4700 SW Othello St - Apartments FOR SALE


Seattle, WA 98136- Gatewood
$1,450,000 USD
360-771-0010
4700 SW Othello St, Seattle, WA for Sale
$1,450,000 USD
Apartments - FOR SALE
1/17
null | 4.99% Cap Rate

4700 SW Othello St
Seattle, WA 98136
Gatewood


HIGHLIGHTS

  • Prime West Seattle location near Lincoln Park and Lowman Beach
  • Unit Mix: 2 Studios, 3 One-Bed/One-Bath units, 1 Two-Bed/One- Bath unit
  • Two garages for off street tenant parking or storage
  • Blocks from the California Ave SW retail corridor
  • High ceilings, oak hardwood floors, and classic architectural charm
  • Unique floor plans that attract and retain renters

OVERVIEW

Paragon Real Estate Advisors is pleased to present Lincoln Park 6, a six-unit multifamily investment located in the highly coveted Lincoln Park/Fauntleroy neighborhood of West Seattle. Just one block from Lincoln Park and minutes to the California Ave SW retail corridor and Alki Beach, the property is ideally positioned to benefit from strong renter demand, exceptional walkability, and the enduring appeal of West Seattle’s premier coastal amenities. Opportunities to acquire apartments in this pocket are limited due to historically low turnover, making The Lincoln Park 6 a rare chance to secure a well-located asset in one of West Seattle’s desirable submarkets. Originally built in 1910 and recently updated over the years, Lincoln Park 6 offers clear value-add potential through cosmetic interior upgrades, providing new ownership with the ability to significantly increase rents to align with market levels. The building contains 2 Studios, 3 One-Bed/One-Bath units, 1 Two-Bed/One-Bath unit. The interiors remain clean and well-maintained, offering a strong base for future modernization while preserving the property’s classic charm. Common areas and building systems have been maintained over the years, and the site’s central Fauntleroy/Lincoln Park location offers tenants immediate access to parks, beaches, transit, and neighborhood amenities. With current rents below market for the area, thoughtful renovations present a straightforward path toward income growth and improved operational performance. With its irreplaceable setting, long-term tenant appeal, and multiple avenues for revenue enhancement, The Park Apartments offers investors a rare opportunity to acquire a charming, well-maintained asset with strong upside.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$377 USD /SF

# OF UNITS

6

PRICE/UNIT

$241,667

CAP RATE

4.99%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lincoln Park 6

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,170 SF

ZONING

LR1 (M)

APN/PARCEL ID

431570-0670

ASK ABOUT THIS PROPERTY

Tanner FogleParagon Real Estate AdvisorsMore Info
360-771-0010

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Tanner FogleParagon Real Estate AdvisorsMore Info
360-771-0010

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