Property Details
315 12th Avenue E
Seattle, WA 98102
$1,995,000
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Property Overview
Turnkey North Capitol Hill Investment. The Rhodes Apartment Building is a rare opportunity to own a timeless, cash-flowing asset in the heart of Vibrant Capitol Hill. This well-maintained property features 6 well-appointed spacious corner units offering views of the Space Needle, Downtown Seattle & Olympic Mountains with beautiful original brickwork that adds to the building’s classic charm & curb appeal. 6 large 1-bed, 1-bath + den/NC bedroom, generous living/dining areas, full kitchens & hardwood floors throughout. Secure entry with lobby. Common laundry area. All units are above grade. Driveway to the building’s 12 car parking lot for tenants. The daylight basement may also offer the opportunity to add 2 additional 1-bedroom units for additional income. Situated on a 5,994 sqft lot with Mid-Rise zoning (MR-M1), this property also presents exciting future development potential. This prime location is minutes to Downtown Seattle, Tech Companies, Amazon, Microsoft, Google, Apple, Meta, Adobe, Oracle & more. Residents enjoy easy access to restaurants, shopping, Whole Foods, Costco, Pike Place Market, hospitals, parks, major bus lines, I-5, I-90, and Hwy 99. Walk Score 98 & 3 blocks to Light Rail. A character-rich asset with upside in one of Seattle’s strongest rental markets. Possible Seller Financing.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
North Capitol Hill
Listed
Apr 9, 2026
Financial Summary
Cap Rate
5.40%
Net Operating Income
$107,276
Gross Scheduled Income
$150,084
Gross Rent Multiplier
12.90
Total Expenses
$42,808
Building & Use
Building Sq Ft
4,587
Leasable Area
4,587 sqft
Total Units
6
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
5,994 sqft
Year Built
1928
Exterior & Lot
Lot Size
0.14 sqft
Year Built
1928
Exterior Materials
Brick, Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Brick, Wood
Location
City
Seattle
County
King
Coordinates
47.62167, -122.31710
Additional Information
Tax Year
2026
Annual Taxes
$25,179
Possession
Array
Based on information submitted to the MLS GRID as of May 4, 2026 4:00 PM. 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, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
