4526 S Henderson Street, Seattle, WA 98118 (MLS # 2534478)

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Listing provided courtesy of Northwest MLS; Paragon Real Estate Advisors

PRICE $1,100,000
BEDS 0
BATHS 0
HOME SIZE 4,358 sqft
LOT SIZE 5,716 sqft
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The property is positioned just south of Columbia City and within the broader Rainier Valley submarket, served by the Sound Transit Link light rail and direct bus access to downtown Seattle. The offering is an operational value-add opportunity. The asset has been updated over the years and does not require a large capital investment to perform. Current scheduled rents sit below market and the property does not currently bill back utilities to tenants. A new ownership group can grow income through natural lease turnover and the implementation of a utility recapture program, lifting NOI from $58,979 to $73,386 without renovation expense. The Henderson 7-Unit is priced at $1,100,000, or $157,143 per unit and $252 per rentable square foot, reflecting a 6.0% current cap rate and a 7.4% market cap rate. The asset offers an investor a meaningful cap rate spread, durable in-place income on a 1978 wood-frame building that has been fully updated over the last five years.

LAST UPDATED 7/1/2026 TRACT Dunlap
YEAR BUILT 1978 COMMUNITY Dunlap
COUNTY King STATUS Active
PROPERTY TYPE(S) Multi Family


ADDITIONAL DETAILS
AIR None
AREA 385 - SODO/Beacon Hill
CONSTRUCTION Wood Siding
HEAT Baseboard, Electric
LOT 5715 sq ft
MLS STATUS Active
STORIES 3
STYLE 55 - 5-9 Units
SUBDIVISION Dunlap
TAXES 15770
UTILITIES Sewer Connected
WATER Public
ZONING Multi-Family

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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 7/2/26 12:27 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.

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