Henderson 7-Unit
4526 S Henderson Street Seattle WA 98118
Property Type Multi-family
Price $1,100000
Status Active
Property Highlights:
- Operational value-add play. NOI grows from $58,979 to $73,386 through lease turnover and a utility recapture program, with no renovation capital required.
- Current cap rate of 6.0% - Proforma cap rate - 7.4%
- Utility recapture upside of approximately $944 per month ($11,328 annually) is unrealized today and represents the largest single line of income growth.
- Priced at $157,143 per unit and $252 per square foot.
- Located within minutes of the Sound Transit Link light rail and direct bus access to downtown.
- Neighbors to Dunlap Elementary, Rainier Beach High School, and Rainier Beach Community Center.
- 1978 wood-framed construction, unit mix of 1 studio, 4 one-bedrooms, and 2 two-bedrooms.
Map single
