816 N 38th St - Apartments FOR SALE


Seattle, WA 98103- Fremont
$1,900,000 USD
206-505-9400
816 N 38th St, Seattle, WA for Sale
$1,900,000 USD
Apartments - FOR SALE
1/18
null | 5.6% Cap Rate

816 N 38th St
Seattle, WA 98103
Fremont


HIGHLIGHTS

  • 5 Apartment Units + 1 Commercial Space
  • Centrally Located in Seattle's Fremont Neighborhood
  • Private Outdoor Patios
  • Shared Laundry , 1:1 Parking, Rooftop Deck

OVERVIEW

Originally constructed in 1990, the four-story building consists of five spacious residential apartments and one highly desirable commercial suite, creating a diversified income stream uncommon among properties of this size. The residential component includes four oversized one-bedroom units and one expansive two-bedroom unit, each featuring thoughtful floorplans designed to maximize functionality and natural light. All apartment homes benefit from southern exposure and offer generous living spaces, large bedrooms, well-ap-pointed kitchens with abundant cabinetry, and private outdoor patios. Additional in-unit amenities include a range, refrigerator, dishwasher, microwave, and air-conditioning. The ground-floor commercial space further enhances the property’s appeal, offering an attractive, flexible environment characterized by beautiful hardwood flooring, a kitchenette, and a private shower. This unique component provides investors with additional income diversification while serving a variety of potential tenant uses. The property has been meticulously maintained throughout ownership and features frame construction with durable vinyl siding and a pitched roof that remains in excellent condition. Additional tenant amenities include a common laundry facility, an inviting rooftop deck with neighborhood views, and an exceptional 1:1 parking ratio, an rare feature in Fremont’s urban core.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$378 USD /SF

# OF UNITS

5

PRICE/UNIT

$380,000

CAP RATE

5.6%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1990

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,400 SF

ZONING

C155(M)

APN/PARCEL ID

197220-1671

ASK ABOUT THIS PROPERTY

Richard KempSPMA - The Den ApartmentsMore Info
206-505-9400

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Richard KempSPMA - The Den ApartmentsMore Info
206-505-9400

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