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Leschi Four Unit 411 28th Ave S 4 Unit Apartment Building $975,000 ($243,750/Unit) 6.45% Cap Rate Seattle, WA 98144
INVESTMENT HIGHLIGHTS
- All 1BD/1BTH – 700 SF units
- Fully renovated in 2017
- Full size W/D in each unit
- Current CAP rate of 6.5%
- Centrally located in Leschi
- 3 off-street parking spaces
EXECUTIVE SUMMARY
The Leschi Four-Unit (two non-conforming units) is located at 411 28th Ave S in Seattle’s desirable Leschi neighborhood. Originally built as a fourplex and converted to a duplex in 1975, the property has been fully occupied as a fourplex since the current owner’s purchase in 2017. All four 1-bedroom, 1-bath units (approximately 700 SF each) underwent full renovations in 2017, giving new ownership the opportunity to acquire a stabilized asset with modern finishes in a strong rental location. Each unit is outfitted with hard-surface countertops, hardwood-style flooring, updated cabinetry, gas ranges, and full-size washer and dryers.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$62,895
|
$22.46
|
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 | $62,895 |
| Annual Per SF | $22.46 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Balcony
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Walk-In Closets
- Deck
- Porch
- Vinyl Flooring
- Quartz Countertops
SITE AMENITIES
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,800 | 700 |
1 1
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (79)
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