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Fredrick Apartments 4737 Brooklyn Ave NE 11 Unit Apartment Building $3,500,000 ($318,182/Unit) 4.12% Cap Rate Seattle, WA 98105
Investment Highlights
- Rare opportunity to acquire a stabilized 11-unit apartment property in one of Seattle's highest-demand rental markets.
- Assembly
- Development potential
- Value in land
Executive Summary
4737 Brooklyn Ave NE is a well-located multifamily property in Seattle’s University District, offering a straightforward combination of stable income and long-term upside in one of the city’s most consistently in-demand rental markets.
The property consists of approximately 11 residential units and benefits from its position within a highly established urban neighborhood. Its location near the University of Washington, along with strong access to transit, employment centers, and surrounding amenities, continues to support steady rental demand and long-term occupancy stability.
The asset is currently performing as a reliable income-producing property, with established tenancy and consistent cash flow. It offers immediate performance without requiring repositioning, making it a stable hold in the current market environment while going through the entitlement process.
4737 Brooklyn Ave NE presents a balanced investment profile—stable current income supported by strong rental fundamentals, combined with long-term optionality driven by location and asset characteristics. It is a straightforward multifamily opportunity in a proven Seattle rental corridor with enduring demand.
The property consists of approximately 11 residential units and benefits from its position within a highly established urban neighborhood. Its location near the University of Washington, along with strong access to transit, employment centers, and surrounding amenities, continues to support steady rental demand and long-term occupancy stability.
The asset is currently performing as a reliable income-producing property, with established tenancy and consistent cash flow. It offers immediate performance without requiring repositioning, making it a stable hold in the current market environment while going through the entitlement process.
4737 Brooklyn Ave NE presents a balanced investment profile—stable current income supported by strong rental fundamentals, combined with long-term optionality driven by location and asset characteristics. It is a straightforward multifamily opportunity in a proven Seattle rental corridor with enduring demand.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $318,182 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 4.12% | Building Size | 7,682 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 15.77 | No. Stories | 3 |
| No. Units | 11 | Year Built/Renovated | 1924/2021 |
| Property Type | Multifamily | Parking Ratio | 0.52/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | NC365, Seattle - Seattle Mixed-Use (SM-U 75-240) zoning permitting mixed-use residential and commercial development with a maximum height of 75 feet. | ||
| Price | $3,500,000 |
| Price Per Unit | $318,182 |
| Sale Type | Investment |
| Cap Rate | 4.12% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 15.77 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,682 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1924/2021 |
| Parking Ratio | 0.52/1,000 SF |
| Zoning | NC365, Seattle - Seattle Mixed-Use (SM-U 75-240) zoning permitting mixed-use residential and commercial development with a maximum height of 75 feet. |
Amenities
Unit Amenities
- Disposal
- Washer/Dryer
- Hardwood Floors
- Refrigerator
- Range
Site Amenities
- Controlled Access
- Pet Play Area
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 881740-0090 | Total Assessment | $2,585,000 (2025) |
| Land Assessment | $2,494,800 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $90,200 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
881740-0090
Land Assessment
$2,494,800 (2025)
Improvements Assessment
$90,200 (2025)
Total Assessment
$2,585,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Fredrick Apartments | 4737 Brooklyn Ave NE