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4526 S Henderson St
Seattle, WA 98118
Multifamily Property For Sale
·
7 Units
Investment Highlights
- Current cap rate of 6.0% - Proforma cap rate - 7.4%
- Located within minutes of the Sound Transit Link light rail and direct bus access to downtown.
- Priced at $157,143 per unit and $252 per square foot.
- Neighbors to Dunlap Elementary, Rainier Beach High School, and Rainier Beach Community Centre.
Executive Summary
Operational value-add play. NOI grows from $58,979 to $73,386 through lease turnover and a utility recapture program, with no renovation capital required.
Current cap rate of 6.0% - Proforma cap rate - 7.4%
Utility recapture upside of approximately $944 per month ($11,328 annually) is unrealized today and represents the largest single line of income growth.
Priced at $157,143 per unit and $252 per square foot.
Located within minutes of the Sound Transit Link light rail and direct bus access to downtown.
Neighbors to Dunlap Elementary, Rainier Beach High School, and Rainier Beach Community Center.
1978 wood-framed construction, unit mix of 1 studio, 4 one-bedrooms, and 2 two-bedrooms.
Current cap rate of 6.0% - Proforma cap rate - 7.4%
Utility recapture upside of approximately $944 per month ($11,328 annually) is unrealized today and represents the largest single line of income growth.
Priced at $157,143 per unit and $252 per square foot.
Located within minutes of the Sound Transit Link light rail and direct bus access to downtown.
Neighbors to Dunlap Elementary, Rainier Beach High School, and Rainier Beach Community Center.
1978 wood-framed construction, unit mix of 1 studio, 4 one-bedrooms, and 2 two-bedrooms.
Property Facts
| Price Per Unit | $223,247 CAD | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 4,358 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.84/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | SM-RB 85 (M) | ||
| Price Per Unit | $223,247 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,358 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1978 |
| Parking Ratio | 1.84/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | SM-RB 85 (M) |
Amenities
Unit Amenities
- Balcony
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,776 CAD | 390 |
| 2+1 | 2 | $2,557 CAD | 854 |
| 1+1 | 4 | $1,847 CAD | 565 |
Property Taxes
| Parcel Number | 680410-0175 | Improvements Assessment | $1,550,792 CAD |
| Land Assessment | $527,633 CAD | Total Assessment | $2,078,426 CAD |
Property Taxes
Parcel Number
680410-0175
Land Assessment
$527,633 CAD
Improvements Assessment
$1,550,792 CAD
Total Assessment
$2,078,426 CAD
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