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5954 Fauntleroy Way - West Seattle Triplex 3 Unit Apartment Building Offered at $1,917,594 CAD at a 5.22% Cap Rate Seattle, WA 98126
Investment Highlights
- Located in West Seattle’s Fauntleroy neighborhood
- Washer/dryer in units
- 4 on-site parking spaces
- All 2-bedroom, 1.75-bath units – 1,030 square feet
- Private decks
- Easy access to public transportation lines
Executive Summary
Originally built in 1968, the property has an excellent occupancy history having been fully remodeled throughout. All three units are large 2-bedroom, 1.75-bath units (approximately 1,030 SF each), giving new ownership the opportunity to acquire a stabilized asset with modern finishes in a strong rental location. Each unit is outfitted with new countertops, hardwood-style flooring, updated cabinetry, new fixtures, stainless steel appliances, and full-size washer/dryers. Residents enjoy private decks, storage options, and the convenience of four off-street parking spaces—amenities that help ensure strong tenant demand and long-term retention. With an attractive in-place CAP rate of 5.22% and no immediate renovation needs, the West Seattle Triplex offers investors durable cash flow from day one in a centrally located neighborhood with continued growth potential. Residents enjoy convenient access to major public transportation lines, providing connectivity to Downtown Seattle and surrounding employment centers. West Seattle’s continued popularity and walkability will continue to support strong tenant demand and long-term rent growth.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$100,112
|
$32.40
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $100,112 |
| Annual Per SF | $32.40 |
Property Facts
| Price | $1,917,594 CAD | Property Type | Multifamily |
| Price Per Unit | $639,198 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 5.22% | Building Size | 3,090 SF |
| Gross Rent Multiplier | 7.8 | No. Stories | 3 |
| No. Units | 3 | Year Built | 1968 |
| Zoning | LR2 (M) | ||
| Price | $1,917,594 CAD |
| Price Per Unit | $639,198 CAD |
| Sale Type | Investment |
| Cap Rate | 5.22% |
| Gross Rent Multiplier | 7.8 |
| No. Units | 3 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Lot Size | 0.10 AC |
| Building Size | 3,090 SF |
| No. Stories | 3 |
| Year Built | 1968 |
| Zoning | LR2 (M) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 3 | $3,459 CAD | 1,030 |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 762570-2786 | Improvements Assessment | $770,057 CAD (2024) |
| Land Assessment | $599,396 CAD (2024) | Total Assessment | $1,369,453 CAD (2024) |
Property Taxes
Parcel Number
762570-2786
Land Assessment
$599,396 CAD (2024)
Improvements Assessment
$770,057 CAD (2024)
Total Assessment
$1,369,453 CAD (2024)
Contacts
-
Brian Platt -
Michael Urquhart -
Ben Douglas -
Rowan Davis -
Paragon Real Estate Advisors
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5954 Fauntleroy Way - West Seattle Triplex
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