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633 W Emerson St 4 Unit Apartment Building Offered at $1,395,000 at a 4.69% Cap Rate Seattle, WA 98119
Investment Highlights
- Excellent North Queen Anne location
- Immediate upside in income in current condition with further upside through renovation
- 4 off-street parking stalls
- 2 blocks from Seattle Pacific University campus
- Private patio/yard spaces and outside storage
- System updates: Copper plumbing, double-paned vinyl windows, Square D electric panels
Executive Summary
Exceptionally clean fourplex located in North Queen Anne. All apartments have in-unit laundry, functional layouts, and complete kitchen appliance packages. The interior finishes blend original elements and simple updates that have been done over time. Perfect opportunity for an owner-user to move in and occupy one of the units. The future owner can capitalize on this and easily modernize the units cosmetically to increase income potential. The property offers a perfect blend of in-city living with a safe, quiet neighborhood feel. Located just a short drive on Highway 99 to downtown and within walking distance of Seattle Pacific University, the Fremont Sunday Market, and the shops atop Queen Anne Hill, this property is ideal for prospective tenants.”
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$65,847
|
$22.71
|
Financial Summary (Actual - 2025)
| 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 | $65,847 |
| Annual Per SF | $22.71 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,425 | 575 |
| 2+1 | 3 | $1,998 | 700 - 925 |
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Property Taxes
| Parcel Number | 744300-0535 | Improvements Assessment | $187,000 (2024) |
| Land Assessment | $880,000 (2024) | Total Assessment | $1,067,000 (2024) |
Property Taxes
Parcel Number
744300-0535
Land Assessment
$880,000 (2024)
Improvements Assessment
$187,000 (2024)
Total Assessment
$1,067,000 (2024)
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