MLS #2534478 / Listing provided by NWMLS & Paragon Real Estate Advisors.
$1,100,000
4526 S Henderson Street
Seattle,
WA
98118
Sq Ft
Per Sq Ft
Year Built
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.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Garage Spaces: 0
- Parking Total: 7
- Total Uncovered Parking Spaces: 7
Structure
- Roof: Composition
- Exterior Features: Wood Products
- Foundation: Poured Concrete
Lot Details
- Acres: 0.1312
- Foundation: Poured Concrete
Schools
- High School District: Seattle
Lot Details
- Acres: 0.1312
- Foundation: Poured Concrete
Power
- Energy Source: Electric
Water, Sewer, and Garbage
- Sewer: Sewer Connected
- Water Source: Public
- Water, Sewer, and Garbage: 13333
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