4803 S Henderson Street, Seattle, WA 98118
- $5,800,000
- 25,104
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $5,800,000
- Status
- ACTIVE
- MLS#
- 2563789
- Days on Market
- 0
- Style
- 56 - 10+ Units
- Finished SqFt
- 25,104
- Area Total SqFt
- 25104
- Annual Tax Ammount
- 89417
- Lot Size (sq ft)
- 33,000
- Sewer
- Available
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
/u.realgeeks.media/soundmultifamily/operating-information.jpg)
Additional Information
- List Date
- 2026-08-03 18:58:11
- Community
- Rainier Beach
- Net Operating Income
- $262,166
- Gross Adjusted Income
- $567,930
- Gross Scheduled Income
- $598,200
- Total Monthly Income
- $50,450
- Insurance Expenses
- $41,038
- Water/Sewer/Garbage Expenses
- $72,144
- Gross Rent Multiplier
- 9.69
- Total Expenses
- $312,964
- Cap Rate
- 4.52
- Vacancy Rate
- 5
- Total Number of Units
- 39
- Unit Name
- 4803
- Potential Terms
- Cash, Conventional
- Year Built
- 1962
- Roof
- Flat
- Other Expenses
- 110365
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $50,450
- Gross Scheduled Income
- $598,200
- Vacancy Rate
- 5
- Gross Adjusted Income
- $567,930
- Tax Year
- 2026
- Insurance Expense
- $41,038
- W/S/G Expenses
- $72,144
- Total Expenses
- $312,964
- Net Operating Income
- $262,166
- Gross Rent Multiplier
- 9.69
- Cap Rate
- 4.52
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.