$1,100,000
ActiveListing provided by Ben Douglas, Paragon Real Estate Advisors
0
DOM
About this property.
The property is positioned just south of Columbia City and within the broader Rainier Valley submarket, served by the Sound Transit Link light rail and direct bus access to downtown Seattle. The offering is an operational value-add opportunity. The asset has been updated over the years and does not require a large capital investment to perform. Current scheduled rents sit below market and the property does not currently bill back utilities to tenants. A new ownership group can grow income through natural lease turnover and the implementation of a utility recapture program, lifting NOI from $58,979 to $73,386 without renovation expense. The Henderson 7-Unit is priced at $1,100,000, or $157,143 per unit and $252 per rentable square foot, reflecting a 6.0% current cap rate and a 7.4% market cap rate. The asset offers an investor a meaningful cap rate spread, durable in-place income on a 1978 wood-frame building that has been fully updated over the last five years.
Property details.
Features.
Exterior
Heating
Cooling
Flooring
Agent information.
Schedule a Showing
Pick a day and time, and Austin will follow up to confirm.
By continuing, you consent to be contacted by Welcome to Whatcom and John L. Scott - Bellingham about this showing via call, text, or email.
Listed by: Ben Douglas, Paragon Real Estate Advisors
Courtesy of Paragon Real Estate Advisors
Source: NWMLS, MLS#: 2534478
Listing data deemed reliable but not guaranteed. Based on information submitted to the MLS GRID as of 07/01/2026, 17:00:53 PST. 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. Provided by NWMLS as distributed by MLS Grid.
IDX information is provided exclusively for consumers' personal, noncommercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID.
Any use or search of data on this website, other than by a consumer looking to purchase real estate, is prohibited.
Listed by Ben Douglas, Paragon Real Estate Advisors
$1,100,000
Active4526 S Henderson Street , Seattle, WA 98118
0.13
Lot Acres
1978
Year Built
0
Days on Market
0 car
Garage
About This Property
The property is positioned just south of Columbia City and within the broader Rainier Valley submarket, served by the Sound Transit Link light rail and direct bus access to downtown Seattle. The offering is an operational value-add opportunity. The asset has been updated over the years and does not require a large capital investment to perform. Current scheduled rents sit below market and the property does not currently bill back utilities to tenants. A new ownership group can grow income through natural lease turnover and the implementation of a utility recapture program, lifting NOI from $58,979 to $73,386 without renovation expense. The Henderson 7-Unit is priced at $1,100,000, or $157,143 per unit and $252 per rentable square foot, reflecting a 6.0% current cap rate and a 7.4% market cap rate. The asset offers an investor a meaningful cap rate spread, durable in-place income on a 1978 wood-frame building that has been fully updated over the last five years.
Property Details
Features
Exterior
Heating
Cooling
Flooring
Agent Information
Schedule a Showing
Pick a day and time, and Austin will follow up to confirm.
By continuing, you consent to be contacted by Welcome to Whatcom and John L. Scott - Bellingham about this showing via call, text, or email.
Listed by: Ben Douglas, Paragon Real Estate Advisors
Courtesy of Paragon Real Estate Advisors
Source: NWMLS, MLS#: 2534478
Listing data deemed reliable but not guaranteed. Based on information submitted to the MLS GRID as of 07/01/2026, 17:00:53 PST. 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. Provided by NWMLS as distributed by MLS Grid.
IDX information is provided exclusively for consumers' personal, noncommercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID.
Any use or search of data on this website, other than by a consumer looking to purchase real estate, is prohibited.