5631 California Ave Seattle, WA 98136

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.