Mostly Completed 3-Unit
A-12017 5th Ave Sw Seattle, WA 98104
For Sale
$1,050,000
Mostly completed future 3-unit condominium with plans for SFR plus ADA unit and DADU, sold as-is.
Property Size3,776 SF
Price / SF$278.07
Days on Market322
Property Features for A-12017 5th Ave Sw
General Information
Standard status
Active
Size
3,776 SF
Property subtype
Land
Listing Agency:
Windermere Real Estate/M2, LLC
(425) 776-9580
Listed By:
Barry Tharp
(425) 776-9580
Source:
Exprealty
Added: Sep 10, 2025
Changed: Jul 22
Last Checked: Jul 26 at 6:40PM
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 Windermere Real Estate/M2, LLC
Investment Insights
Based on property information with market context.
This listing presents a mostly completed future 3-unit condominium with approved plans for a 2,176 sq. ft. SFR, an 800 sq. ft. ADA unit, and an 800 sq. ft. DADU. According to the remarks, much of the millwork is already installed, along with LVP flooring, leaving the remaining work for the buyer to finish. The property is offered as-is.
The development is situated on a quiet private easement off of 5th, and it is described as being very close to a nearby elementary school.
The opportunity is being marketed as a for-sale conversion to a 3-unit condominium with units sized as outlined in the plans.
The development is situated on a quiet private easement off of 5th, and it is described as being very close to a nearby elementary school.
The opportunity is being marketed as a for-sale conversion to a 3-unit condominium with units sized as outlined in the plans.
Key Highlights
- Mostly completed future 3‑unit condominium project with plans for a SFR plus an 800 SF ADA unit and an 800 SF DADU
- Plans include 2,176 SF SFR plus 800 SF ADA unit and 800 SF DADU
- Millwork is mostly installed and LVP flooring is already in place
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.0k | $27.00 |
| − Vacancy | −$4.6k | −$1.22 |
| EGI | $97.4k | $25.79 |
| − OpEx | −$29.2k | −$7.74 |
| NOI | $68.2k | $18.05 |
3,776 SF · lease $27.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$973.6K
$851.9K – $1.14M
NOI $68,155 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$910.4K
$796.6K – $1.06M
NOI $63,731 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.14M
$994.0K – $1.33M
NOI $79,521 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Mostly completed future 3-unit condominium with plans for SFR plus ADA unit and DADU, sold as-is.
Where is this triplex located?
The property is located at A-12017 5th Ave Sw Seattle, WA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Mostly completed future 3‑unit condominium project with plans for a SFR plus an 800 SF ADA unit and an 800 SF DADU; Plans include 2,176 SF SFR plus 800 SF ADA unit and 800 SF DADU; Millwork is mostly installed and LVP flooring is already in place
