741 Federal Avenue E, Seattle, WA 98102
- $3,250,000
- 7,165
- SqFt
Listing courtesy of Kidder Mathews.
- List Price
- $3,250,000
- Status
- ACTIVE
- MLS#
- 2501955
- Days on Market
- 115
- Style
- 56 - 10+ Units
- Building Condition
- Very Good
- Finished SqFt
- 7,165
- Lot Size (sq ft)
- 7,165
Property Description
David Apartments is a rare Capitol Hill investment opportunity ideally located on Federal Avenue East, just moments from Volunteer Park, the Broadway retail corridor, and Capitol Hill Light Rail. Built in 1927, the property showcases timeless brick architecture, original character, and high ceilings that set it apart from commodity inventory. With a Walk Score of 94, the location supports strong and consistent tenant demand. In-place rents are well below nearby renovated comps, presenting a clear value-add opportunity through strategic interior upgrades. Located in one of Seattle’s most desirable, high-barrier-to-entry neighborhoods, David Apartments offers investors the chance to capture meaningful upside in both income and long-term appreciation.
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Additional Information
- List Date
- 2026-04-02 21:58:13
- Community
- Capitol Hill
- Potential Terms
- Cash, Conventional
- Year Built
- 1927
- View
- City
- Roof
- Flat
- School District
- Seattle
- Total Monthly Income
- $18,051
- Gross Scheduled Income
- $216,576
- Vacancy Rate
- 3
- Gross Adjusted Income
- $230,577
- Tax Year
- 2026
- Insurance Expense
- $8,800
- W/S/G Expenses
- $6,536
- Total Expenses
- $84,415
- Net Operating Income
- $146,162
- Gross Rent Multiplier
- 22
- Cap Rate
- 4.5
Mortgage Calculator
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.