711 21st Avenue, Seattle, WA 98122
- $1,930,000
- 6,036
- SqFt
Listing Broker: Westlake Associates, Inc.; Reid Jones; ; Selling Office: RSVP Brokers ERA.
- Sold Price
- $1,930,000
- List Price
- $1,995,000
- Status
- SOLD
- MLS#
- 2417426
- Closing Date
- Mar 06, 2026
- Days on Market
- 117
- Style
- 55 - 5-9 Units
- Finished SqFt
- 6,036
- Area Total SqFt
- 6036
- Annual Tax Ammount
- 19368
- Lot Size (sq ft)
- 7,200
- Sewer
- Sewer Connected
Property Description
Rare Central District 6-Unit w/ Upside + LR2 Rezone Potential Exciting opportunity to own a well-located 6-unit in one of Seattle’s most dynamic neighborhoods. Sits on a 7,200 SF lot with proposed LR2 zoning, offering solid in-place income plus redevelopment potential. Mix of 2-, 3-, and rare 4-bedroom layouts. Major 2018 updates include rebuilt units, PEX plumbing, new electrical panels, vinyl siding/windows, and torchdown roof. Boost income with cosmetic upgrades, RUBS, and parking fees, pro forma cap rate of 8.1%+. Shared outdoor patio and surface parking add tenant appeal. Blocks to future light rail, Seattle U, and Swedish Cherry Hill. Professionally managed and maintained, a rare blend of income, location, and future flexibility.
Additional Information
- List Date
- 2025-11-09 00:00:00
- Community
- Central Area
- Net Operating Income
- $115,664
- Gross Adjusted Income
- $175,571
- Gross Scheduled Income
- $184,631
- Total Monthly Income
- $15,386
- Insurance Expenses
- $4,294
- Water/Sewer/Garbage Expenses
- $13,646
- Gross Rent Multiplier
- 11.01
- Total Expenses
- $59,907
- Cap Rate
- 5.8
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 711
- Potential Terms
- Cash, Conventional
- Year Built
- 1900
- Roof
- Torch Down
- Site Features
- Fenced-Partially
- Other Expenses
- 22599
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $15,386
- Gross Scheduled Income
- $184,631
- Vacancy Rate
- 5
- Gross Adjusted Income
- $175,571
- Tax Year
- 2025
- Insurance Expense
- $4,294
- W/S/G Expenses
- $13,646
- Total Expenses
- $59,907
- Net Operating Income
- $115,664
- Gross Rent Multiplier
- 11.01
- Cap Rate
- 5.8
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.