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The Dublin 1052 E Thomas St 29 Unit Apartment Building $6,500,000 ($224,138/Unit) 5.56% Cap Rate Seattle, WA 98102
INVESTMENT HIGHLIGHTS
- Premier A+ Location – Situated in one of Seattle’s most desirable and stable rental markets.
- Trophy Asset – A classic brick, wood-framed building showcasing timeless craftsmanship and old-world charm.
- Modernized Building Systems - Includes plumbing, electrical, windows and roofing
- Unmatched Walkability – Boasts a Walk Score of 98/100 – a true Walker’s Paradise
- Well-Maintained & Updated – Thoughtful unit renovations while preserving historic character.
- Desirable Unit Mix – A balanced combination of studio and one-bedroom apartments, catering to the Capitol Hill rental demographic.
EXECUTIVE SUMMARY
Well located 29 unit building with period charm intact! The Dublin offers a well-balanced mix of studio and one-bedroom units. Many of the studios feature an alcove, often used as a sleeping area, leading some to refer to them as “junior one-bedrooms.” All units are spacious and inviting, boasting tall ceilings, beautiful original hardwood floors, charming period details, and abundant natural light. The building features a secure entry and a common laundry room with designated storage bins for each unit. Building has been meticulously maintained, with significant upgrades which include unit updates on turnover, updated electrical and plumbing, a recently replaced TPO membrane roof, and double-pane vinyl windows. Building is wood framed.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$361,471
|
$16.51
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $361,471 |
| Annual Per SF | $16.51 |
PROPERTY FACTS Under Contract
| Price | $6,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $224,138 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 5.56% | Building Size | 16,744 SF |
| Gross Rent Multiplier | 11 | No. Stories | 3 |
| No. Units | 29 | Year Built | 1909 |
| Property Type | Multifamily | Parking Ratio | 0.06/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | L3, Seattle | ||
| Price | $6,500,000 |
| Price Per Unit | $224,138 |
| Sale Type | Investment |
| Cap Rate | 5.56% |
| Gross Rent Multiplier | 11 |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 16,744 SF |
| No. Stories | 3 |
| Year Built | 1909 |
| Parking Ratio | 0.06/1,000 SF |
| Zoning | L3, Seattle |
AMENITIES
UNIT AMENITIES
- Storage Space
- Heating
- Kitchen
- Hardwood Floors
- Vaulted Ceiling
- Range
- Yard
- Island Kitchen
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
- Security System
- Vintage Building
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 14 | $1,485 | 550 |
| 1+1 | 15 | $1,700 | 600 |
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Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (82)
Bike Score®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 600350-2025 | Improvements Assessment | $2,651,200 |
| Land Assessment | $3,290,800 | Total Assessment | $5,942,000 |
PROPERTY TAXES
Parcel Number
600350-2025
Land Assessment
$3,290,800
Improvements Assessment
$2,651,200
Total Assessment
$5,942,000
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The Dublin | 1052 E Thomas St
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