4526 S Henderson Street, Seattle, WA 98118

Seattle
Local realty services provided by:Better Homes and Gardens Real Estate Northwest Home Team
Listed by: ben douglas, michael urquhart
Office: paragon real estate advisors
MLS#:2534478
Source:NWMLS
4526 S Henderson Street,Seattle, WA 98118
$1,100,000
  • - Beds
  • - Baths
  • 4,358 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$1,100,000
  • Price per sq. ft.:$252.41

About this home

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.

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Home facts

  • Year built:1978
  • Listing ID #:2534478
  • Updated:July 11, 2026 at 03:29 PM

Rooms and interior

  • Flooring:Laminate
  • Living area:4,358 sq. ft.

Heating and cooling

  • Heating:Baseboard

Structure and exterior

  • Roof:Composition
  • Year built:1978
  • Building area:4,358 sq. ft.
  • Lot area:0.13 Acres
  • Construction Materials:Wood Products Exterior Finish

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$1,100,000
  • Price per sq. ft.:$252.41
  • Tax amount:$15,770 (2026)

Parking

  • Total parking spaces:7
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