9200 15Th Ave Seattle, WA 98106
- Commercial real estate
- 5,861 SF
Current Use by Public Records
- Commercial real estate
Property Details for 9200 15Th Ave
- Year built
- 1978
- Property size
- 5,861 SF
- Property type
- Commercial real estate
- APN
- 329870-0650
Description
This exceptional 10-unit apartment building presents a compelling value-add opportunity in the desirable West Seattle neighborhood. Built in 1978 and renovated in 1996, the property boasts 5,861 square feet of net rentable space across three stories, situated on a 6,896 square foot lot. Each unit features one bedroom and one bathroom, averaging 586 square feet. Ten parking spaces are available, six covered and four uncovered. The property currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $172,800, resulting in a 5.55% capitalization rate. The permitted zoning is LR2(M), offering potential for expansion or redevelopment. This well-maintained property, with its strong financial performance and prime location, represents a solid investment opportunity for discerning buyers. The property is located at 9200 15th Ave SW, Seattle, WA 98106, in King County. The asking price is $2.8 million, or $280,000 per unit. This is a rare opportunity to acquire a well-performing multifamily asset in a highly sought-after Seattle location. The property's strong cash flow and potential for future appreciation make it an ideal addition to any investment portfolio. The property's solid history and current performance, combined with the potential for future growth, make this a truly unique investment opportunity.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.3536661
- Latitude
- 47.5208756
