The Winarden 4212 Phinney Ave 6 Unit Apartment Building $2,075,000 ($345,833/Unit) 4.20% Cap Rate Seattle, WA 98103
INVESTMENT HIGHLIGHTS
- Recent High-End Renovations - Quartz & granite countertops, stainless steel appliances, new cabinetry, and LVP floors
- Strong current rents with opportunity for 10% rental upside. Additional opportunity to implement utility bill-backs and charge for garages
- Heart of Fremont - Thriving neighborhood amenities & proximity to major employers and large tech campuses
EXECUTIVE SUMMARY
Renovated 6-Unit in heart of Fremont. This 1927 brick apartment building combines classic charm with modern updates, including quartz and granite countertops, stainless steel appliances, new cabinetry, and original hardwood floors. Arched entryways and coved ceilings enhance its character.
Situated on a 5,000 SF lot zoned LR1 (M), the property includes three garage parking spaces and a mix of one studio and five one-bedroom units (avg. 625 SF). Strong rental history with 11% upside potential through rent increases. Additional revenue opportunities with utility bill backs and charging for garage parking.
Walk Score of 88, steps from top employers, transit, shops, and parks—making this a standout, turn-key investment in a sought-after neighborhood.
Situated on a 5,000 SF lot zoned LR1 (M), the property includes three garage parking spaces and a mix of one studio and five one-bedroom units (avg. 625 SF). Strong rental history with 11% upside potential through rent increases. Additional revenue opportunities with utility bill backs and charging for garage parking.
Walk Score of 88, steps from top employers, transit, shops, and parks—making this a standout, turn-key investment in a sought-after neighborhood.
PROPERTY FACTS
| Price | $2,075,000 |
| Price Per Unit | $345,833 |
| Sale Type | Investment |
| Cap Rate | 4.20% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 4,456 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1927 |
| Parking Ratio | 0.67/1,000 SF |
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Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 812970-1030 | Improvements Assessment | $580,000 |
| Land Assessment | $1,050,000 | Total Assessment | $1,630,000 |
ZONING
| Zoning Code | LR1 (M) |
