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    9037 16Th Ave SW Seattle, WA 98106

    For Sale
    $3,150,000

    20-unit apartment building in Seattle's White Center neighborhood.

    Property size:
    9,584 SF

    Property Features for 9037 16Th Ave SW

    General Information

    Standard status
    Active
    Size
    9,584 SF

    Building Details

    Year built
    1957

    Source: PARAGON REAL ESTATE ADVISORS Agent TANNER FOGLE

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

    Overview

    Seattle Multifamily Investment Opportunity

    The Olympus Apartments, a 20-unit multifamily property, is located at 9041 16th Ave SW in Seattle’s White Center neighborhood. Offered for sale for the first time in over 25 years, this property, built in 1957, includes 18 one-bedroom units and 2 studios. The property provides immediate income with a 5.91% in-place cap rate, while also offering a value-add opportunity through continued unit renovations and rental upside. Upgrades include electrical panels for all units, portions of the plumbing system replaced with PEX, and new flooring throughout the majority of the building. A handful of units remain in more original condition, allowing for further renovations.
    Location Intelligence

    Current Use by Public Records

    Olympus ApartmentS Apartment Building

    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
    -122.3555248
    Latitude
    47.5218318

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    FAQs

    What type of property is this?
    Apartment building - 20-unit apartment building in Seattle's White Center neighborhood.
    Where is this apartment building located?
    The property is located at 9037 16Th Ave SW Seattle, WA.
    What is the asking price?
    The asking price for this property is $3,150,000.
    What are key features of this property?
    This property features: - Immediate income with a 5.91% in-place cap rate.; - Value-add opportunity through continued unit renovations and rental upside.; - Located in the vibrant White Center neighborhood of Seattle.
    Request Owner's contact information
    9037 16Th Ave SW Seattle, WA 98106
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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
    9037 16Th Ave SW Seattle, WA 98106
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