9043 35Th AveSeattle, WA 98126
- Apartment buildings
Property Details for 9043 35Th Ave
- Year built
- 1960
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a fully renovated, 13-unit apartment building located at 9043 35th Ave SW, Seattle, WA 98126. The property, built in 1960 and extensively renovated in 2019, boasts 7,976 square feet of net rentable space situated on a 13,216 square foot lot. Currently operating as a stabilized asset, the property offers a compelling 5.67% cap rate with a projected NOI of $169,876. Pro-forma projections indicate a 5.98% cap rate and a NOI of $179,092, suggesting significant upside potential. The property is zoned NC2P-55 (M) and consists of a single, two-story building. Each of the 13 units offers a price per unit of $230,384.62, contributing to the overall asking price of $2,995,000. The property's location in West Seattle provides convenient access to desirable amenities and a strong rental market. The existing structure presents a covered land play opportunity, with potential for further value enhancement through the addition of a studio unit in the maintenance room and strategic rent increases. This is a prime investment opportunity for those seeking stable cash flow and significant long-term growth potential in a highly sought-after Seattle neighborhood. The property's strong financials, combined with its location and renovation history, make it an attractive addition to any investment portfolio. The Assessor's Parcel Number (APN) is 2491200880.
Location Insight
- City
- Seattle
- County
- King
- State
- Washington
- Latitude
- 47.5215
- Longitude
- -122.377
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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