512 5th Avenue West

Seattle, WA 98119

$5,995,000
Price
26
Beds
20
Baths
12,900 Sq. Ft.
$465 / Sq. Ft.
12,900
Sq. Ft.
$465
per Sq. Ft.
a view of a city that has tall buildings
a front view of a building with entryway
an aerial view of a city with lots of residential buildings
a view of a house with backyard sitting area and garden
front view of a house with a yard
a view of balcony with furniture
an empty room with wooden floor and windows
a kitchen with a sink stove and refrigerator
a kitchen that has a sink and a stove in it
a bathroom with a sink toilet and shower
a view of a kitchen with wooden floor and a ceiling fan
Listing provided courtesy of Lee & Associates Commercial RE

Description

The Standard, 20-units located in the Uptown Queen Anne. Attractively situated near the Seattle Center & the waterfront. The unit mix consist of 16 1-bed, two 2-bed units & two 3-bed units. Opportunities for lift with the addition of in-unit w/d & converting the laundry rooms into units also a 12,020sf MR (M) zoned lot, initial studies suggest 75+ unit development potential (buyer to verify). The acquisition of the Standard not only secures a prime piece of Seattle real estate but also offers potential...The Standard, 20-units located in the Uptown Queen Anne. Attractively situated near the Seattle Center & the waterfront. The unit mix consist of 16 1-bed, two 2-bed units & two 3-bed units. Opportunities for lift with the addition of in-unit w/d & converting the laundry rooms into units also a 12,020sf MR (M) zoned lot, initial studies suggest 75+ unit development potential (buyer to verify). The acquisition of the Standard not only secures a prime piece of Seattle real estate but also offers potential for future development & appreciation. With its strategic location, rental upside & multiple exit strategies, the Standard is an exceptional opportunity for investors seeking a blend of immediate rental income & long-term opportunities.
  1. Listed by Daniel Lim • Lee & Associates Commercial RE
  2. Listed by Candice Chevaillier • Lee & Associates Commercial RE

Property Details for 512 5th Avenue West

Community Name
Queen Anne
School District
Seattle
Number of Assigned Spaces
10
Total Covered Parking
0
Offers Review Date
10-16-2024
Entry Date
09-11-2024
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 11/13/2024 12:12 PM

Property Details for 512 5th Avenue West

StatusActive
MLS #2289839
Days on Market98
Cumulative Days on Market98
Taxes$53,874 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1957
Lot Size0.28 AC / 12,020 SF
CountyKing County

Building Information for 512 5th Avenue West

Stories2Residences20Year Built1957Building Size-Lot Size0.28 AC / 12,020 SF

Property Information for 512 5th Avenue West

Summary
Location and General Information
  • Style: 56 - 10+ Units
  • Area: 700 - Queen Anne/Magnolia
  • Directions: Heading west on Mercer turn right on 5th Ave W building is on the left.
  • Leased Items: Washer/Dryer
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2024
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 10.0
  • Open Parking: Yes
Virtual Tour
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
  • Bedrooms Possible: 0
Interior Features
  • Fireplaces Total: 0
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard
Exterior Features
  • Exterior: Brick
  • Roof: Flat
Property
Utilities
  • Water/Sewer/Garbage: 29469
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • MLS Square Footage Source: County
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 11
Lot Information
  • Lot Size Source: County
  • Parcel Number Free Text: 1990200150
  • Calculated Square Footage: 12900
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 12900.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 10
  • Number of Stories in Building: 2
  • Vacancy Rate: 5
  • Number Of Units Total: 20
  • Units Below Grade: false
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 164383
  • Gross Adjusted Income: 466551
  • Gross Rent Multiplier: 12.5
  • Gross Scheduled Income: $488,079
  • Insurance Expense: $8,500
  • Net Operating Income: $302,168
  • Other Expenses: $72,540
  • Total Monthly Income: 38119
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: Two 3-Beds
  • Washer/Dryer Unit 1: false
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: false
  • Square Feet Unit 1: 900
  • Rent Unit 1: $2,563.00
  • Bedrooms Unit 1: 3
  • Fireplaces Unit 1: 0
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: Two 2-Beds
  • Washer/Dryer Unit 2: false
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: false
  • Square Feet Unit 2: 750
  • Rent Unit 2: $2,235.00
  • Bedrooms Unit 2: 2
  • Fireplaces Unit 2: 0
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 16 1-Beds
  • Washer/Dryer Unit 3: false
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: false
  • Square Feet Unit 3: 600
  • Rent Unit 3: $1,645.00
  • Bedrooms Unit 3: 1
  • Fireplaces Unit 3: 0
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: .
  • Bedrooms Unit 4: 1
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: .
  • Bedrooms Unit 5: 1
  • Bathrooms Unit 5: 1
Unit 6
  • Name Unit 6: .
  • Bedrooms Unit 6: 1
  • Bathrooms Unit 6: 1
Unit 7
  • Name Unit 7: .
  • Bedrooms Unit 7: 1
  • Bathrooms Unit 7: 1
Unit 8
  • Name Unit 8: .
  • Bedrooms Unit 8: 1
  • Bathrooms Unit 8: 1
Unit 9
  • Name Unit 9: .
  • Bedrooms Unit 9: 1
  • Bathrooms Unit 9: 1
Unit 10
  • Name Unit 10: .
  • Bedrooms Unit 10: 1
  • Bathrooms Unit 10: 1
Unit 11
  • Name Unit 11: .
  • Bedrooms Unit 11: 1
  • Bathrooms Unit 11: 1
Unit 12
  • Name Unit 12: .
  • Bedrooms Unit 12: 1
  • Bathrooms Unit 12: 1
Unit 13
  • Name Unit 13: .
  • Bedrooms Unit 13: 1
  • Bathrooms Unit 13: 1
Unit 14
  • Name Unit 14: .
  • Bedrooms Unit 14: 1
  • Bathrooms Unit 14: 1
Unit 15
  • Name Unit 15: .
  • Bedrooms Unit 15: 1
  • Bathrooms Unit 15: 1
Unit 16
  • Name Unit 16: .
  • Bedrooms Unit 16: 1
  • Bathrooms Unit 16: 1
Unit 17
  • Name Unit 17: .
  • Bedrooms Unit 17: 1
  • Bathrooms Unit 17: 1
Unit 18
  • Name Unit 18: .
  • Bedrooms Unit 18: 1
  • Bathrooms Unit 18: 1
Unit 19
  • Name Unit 19: .
  • Bedrooms Unit 19: 3
  • Bathrooms Unit 19: 1
Unit 20
  • Name Unit 20: .
  • Bedrooms Unit 20: 2
  • Bathrooms Unit 20: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 12900.0
  • Leasable Area Units: Square Feet

Property History for 512 5th Avenue West

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 512 5th Avenue West

Taxable ValueLand$5,100,000Additions$1,300,000Total$6,400,000
Tax Record2022$53,874 ($4,489 / month)
Home Facts
Total Finished SqFt12,280 SqFtAbove Ground SqFt12,280 SqFtStories2Lot Size12,000 SqFtStyleMulti-Family Dwelling (2-4)Year Built1957Year Renovated1988ZoningMR (M)CountyKINGAPN199020-0150

Schools near 512 5th Avenue West

This home is within Seattle Public Schools.
Rating
School
Type
Grades
Distance
Hay Elementary School
Public - K to 5
Mcclure Middle School
Public - 6 to 8
Lincoln High School
Public - 9 to 12
The Center School
Public - 9 to 12
Rating
School
Distance
Hay Elementary School
PublicK to 5

Mcclure Middle School
Public6 to 8

Lincoln High School
Public9 to 12

The Center School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 512 5th Avenue West, Seattle, WA 98119

512 5th Avenue West is a multi-family home for sale in Seattle, WA 98119. This property was listed for sale on September 11, 2024 by Lee & Associates Commercial RE, it's currently listed at $5,995,000. It has been on the market for a total of 98 days and was last sold on July 23, 2018. This listing's school district is Seattle Public Schools. Nearby schools include Hay Elementary School, Mcclure Middle School and Lincoln High School. 512 5th Avenue West is a 26-bed, 20-bath, 12,900 sqft multi-family home built in 1957.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lee & Associates Commercial RE

Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.