Search 5+ Unit Apartment Buildings in King, Pierce & Thurston Counties

Washington Apartment Buildings for Sale | 5+ Units

Explore 5+ unit commercial apartment buildings and rental investments across King, Pierce and Thurston counties. Compare available listings, legal unit counts, operating expenses and investment potential.

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Regional and Statewide Apartment Buildings | 5+ Units

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King, Pierce and Thurston Apartment Building MLS Results

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King, Pierce & Thurston County Apartment Buildings - 5+ Units

31624 W Rutherford Street, Carnation
$1,234,900
2600805 MLS ⋅ ACTIVE Status
Rare six-unit apartment building in downtown Carnation with owner financing available! Solid, turnkey investment opportunity offered at approximately a 6% cap rate. Situated on a 15,152 SF corner lot with R-24 zoning and potential for future expansion or redevelopment (buyer to verify). Unit mix includes (3) 2-bedroom and (3) 1-bedroom units. Long-term month-to-month tenants provide flexibility. Current rents well below market, offering significant upside in income and value. Additional current income from common laundry, plus tenant utility reimbursements. Improvements include newer windows, recently replaced upper decks, and a roof with substantial remaining life. Ample parking and convenient access to Redmond, Bellevue, and Microsoft.

31624 W Rutherford Street, Carnation

Listing Broker: Real Broker LLC; Charles Burnett; 206-931-6036; charles@soundrealtygroup.com

1814 E Denny Way, Seattle
$2,395,000
2599302 MLS ⋅ ACTIVE Status
Located along a quiet residential street between the vibrant 15th Avenue and 19th Avenue commercial corridors, Mod 19 offers residents immediate access to Capitol Hill’s restaurants, coffee shops, boutiques, grocery stores, and neighborhood amenities. Broadway, the Pike/Pine Corridor, Volunteer Park, and the Capitol Hill Light Rail Station are all within close walking distance, providing convenient access to Downtown Seattle, South Lake Union, the University District, and SeaTac Airport. Situated on a 4,000 square foot LR3-zoned lot, the property consists of eight thoughtfully designed units including four studios averaging approx. 255 SF, three 2BR/1BA units averaging approx. 620 SF, and a two-story penthouse 2BR/2BA unit totaling approx. 923 SF with expansive city, lake, and mountain views from the living room and private rooftop deck. The property features modern finishes throughout including granite countertops, stainless steel appliances, in-unit laundry, tile bathrooms, vinyl plank flooring, and large dual-pane vinyl windows. Additional features include hydronic radiant floor heating, individual hot water tanks, and modern electrical, plumbing, roofing, siding, and window systems consistent with newer construction standards. With modern design, durable construction, and an irreplaceable Capitol Hill location, Mod 19 Apartments offers investors a compelling combination of strong tenant demand, operational efficiency, and long-term appreciation potential.

1814 E Denny Way, Seattle

Listing Broker: Westlake Associates, Inc.; Curran C. Hagstrom; 206-505-9426; curran@westlakeassociates.com

14520 Phinney Avenue N, Shoreline
$3,200,000
2594452 MLS ⋅ PENDING Status
Conveniently located just North of Seattle City limits, the Highland Terrace Apartments offers a new investor a great value add opportunity with the flexibility of raising below market rents without the hassles and constraints of Seattle Landlord/Tenant laws. The value add here is to renovate all units with modern finishes, raise rents to market and implement a RUBS program to start billing back tenants for utilities. Ample carport and open parking. Updated electrical panels and newer TPO Roof. Potential to add in-unit washer and dryers. Upper units feature private decks. Individual hot water tanks for each unit. New secured tenant mailbox unit. Larger owner storage closet onsite.

14520 Phinney Avenue N, Shoreline

Listing Broker: Westlake Associates, Inc.; David W Petersen; 206-300-8909; david@westlakeassociates.com

1420 S J Street, Tacoma
$1,500,000
2601068 MLS ⋅ FIRST LOOK Status
1420 S J Street presents an opportunity to acquire a newly constructed, six-unit multifamily property in Tacoma’s Hilltop/New Tacoma area. Designed as two three-story triplex buildings, the property combines the privacy of small-scale multifamily with the efficiency of a professionally operated investment asset. The one-bedroom residences feature modern interiors, quartz countertops, stainless steel appliances, in-unit washer and dryer, air conditioning, and abundant natural light, with select units offering Mt. Rainier and regional views. A key investment advantage is the property’s approximately 11 years of remaining tax abatement, reducing property tax burden and enhancing in-place cash flow. Located near St. Joseph Medical Center, Downtown Tacoma and Tacoma Link light rail, the property offers convenient access to major employment, dining, entertainment and regional transportation. Its central location may also provide additional flexibility for furnished or short-term rental strategies. With new construction, limited near-term capital requirements, a walkable urban location and approximately 11 years of remaining tax abatement, 1420 S J Street offers investors a durable, low-maintenance asset with attractive income and operational flexibility.

1420 S J Street, Tacoma

Listing Broker: Lee & Associates Commercial RE; Nisha A Tomar; 253-722-9203; ntomar@lee-associates.com

2210 Franklin Avenue E, Seattle
$2,150,000
2600541 MLS ⋅ ACTIVE Status
The Franklin House is a seven-unit apartment building located at 2210 Franklin Ave E in Seattle’s Eastlake neighborhood. Priced at $2,150,000, the property delivers a 5.5% current cap rate with a clear path to a 6.6% cap rate at market rents and a 7.3% renovation cap rate on cost following an interior renovation program. Built in 1964 on a 6,600 square foot lot zoned LR3 (M), the wood frame building consists of 3 – 1BD/1BTH units, 3 - 2BD/1BTH units and 1 – 3BD/2BTH Penthouse unit with an in-unit washer/dryer on the top floor. Every unit has a private deck or patio, and units 301, 302, and the penthouse enjoy views of Lake Union. The building is operating well with a TPO roof installed roughly twelve years ago, copper plumbing, GE electrical panels, and double pane vinyl windows. Residents share a common laundry room and ten open parking stalls sit off the alley at the rear of the property. The penthouse is being delivered vacant, giving a buyer the chance to renovate the top floor lake view unit to its full potential or to occupy it while the remaining six units generate income. The parcel also carries development upside. The LR3 (M) zoning allows unlimited density inside the urban village, a structure height of 50 feet, a floor area ratio of 1.8, or 2.3 with a 4 Star Built Green certification, and no parking requirement given the frequent transit service on Eastlake Ave E. See the development optionality section for additional details within this OM.

2210 Franklin Avenue E, Seattle

Listing Broker: Paragon Real Estate Advisors; Michael Urquhart; 206-812-9123; michael@paragonrea.com

107 Williams Avenue S, Renton
$3,250,000
2595167 MLS ⋅ ACTIVE Status
Premier Downtown Renton Development Opportunity – Fully Entitled Shovel Ready 72-Unit Multifamily Site on 3-parcel Assemblage. Exceptional opportunity to acquire a premier 17,250sqft (0.40-acre) redevelopment site in the heart of Downtown Renton. Zoned CD (Center Downtown), this shovel-ready development opportunity includes plans for a 72-unit multifamily apartment community, positioning developers to capitalize on one of the Puget Sound region's fastest-growing urban markets. Designed to meet today's rental demand, the proposed project features 56 studio apartments, 14 two-bedroom units, and 2 three-bedroom units, creating an efficient unit mix. Located just steps from transit, restaurants, retail, banks, parks, and everyday amenities, the property offers exceptional walkability and connectivity. Residents will enjoy easy access to major highways, employment centers, schools, healthcare, and regional transit, making this an ideal location for long-term rental demand. The surrounding neighborhood continues to experience significant public and private investment, with new mixed-use and multifamily developments transforming Downtown Renton into one of the Eastside's most dynamic urban centers. With a $45,138 per unit price, this offering presents a rare opportunity to secure a high-density infill development site in a market characterized by limited land availability, strong apartment absorption, and continued population and employment growth.

107 Williams Avenue S, Renton

Listing Broker: Berkshire Hathaway HS NW; Martin J. Ho; 425-499-8909; team@ho-realty.com

2216 NE 46th Street, Seattle
$7,754,000
2600283 MLS ⋅ ACTIVE Status
Four parcels with 14 income producing units plus parking income on 49,991 SF of LR zoned land for sale for the first time in generations. All four properties have incredible peaceful park-like settings even though they are just a stones throw away from the University of Washington, UWMC Hospital, Burke-Gilman Trail & U-Village Shopping Center. 2216 NE 46th St consists of a 6-unit apartment building and a duplex for a total of 8-units on a 10,300 SF lot zoned LR3. 2226 NE 46th St is a 2,600 SF triplex on a 7,150 SF lot zoned LR3. 2230 NE 46th St (aka 4517 Ravenna Ave NE) is a 2,740 SF 3 bd/1.75 bath single-family home on a 14,338 SF lot zoned LR1. 4511 Ravenna Ave NE is an architecturally unique 1,025 SF duplex on a 18,203 SF lot zoned LR1. The properties provide steady income, but they are also prime for redevelopment with a strong demand for townhouses and cottage housing. The four parcels can be sold separately or together for the tax assessed values. Occupied by long-term residents. Please do not disturb the tenants.

2216 NE 46th Street, Seattle

Listing Broker: Windermere Real Estate Midtown; Lauren Hendricks; 206-999-9161; laurenhendricks@windermere.com

2231 Franklin Avenue E, Seattle
$5,950,000
2598588 MLS ⋅ ACTIVE Status
The Villa Anita Apartments is a 19 unit apartment building located at 2231 Franklin Ave E in Seattle’s Eastlake neighborhood. Priced at $5,950,000, or $348 per square foot, the property delivers a 5.0% current cap rate with a path to a 6.3% cap rate at market rents and 7.3% cap on cost following a renovation program. The unit mix is 18 - 2BD/1BTH units and 1 - 1BD/1BTH unit, a two-bedroom heavy mix that is rare in Eastlake’s apartment stock and in constant demand, and 12 of the units look out over Lake Union. Built in 1977 on a 15,400 square foot lot zoned LR3 (M), the building offers two-bedroom units of 856 to 982 square feet and a 739 square foot one bedroom. Every unit has a dishwasher and a private concrete deck or patio. Thirteen kitchens have quartz or granite countertops, eleven have updated cabinets, and fourteen bathrooms have updated vanities. The property offers a common laundry room with owned machines, roughly 19 storage units, an elevator, and 20 parking stalls, six covered and fourteen open, in a neighborhood where parking is scarce. Building systems include copper plumbing, GE electrical panels, electric heat, double pane vinyl windows, a roof approximately 15 years old, and individual hot water tanks all replaced within the last four years.

2231 Franklin Avenue E, Seattle

Listing Broker: Paragon Real Estate Advisors; Michael Urquhart; 206-812-9123; michael@paragonrea.com

30114 E Orville Road, Graham
$1,895,000
2597663 MLS ⋅ ACTIVE Status
Kapowsin Country Park Offers An Investment Opportunity On 4.76 Acres Across Two Parcels In Graham, Washington, Approximately Half A Mile From Kapowsin Lake. The Property Combines Existing Rental Income With Opportunities For Growth. - Approximately 15,009 Square Feet Of Rentable Space - 10 Park-Owned Manufactured Homes: Six Double-Wides And Four Single-Wides - Five Month-To-Month RV Spaces - Approximately 2,320-Square-Foot Garage, Warehouse, And Outdoor Storage - Laundry Building With Potential Conversion To An Additional Rental Unit - Estimated $500,000–$600,000 Minimum Value In Park-Owned Homes - Seller Financing Considered With 50% Down Increase Income Through Allowable Rent Increases Under Washington State Rent Control Provisions, Garage And Warehouse Rentals, Outdoor And RV Storage, And Conversion Of Existing Improvements. 2026 Pro Forma: $131,448 Net Income; 6.93% Cap Rate. 2027–2028 Pro Forma: $281,176 Gross Income, $239,760 Net Income, And A 12.65% Cap Rate, Based On Anticipated Rent Increases And Planned Improvements. Kapowsin Lake Offers Nearby Fishing And Outdoor Recreation. Tacoma Is Approximately 16 Miles Away And Puyallup 9 Miles Away. Pierce County Has Approximately 904,000 Residents. With Established Rental Operations And Multiple Income-Growth Opportunities, Kapowsin Country Park Offers Current Returns And Long-Term Potential. See Pages 5–7 Of The Attached Package For The Rent Roll And Details. Contact The Listing Broker To Arrange A Tour.

30114 E Orville Road, Graham

Listing Broker: Real Estate 2000 Inc.; David M. Hilbert; 425-280-6542; dave@re2000homes.com

6550 Greeenwood Avenue N, Seattle
$2,800,000
2596693 MLS ⋅ ACTIVE Status
Come tour! $233K per Unit in "A" Location! | The Phinney Apartments is a 12-unit value-add apartment investment opportunity that will be delivered 75% vacant at closing, providing a rare opportunity for a new investor to sidestep many of Seattle’s stringent landlord-tenant regulations and immediately begin renovations on day one. The property is located in the heart of highly desirable Phinney Ridge, just steps from popular neighborhood restaurants and establishments including Red Mill Burgers, El Chupacabra, ThaiKu, Ridgewood Bottle & Tap, GH Pasta & Pizza, and convenient Metro bus service. Supported by a comprehensive renovation budget found in the marketing brochure, a new investor has the potential to achieve a 22.21% leveraged IRR upon sale at the end of Year 3. The unit mix consists of nine one-bedroom units averaging 585 square feet, two two-bedroom units averaging 750 square feet, and one three-bedroom, one-bathroom unit with an additional office, totaling approximately 860 square feet. Each apartment features original 1960's finishes with real hardwood floors underneath the carpeted living spaces. Units 12 & 6 feature in-unit fireplaces. Property amenities include an on-site common laundry room, 12 covered carport parking stalls, and 12 individual storage lockers. The property also features a dedicated maintenance room currently being utilized for owner storage, along with an approximately 400-square-foot bonus room. Come tour!

6550 Greeenwood Avenue N, Seattle

Listing Broker: Blake Investment Advisors; Gabe Blake; 206-618-2207; gabe@blakeia.com

3911 Woodland Park Avenue N, Seattle
$1,525,000
2596394 MLS ⋅ ACTIVE Status
The Woodland Park Ave Apartment is on the market for the first time in over 28 years! This charming five-unit apartment building is tucked between two of Seattle’s most vibrant and sought-after neighborhoods, Fremont and Wallingford, making for a great investment for an opportunist who is bullish on Seattle. Originally built in 1918, with a connected triplex addition added in 1986, Woodland Park Ave Apartments offers a well-balanced mix of five units: 1 - one-bedroom, one-bathroom unit, 3 - two-bedroom, one-bathroom units, and 1 - spacious three-bedroom, one-and-a-half-bathroom unit, totaling approximately 5,170 net rentable square feet. Each unit comes with its own washer/dryer, water heater, full kitchen appliance package and electric wall heat. The building is equipped with vinyl frame dual-pane windows and all electrical systems throughout the property are up-to-code and in good working condition. The triplex addition is fully sprinklered and has copper plumbing while the main house is a mix of plumbing. In-place rents are currently more than 40% below market, providing an incoming owner with immediate, low-lift upside by bringing units to market rents as they naturally turn over. Additional value can be created through interior renovations. There is also untapped income potential through parking and utility bill-backs that have yet to be implemented.

3911 Woodland Park Avenue N, Seattle

Listing Broker: Paragon Real Estate Advisors; Will Douglas; 206-812-9108; Will@ParagonREA.com

714 N 1st Avenue N, Seattle
$1,900,000
2596566 MLS ⋅ ACTIVE Status
Rare Lower Queen Anne investment opportunity! This charming six-unit apartment building combines an exceptional Seattle location with a compelling value-add opportunity.? All six units have been recently renovated and feature a desirable mix of four two-bedroom/one-bath units and two one-bedroom/one-bath units.? Historically low tenant turnover and strong rental demand make this an attractive income-producing asset.? A rare seven-car parking lot, separate paid laundry room, and individual water meters for each unit add to the appeal.? With parking at a premium and future redevelopment potential to explore, this property offers investors the opportunity to hold a well-located asset today while considering its longer-term upside.?

714 N 1st Avenue N, Seattle

Listing Broker: Windermere Real Estate Co.; Leah Hill; 206-852-7634; leahhill@windermere.com

3055 NE 140th Street, Seattle
$2,150,000
2596136 MLS ⋅ ACTIVE Status
Turnkey 10-unit Marella Apartments in Seattle’s Lake City neighborhood. All major capital projects are complete: fully re-sided with exterior paint, new roof and new windows (2023), new electrical panels (2025) and a new sewer line (2025-26), with updated common areas. Seven of ten units are renovated, leaving only three to turn. Professionally managed with zero vacancies and zero delinquencies, and all paperwork is in order: move-in reports, security deposits and last month’s rent on file. Eight 1BD/1BA (approx. 675 sf) and two 2BD/1BA (approx. 850 sf) units, plus 14 off-street parking spaces. Built 1968, effective year built 1992 per tax records, on an 8,480 sf lot. Large walk-in closets next to each hot water tank make adding in-unit washers and dryers easy. Close to Lake City Way shops, services and transit, with Stride bus rapid transit coming in 2028. 5.76% cap rate on in-place rents, 6.85% at market.

3055 NE 140th Street, Seattle

Listing Broker: Opal Blue Real Estate, LLC; Grant Fosheim; 425-359-7259; Grant@OpalBlueRE.com

712 N 143rd Street, Seattle
$2,285,000
2596055 MLS ⋅ ACTIVE Status
Windchime Apartments is a 14-unit apartment building at 712 N 143rd St in North Seattle's Bitter Lake neighborhood. Built in 1983 on a 9,962 SF lot zoned LR3(M), the three-story building offers 10,280 net rentable SF across eleven one-bedroom and three two-bedroom units. Recent capital improvements include a new TPO membrane roof (2023), upgraded electrical panels (2024) and replaced window panes (2025), with copper plumbing throughout. Unit 303 was fully renovated in September 2026 and Unit B1 was refreshed with new paint. The property has common laundry and eleven on-site parking stalls currently provided at no charge. In-place rents sit below market, with upside through unit upgrades on turnover, paid parking and a utility bill-back program. Nearby are the Shoreline South/148th light rail station, Bitter Lake, the Interurban Trail, Northgate Station and I-5. Some interior photos are virtually staged.

712 N 143rd Street, Seattle

Listing Broker: Paragon Real Estate Advisors; Michael Urquhart; 206-812-9123; michael@paragonrea.com

4001 NE 50th Street, Seattle
$3,300,000
2595724 MLS ⋅ ACTIVE Status
The John Henry Apartments presents an exceptional investment opportunity in Seattle's highly desirable Laurelhurst neighborhood. Located at 4001 NE 50th Street, this well-maintained, 14-unit apartment community offers convenient access to Seattle Children's Hospital, University Village, and the University of Washington. Built in 1961, the property features a desirable unit mix of nine one-bedroom and five two-bedroom apartments, averaging approximately 714 square feet. Property amenities include 14 off-street parking stalls, 14 individual tenant storage units, shared laundry facilities, and private patios in select units. Recent improvements include a new roof installed in 2019, double-pane vinyl windows, and updated LVP flooring in most units. Spacious floor plans and thoughtful updates enhance the property's appeal. Offered at $3,300,000, or approximately $236,000 per unit, The John Henry provides investors with strong in-place cash flow at a 5.9% cap rate, along with additional rental upside. Available for the first time in over 20 years, this is a rare opportunity to acquire a well-located multifamily asset in one of Seattle's premier residential neighborhoods.

4001 NE 50th Street, Seattle

Listing Broker: Kidder Mathews; Max Frame; 360-705-2800; max.frame@kidder.com

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Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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