4526 S Henderson Street, Seattle, WA 98118
- $1,100,000
- 4,358
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $1,100,000
- Status
- PENDING
- MLS#
- 2534478
- Days on Market
- 41
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,358
- Area Total SqFt
- 4358
- Annual Tax Ammount
- 15770
- Lot Size (sq ft)
- 5,715
- Sewer
- Sewer Connected
Property Description
The property is positioned just south of Columbia City and within the broader Rainier Valley submarket, served by the Sound Transit Link light rail and direct bus access to downtown Seattle. The offering is an operational value-add opportunity. The asset has been updated over the years and does not require a large capital investment to perform. Current scheduled rents sit below market and the property does not currently bill back utilities to tenants. A new ownership group can grow income through natural lease turnover and the implementation of a utility recapture program, lifting NOI from $58,979 to $73,386 without renovation expense. The Henderson 7-Unit is priced at $1,100,000, or $157,143 per unit and $252 per rentable square foot, reflecting a 6.0% current cap rate and a 7.4% market cap rate. The asset offers an investor a meaningful cap rate spread, durable in-place income on a 1978 wood-frame building that has been fully updated over the last five years.
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Additional Information
- List Date
- 2026-07-10 21:50:13
- Community
- Dunlap
- Net Operating Income
- $65,853
- Gross Adjusted Income
- $114,570
- Gross Scheduled Income
- $120,600
- Total Monthly Income
- $10,050
- Insurance Expenses
- $7,864
- Water/Sewer/Garbage Expenses
- $13,333
- Gross Rent Multiplier
- 9.12
- Total Expenses
- $48,717
- Cap Rate
- 5.99
- Vacancy Rate
- 5
- Total Number of Units
- 7
- Unit Name
- 4526
- Potential Terms
- Cash, Conventional
- Year Built
- 1978
- Roof
- Composition
- Other Expenses
- 11750
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $10,050
- Gross Scheduled Income
- $120,600
- Vacancy Rate
- 5
- Gross Adjusted Income
- $114,570
- Tax Year
- 2026
- Insurance Expense
- $7,864
- W/S/G Expenses
- $13,333
- Total Expenses
- $48,717
- Net Operating Income
- $65,853
- Gross Rent Multiplier
- 9.12
- Cap Rate
- 5.99
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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.