5631 California Ave Seattle, WA 98136

Property Details for 5631 California Ave

Year built

1980

Lot size

0.34 lot acres

Property size

23,932 SF

Property type

Commercial real estate

APN

762570-1430

Description

This exceptional mixed-use property, located at 5631 California Ave SW in Seattle, WA 98136, presents a compelling investment opportunity. The 23,932 square foot building, constructed in 1980 and fully renovated, boasts a desirable West Seattle Junction location with excellent street exposure. The property features 19 units: four street-level retail spaces, all currently leased, and fifteen luxury residential apartments, each a two-bedroom, two-bathroom unit averaging 1,012 square feet and including in-unit washer/dryers. The building sits on a 0.34-acre lot (zoned LR3 RC (M)) and offers 25 parking spaces, conveniently divided between residential (rear alley access) and commercial (front) areas. The current cap rate stands at 5.04%, with a pro-forma cap rate of 5.56%. The asking price is $8,950,000, translating to $457 per square foot and $471,053 per unit. The building is a four-story structure with a net rentable area of 19,564 square feet. Its prime location offers an 85 Walk Score and proximity to a future light rail station (projected opening 2032), promising continued growth and high occupancy rates. This turnkey property offers a diversified income stream and significant potential for future appreciation. The lease term for the retail spaces is five years. The property's APN is 762570-1430.