Newly delivered 84-unit transit-oriented community in Fremont
4200 Fremont Avenue North · Seattle · King County, WA 98103
Asking price
$28,900,000
Building
72,000 sqft
Lot
0.45 ac
Cap rate
4.25%
The pitch
Section 01 / 03Investment highlights
- Built 2022, lease-up complete
- Ground-floor retail income
- RapidRide transit at the door
- Seismically designed to current code
Executive summary
A 2022-vintage, 84-unit mid-rise in Fremont with ground-floor retail and structured parking, leased up to stabilization. Walkable to tech employment and steps from the RapidRide line — a core-plus hold with new-construction durability and no near-term capex.
The asset
Section 02 / 03Pricing & Size
- Building Size
- 72,000 sqft
- Cap Rate
- 4.25 %
- Net Operating Income
- 1,228,250 $/yr
- Building Class
- Class A
Building
- Construction Type
- Wood Frame
- Condition
- New
- Stories
- 5
- Parking Spaces
- 70
- Parking Ratio
- 0.83 per 1k sqft
Utilities
- Water
- Municipal
- Sewer
- Municipal
Multifamily Features
- Number of Units
- 84
- Occupancy
- 96 %
- Average Rent
- 2,280 $/mo
- Unit Mix
- 40 studio / 32 × 1BR / 12 × 2BR
- Laundry
- In-unit
Location & Zoning
- Zoning
- R-M
- FEMA Flood Zone
- X
- Opportunity Zone
- No
Location & area
Section 03 / 03Location
47.65800, -122.35000Area & market data
Third-party sourcesNeighborhood Demographics
- Median Household Income
- $105,391
- Median Age
- 36 yrs
- Population
- 737,015 people
- Households
- 349,810
Location Context
Walk Score
74 / 100
Transit Score
60 / 100
Risk Assessment
- Seismic Zone
- 3
- Seismic Risk Category
- High
- Peak Ground Acceleration
- 0.5 g
- Seismic Design Category
- D
Market Context
- Median Sale Price (5mi)
- $7,500,000
- Median Lease Rate (5mi)
- 38 $/sqft/yr