8356 16th Avenue NW, Seattle, WA 98117
- $4,810,000
- 23,381
- SqFt
Listing Broker: Westlake Associates, Inc.; Curran C. Hagstrom; ; Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $4,810,000
- List Price
- $4,600,000
- Status
- SOLD
- MLS#
- 2440232
- Closing Date
- Dec 17, 2025
- Days on Market
- 19
- Style
- 56 - 10+ Units
- Finished SqFt
- 23,381
- Area Total SqFt
- 23381
- Annual Tax Ammount
- 34067
- Lot Size (sq ft)
- 10,430
- Sewer
- Sewer Connected
Property Description
Crown Hill 13 is on the market for the first time since its 2001 construction. This 13-unit, well-built apartment community sits at the border of Loyal Heights and Crown Hill, near shops, dining, and entertainment along the Crown Hill corridor. Secure entry with elevator, garage parking plus large storage lockers. 7 of 13 units have been upgraded. 6 units provide value-add with potential for turnover. It’s close to Golden Gardens Park, Ballard Avenue, and just seven miles from South Lake Union and Downtown Seattle. With a 5.5% in-place cap rate, large floor plans, quality construction, and room for rent growth and renovations, this is a rare chance to own a strong income-producing property in one of Seattle’s top rental markets.
Additional Information
- List Date
- 2025-11-28 00:00:00
- Community
- Crown Hill
- Net Operating Income
- $253,003
- Gross Adjusted Income
- $382,014
- Gross Scheduled Income
- $402,120
- Total Monthly Income
- $33,510
- Insurance Expenses
- $14,500
- Water/Sewer/Garbage Expenses
- $24,918
- Gross Rent Multiplier
- 11.44
- Total Expenses
- $129,011
- Cap Rate
- 5.5
- Vacancy Rate
- 5
- Total Number of Units
- 13
- Unit Name
- 8356
- Potential Terms
- Cash Out, Conventional
- Year Built
- 2001
- Roof
- Composition
- Site Features
- Deck, Gated Entry
- Other Expenses
- 55526
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $33,510
- Gross Scheduled Income
- $402,120
- Vacancy Rate
- 5
- Gross Adjusted Income
- $382,014
- Tax Year
- 2025
- Insurance Expense
- $14,500
- W/S/G Expenses
- $24,918
- Total Expenses
- $129,011
- Net Operating Income
- $253,003
- Gross Rent Multiplier
- 11.44
- Cap Rate
- 5.5
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.