4526 S Henderson ST, Seattle, WA 98118
4526 S Henderson ST, Seattle, WA 98118
4526 S Henderson ST, Seattle, WA 98118
4526 S Henderson ST, Seattle, WA 98118
4526 S Henderson ST, Seattle, WA 98118
4526 S Henderson ST, Seattle, WA 98118
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RSVP Real Estate Group

RSVP Real Estate Group

+1(425) 610-7787
Listed by:Paragon Real Estate Advisors • Ben Douglas
$ 1,100,000
Est. payment | /mo

8 Beds

7 Baths

4,358 SqFt

Save
$ 1,100,000
Est. payment | /mo
Save

8 Beds

7 Baths

4,358 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,358 sqft

Price per Sqft $252

Subdivision Dunlap

MLS Listing ID 2534478

Style 55 - 5-9 Units

Bedrooms 8

Year Built 1978

Annual Tax Amount $15,770

Lot Size 5,715 Sqft

Property Sub-Type Multi Family

Property Description

The property is positioned just south of Columbia City and within the broader Rainier Valley submarket, served by the Sound Transit Link light rail and direct bus access to downtown Seattle. The offering is an operational value-add opportunity. The asset has been updated over the years and does not require a large capital investment to perform. Current scheduled rents sit below market and the property does not currently bill back utilities to tenants. A new ownership group can grow income through natural lease turnover and the implementation of a utility recapture program, lifting NOI from $58,979 to $73,386 without renovation expense. The Henderson 7-Unit is priced at $1,100,000, or $157,143 per unit and $252 per rentable square foot, reflecting a 6.0% current cap rate and a 7.4% market cap rate. The asset offers an investor a meaningful cap rate spread, durable in-place income on a 1978 wood-frame building that has been fully updated over the last five years.

Location

State WA

County King

Area 385 - Sodo/Beacon Hill

Interior

Flooring Laminate

Fireplace false

Exterior

Exterior Feature Wood Products

View Y/N No

Roof Type Composition

Building

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Schools & Businesses

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RSVP Real Estate Group

RSVP Real Estate Group

+1(425) 610-7787

Real Estate Firm | License ID: 17634

Real Estate Firm License ID: 17634

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