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10500 51st Ave S
Seattle, WA 98178 Rainier Beach

Price Upon Request

Apartments For Sale  •  19,500 SF

Property Details

  • Property Type Apartments
  • Total Building Size 19,500 SF
  • Lot Size 0.67 AC
  • Building Class C
  • Year Built 1979
  • Zoning LR1 (M)
45 Transit Score
12 Walk Score

Highlights

Convenient South Seattle location near Interstate 5, bus and light rail service, and across the street from Kubota Garden
26-unit community with 30 off-street parking spaces, tenant storage lockers, on-site laundry, and a leasing office
Value-add opportunity - Likely to achieve an all-in 7%+ cap rate
Nearly all 2-bed units with dishwashers and many updates including dual-pane windows, newer flooring, updated cabinets, kitchens, and baths
1979 construction with copper supply plumbing
Affordably priced at $167,000 per unit and $225 per foot

Financial Summary (Proforma)

Net Operating Income: $359,081 USD (2025)
Total Expenses: $201,115 USD

Amenities

  • Dishwasher
  • Laundry Facilities
  • Heating
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Range
  • Tub/Shower
  • Patio

Public Transportation

Commuter RailDriveWalkDistance
Tukwila Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder)) 11 min - 5.7 mi
King Street (Seattle) Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder)) 14 min - 8.2 mi
AirportDriveWalkDistance
Seattle-Tacoma International 15 min - 7.3 mi
Seattle Paine Field International 45 min - 32.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 30
Type: Surface
Included in Rent: Yes