1527 NE 150th St - Apartments FOR SALE


Seattle, WA 98155
$1,600,000 USD
206-658-7247
1527 NE 150th St, Seattle, WA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/35
null | 5.97% Cap Rate

1527 NE 150th St
Seattle, WA 98155


HIGHLIGHTS

  • Seller financing available
  • 5 Townhome units featuring 3 bedroom, 1.5 bathroom layouts averaging 1,116 SF plus a detached 857 SF SFH
  • Renovation value-add opportunity
  • All units have in-unit W/D

OVERVIEW

Financials listed are Proforma. Shoreline Townhomes + SFH is a 6-unit investment opportunity located at 1527–1529 NE 150th Street in Shoreline, Washington. The property includes five 3-bedroom, 1.5-bathroom townhome units and one detached 2-bedroom, 1-bathroom single-family home, totaling 6,437 rentable square feet. Seller financing is available to qualified buyers at an attractive 4.5% interest-only rate with a 5-year term and 25% down payment. The investment presents a compelling value-add opportunity through a renovation program combined with favorable financing. Current rents average $1,101 per unit, approximately 50% below market rates for comparable Shoreline properties. By implementing upgrades and leveraging Washington State RCW statutes (59.18.200, 59.18.650, 59.18.440), tenants may be relocated with proper 120-day notice for permitted renovations. Upon completion, projected rents could increase scheduled gross income by over 90% at stabilized market levels. The property benefits from a strong location within Shoreline, with proximity to highly regarded schools including Shorecrest High School, Kellogg Middle School, Briarcrest Elementary, and Shoreline Christian School, all within one mile. This location supports long-term tenant demand and sustained rental growth.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$249 USD /SF

# OF UNITS

6

PRICE/UNIT

$266,667

CAP RATE

5.97%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Northgate

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,218 SF

ZONING

NR1

APN/PARCEL ID

367050-0095

ASK ABOUT THIS PROPERTY

Ben DouglasParagon Real Estate AdvisorsMore Info
206-658-7247

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Ben DouglasParagon Real Estate AdvisorsMore Info
206-658-7247

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.