1505 E Galer St 4 Unit Apartment Building $1,425,000 ($356,250/Unit) 3.31% Cap Rate Seattle, WA 98112

Well positioned in Seattle’s premier North Capitol Hill neighborhood at the corner of 15th Ave E and E Galer St, this fourplex offers an exceptional investment opportunity directly across from iconic Volunteer Park, renowned for its Olmsted-designed landscape.
The property benefits from a highly walkable, transit-oriented location with convenient access to South Lake Union, Downtown Seattle, and the Eastside, making it especially attractive to tenants seeking both connectivity and neighborhood charm.
The building features classic mid-century architecture and a preferable unit mix comprised of three one-bedroom units and one two-bedroom unit, appealing to a broad renter base. Residents enjoy desirable amenities including four off-street parking spaces, on-site laundry, dedicated storage, and updated dual-pane windows that enhance comfort and efficiency.
In addition to its stable and profitable current operations and income upside, the property presents a compelling redevelopment opportunity. Situated on a 4,640 square foot LR3-zoned parcel, the site offers significant upside potential for future townhome development, allowing investors to capitalize on the area’s continued growth and demand.
This is a unique opportunity to acquire a well-located, income-producing asset with immediate stability, income upside, and long-term development potential in one of Seattle’s desirable neighborhoods.
Note: Figures include scheduled rent increases that will take place July 1, 2026.