Public Records

    Collins and Delgado Administrative Attorney

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.37671383
    Latitude
    47.5214747

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    FAQs

    What type of property is this?
    Multifamily property - 13-Unit Apartment Building, West Seattle
    Where is this multifamily property located?
    The property is located at 9043 35Th Ave Seattle, WA.
    What is the asking price?
    The asking price for this property is $2,995,000.
    What are key features of this property?
    This property features: Fully renovated 13-unit apartment building in West Seattle.; 7,976 sq ft on a 13,216 sq ft lot, built in 1960, renovated in 2019.; Current 5.67% cap rate, $169,876 NOI; pro-forma 5.98% cap rate, $179,092 NOI.
    Request Owner's contact information
    9043 35Th Ave Seattle, WA 98126
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    Seattle, WA 98126
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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
    9043 35Th Ave Seattle, WA 98126
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