207 104Th St, Unit Seattle Seattle, WA 98133

Property Details for 207 104Th St

Year built

1977

Lot size

0.19 lot acres

Property size

8,928 SF

Property type

Commercial real estate

APN

344200001503

Description

This three-story, 8,928 square foot apartment building in Seattle, WA (98133), presents a compelling investment opportunity. Boasting a 100% occupancy rate and a current NOI of $161,236, this stabilized multifamily property offers a 6.00% cap rate with a pro-forma cap rate of 6.50%. The asking price is $2,650,000, translating to $294,000 per unit and $245 per square foot. The property features a mix of nine units: four two-bedroom, one-bathroom units (1,017 sq ft each) and five one-bedroom, one-bathroom units (700 sq ft each). Twelve parking spaces are available, including six covered spots. Built in 1977, the building features stucco siding, a newly replaced built-up asphalt roof, electric baseboard heating, and copper plumbing. Situated on a 0.191-acre lot, it is zoned C1-55(M), allowing for potential redevelopment up to five stories, significantly increasing future value. The property enjoys a quiet, private location yet offers convenient access to nearby amenities. Each unit features a spacious balcony and abundant natural light due to excellent westerly exposure. This is a strong investment with immediate cash flow and significant long-term potential. The property is free and clear. APN: 344200001503.