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Fauntleroy Landing 6318 41st Ave SW 6 Unit Apartment Building $4,524,590 ($754,098/Unit) 6.10% Cap Rate Seattle, WA 98136
Investment Highlights
- 1 block to Morgan Junction
- Floor to ceiling windows
- All utilities individually metered
- Roof top decks
- EV chargers
Executive Summary
6%+ cap rate in the heart of West Seattle Morgan Junction! Six tax parcels one building. Acquire 1031 then sell one unit every 2 years make this an advantageous tax move? New construction modern design & luxury commercial grade finishes combined with ideal location check all the boxes for landlord & tenant. Sustainability meets low cost of ownership make this the ideal investment opportunity. Nearly green built w/HE Mitsubishi in-ceiling ductless heating/cooling, dual Panasonic energy recovery ventilators, HE hybrid recirculating HW & heated tile floors. Open floorplan, floor to ceiling windows, ideal for entertaining. Rooftop deck w/commanding Puget Sound & Olympic Mountain views. Primary suite has dual WIC's w/custom built-in closet systems, dual sink vanity & custom shower tile/glass. Off-street parking with EV chargers. Urban living at its finest, steps to the Morgan Junction, dining, coffee, craft beers, Zeek's Pizza & the unsurpassed local & international selections of the West Seattle Town&Country/Thriftway. Minutes to Lincoln Park for hiking/biking & beach combing & Colman Saltwater Pool Seattle's ONLY saltwater swimming pool. Easy to rent, low turnover new construction with all the amenities tenants want make this a landlords dream.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$324,000
|
$37.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$324,000
|
$37.40
|
| Taxes |
$42,000
|
$4.85
|
| Operating Expenses |
$6,000
|
$0.69
|
| Total Expenses |
$48,000
|
$5.54
|
| Net Operating Income |
$276,000
|
$31.86
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $324,000 |
| Annual Per SF | $37.40 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $324,000 |
| Annual Per SF | $37.40 |
| Taxes | |
|---|---|
| Annual | $42,000 |
| Annual Per SF | $4.85 |
| Operating Expenses | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $0.69 |
| Total Expenses | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $5.54 |
| Net Operating Income | |
|---|---|
| Annual | $276,000 |
| Annual Per SF | $31.86 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Washer/Dryer Hookup
- Tile Floors
- Double Vanities
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- High Speed Internet Access
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Wi-Fi
- Deck
- Dining Room
- Double Pane Windows
- Freezer
- Garden
- Handrails
- Linen Closet
- Loft Layout
- Office
- Pantry
- Vinyl Flooring
- Quartz Countertops
- Floor to Ceiling Windows
Site Amenities
- Car Charging Station
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3 | 6 | $4,500 | 1,444 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 082600-0315 | Total Assessment | $578,000 (2025) |
| Land Assessment | $578,000 (2025) | Annual Taxes | $42,000 ($4.85/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
082600-0315
Land Assessment
$578,000 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$578,000 (2025)
Annual Taxes
$42,000 ($4.85/SF)
Tax Year
2026
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Presented by
Columbia Partners Real Estate
Fauntleroy Landing | 6318 41st Ave SW
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