Seattle Apartment Building for
9233 Interlake Ave N, Seattle, WA 98103
Well-maintained 1986 apartment complex in Seattle's Licton Springs.
Type:Commercial
Property size:
4,322 SFPrice / SF:
$300/SF- Added:
- May 17, 2026
- Days on Market:
- 11
- Last Refresh:
- May 17 at 8:16 pm
Property Features for 9233 Interlake Ave N
General Information
- Standard status
- Active
- Size
- 4,322 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1986
Listing agent JACOB ODEGARD
Listing office CUSHMAN & WAKEFIELD
Listing date May 17, 2026
Source Corcoran
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 CUSHMAN & WAKEFIELD
HighLights
- Well‑maintained apartment complex built in 1986.
- Located in the Licton Springs neighborhood of Seattle.
- Secured access building promotes tenant privacy and safety.
- Each unit has its own covered off‑street parking space.
- Four units feature private balconies.
- On‑site common laundry for tenant convenience.
Overview
This well-maintained apartment complex, constructed in 1986, is located in the Licton Springs neighborhood of Seattle. The building offers secured access for tenants' privacy and safety. The property has a total size of 4322 square feet. For tenant convenience, a common laundry is located on-site. Four of the units feature private balconies, and each unit includes its own covered off-street parking space.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$766.2K
NOI $68,957 @ 9.00% cap · cautious / downside scenario
Moderate
$985.1K
NOI $68,957 @ 7.00% cap · market / base-case scenario
Aggressive
$1.38M
NOI $68,957 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.3k | $30.60 |
| − Vacancy | −$6.9k | −$1.59 |
| EGI | $125.4k | $29.01 |
| − OpEx | −$56.4k | −$13.05 |
| NOI | $69.0k | $15.95 |
4,322 SF · lease $30.60/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$985.1K
$862.0K – $1.15M
NOI $68,957 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,295 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.3411211
- Latitude
- 47.6969614
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 1986 apartment complex in Seattle's Licton Springs.
Where is this apartment building located?
The property is located at 9233 Interlake Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Well‑maintained apartment complex built in 1986.; Located in the Licton Springs neighborhood of Seattle.; Secured access building promotes tenant privacy and safety.
