819 6th Avenue N, Seattle, WA 98109
- $1,695,000
- 4,870
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $1,695,000
- Status
- ACTIVE
- MLS#
- 2584222
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,870
- Area Total SqFt
- 4870
- Annual Tax Ammount
- 19981
- Lot Size (sq ft)
- 5,610
- Sewer
- Available
Property Description
The Iowan Apartments is a seven-unit apartment building located on the South slope of Queen Anne. The building is priced at a current 5.5% cap rate and has been extensively upgraded including a re-plumb of the building supply lines (2026), a new roof (2025), new central hot water tank (2024), double pane vinyl windows, and square D electrical panels throughout the building. The property includes seven open parking stalls accessed off the alley. The property comprises 4,870 net rentable square feet across seven units, averaging 696 square feet, with a mix of one studio, four one-bedroom units including one one-bedroom plus den, one two-bedroom, and one three-bedroom. Interior improvements completed upon natural turnover support potential monthly income of approximately $17,234, representing a 25.1% increase. The property is zoned LR3 (M) within the Uptown Urban Center, with a 2.3 FAR and a 50 foot height limit on a 5,610-square-foot lot. The existing building utilizes approximately half of the site’s maximum permitted floor area, creating meaningful future development optionality. Uptown has no residential parking minimum, providing flexibility for future redevelopment. See the Development Optionality section for additional details. Located two blocks north of Seattle Center, the property offers immediate access to Climate Pledge Arena, the Space Needle, Seattle Center Monorail, and the surrounding Uptown amenity base.
Additional Information
- List Date
- 2026-09-17 23:43:12
- Community
- Queen Anne
- Net Operating Income
- $92,453
- Gross Adjusted Income
- $155,918
- Gross Scheduled Income
- $164,124
- Total Monthly Income
- $13,677
- Insurance Expenses
- $6,640
- Water/Sewer/Garbage Expenses
- $13,968
- Gross Rent Multiplier
- 10.33
- Total Expenses
- $63,465
- Cap Rate
- 5.45
- Vacancy Rate
- 5
- Total Number of Units
- 7
- Unit Name
- 819
- Potential Terms
- Cash, Conventional
- Year Built
- 1910
- Roof
- Composition
- Other Expenses
- 22876
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $13,677
- Gross Scheduled Income
- $164,124
- Vacancy Rate
- 5
- Gross Adjusted Income
- $155,918
- Tax Year
- 2026
- Insurance Expense
- $6,640
- W/S/G Expenses
- $13,968
- Total Expenses
- $63,465
- Net Operating Income
- $92,453
- Gross Rent Multiplier
- 10.33
- Cap Rate
- 5.45
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.