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507 19th Ave E 22 Unit Apartment Building $7,507,740 CAD ($341,261 CAD/Unit) 5.80% Cap Rate Seattle, WA 98112
Executive Summary
Built in 1968, this 19-unit apartment building offers an A+ Capitol Hill location in the heart of the 19th Ave E retail corridor, just steps from some of Seattle’s top restaurants and bars. The property features a desirable mix of spacious 1-bedroom and 2-bedroom units averaging approx. 706 SF, ample parking, and updates to key building systems. In-place operations provide steady, strong cash flow with clear upside through rent increases and unit improvements. Situated on a 16,800 SF parcel with NC1-55(M) zoning, 509 presents an exceptional value-add, land-bank, and future redevelopment opportunity in one of the city’s most coveted neighborhoods.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $7,507,740 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $341,261 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 5.80% | Building Size | 11,105 SF |
| Gross Rent Multiplier | 17 | Average Occupancy | 95% |
| No. Units | 22 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.53/1,000 SF |
| Zoning | NC1-40 | ||
| Price | $7,507,740 CAD |
| Price Per Unit | $341,261 CAD |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| Gross Rent Multiplier | 17 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 11,105 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1968 |
| Parking Ratio | 1.53/1,000 SF |
| Zoning | NC1-40 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,349 CAD | 560 |
| 2+1 | 10 | $3,170 CAD | 868 |
| Studios | 2 | $2,003 CAD | 404 |
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Walk Score®
Very Walkable (89)
Bike Score®
Biker's Paradise (92)
Property Taxes
| Parcel Number | 423240-0315 | Total Assessment | $9,191,438 CAD (2024) |
| Land Assessment | $9,190,071 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,368 CAD (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
423240-0315
Land Assessment
$9,190,071 CAD (2024)
Improvements Assessment
$1,368 CAD (2024)
Total Assessment
$9,191,438 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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507 19th Ave E
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