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Listed by:Paragon Real Estate Advisors • Nick Hemming
$5,800,000
Est. payment /mo
45 Beds
39 Baths
25,104 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 25,104 sqft
Price per Sqft $231
Subdivision Rainier Beach
MLS Listing ID 2563789
Style 56 - 10+ Units
Bedrooms 45
Year Built 1962
Annual Tax Amount $89,417
Lot Size 0.758 Acres
Property Sub-Type Multi Family
Property Description
Henderson Arms Apartments, a value-add multifamily property located in the Rainier Beach neighborhood of Seattle's Rainier Valley submarket. The property presents a compelling opportunity for investors seeking stable in-place income, value-add upside, and long-term ownership in a high demand and supply-constrained rental corridor. Henderson Arms Apartments is comprised of a desirable mix of 33-1bed/1bath and 6-2bed/1bth units. The units consist of a blend of updated and classic finishes, offering immediate rental appeal with clear upside through strategic renovations. Building features include double-pane windows, secured entry, private balconies, ample storage and common-area laundry facilities. The property also presents the potential for additional unit development with a largely unutilized full height basement, providing an attractive path to increase density and future income. Off-street parking and a well-maintained residential setting further enhance tenant appeal and retention. Situated in a strong Seattle rental market, Henderson Arms benefits from convenient access to major transit routes, neighborhood retail, parks, and employment centers throughout Downtown Seattle, Columbia City, and the broader I-5 corridor. The surrounding area continues to experience steady renter demand driven by affordability constraints and proximity to regional job hubs
Location
State WA
County King
Area 380 - Southeast Seattle
Interior
Flooring Laminate
Fireplace false
Exterior
Exterior Feature Brick
View Y/N No
Roof Type Flat
Building
Sewer Available
Water Public
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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