608 W Emerson Street, Seattle, WA 98119
- $2,850,000
Listing courtesy of Northmarq Multifamily, LLC. Selling Office: Northmarq Multifamily, LLC.
- Sold Price
- $2,850,000
- List Price
- $2,875,000
- Status
- SOLD
- MLS#
- 2409472
- Closing Date
- Dec 12, 2025
- Days on Market
- 33
- Style
- 56 - 10+ Units
- Annual Tax Ammount
- 21147
- Lot Size (sq ft)
- 8,800
- Sewer
- Sewer Connected
Property Description
We are pleased to present the 608 W Emerson Apartments, located along W Emerson St in North Queen Anne, walking distance from Seattle Pacific University. All units were upgraded in 2016, including updated kitchens with new finishes and fully upgraded bathrooms with modern fixtures and motion sensor fans. The property is being listed 100% vacant, providing an excellent opportunity to renovate all 10 units with modern finishes and achieve higher rents. It includes a laundry facility, balconies with views, 14 uncovered parking spaces, mature landscaping, and storage space. The asset stabilizes to a 7.42% cap on cost and a 9.42% cash on cash return at $2.875M ($287,500/unit; $376/SF).
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Additional Information
- List Date
- 2025-11-09 00:00:00
- Community
- Queen Anne
- Net Operating Income
- $186,693
- Gross Adjusted Income
- $229,710
- Gross Scheduled Income
- $241,800
- Total Monthly Income
- $22,848
- Insurance Expenses
- $8,500
- Water/Sewer/Garbage Expenses
- $17,151
- Gross Rent Multiplier
- 11.92
- Total Expenses
- $75,403
- Cap Rate
- 6.41
- Vacancy Rate
- 5
- Total Number of Units
- 10
- Unit Name
- 608
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1975
- View
- Canal
- Roof
- Torch Down
- Other Expenses
- 28605
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $22,848
- Gross Scheduled Income
- $241,800
- Vacancy Rate
- 5
- Gross Adjusted Income
- $229,710
- Tax Year
- 2025
- Insurance Expense
- $8,500
- W/S/G Expenses
- $17,151
- Total Expenses
- $75,403
- Net Operating Income
- $186,693
- Gross Rent Multiplier
- 11.92
- Cap Rate
- 6.41
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.