Property Details

4803 S Henderson St

Seattle, WA 98118

$5,800,000

Available

CBA# 715496 courtesy of CBA Listing firm: Paragon Real Estate Advisors

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Commercial

Property Type

30,891

Bldg Sq Ft

Units

4.00%

Cap Rate

1962

Year Built

Property Overview

The property presents a compelling opportunity for investors seeking stable in-place income, value-add upside, and long-term ownership in a high demand and supply-constrained rental corridor. Henderson Arms Apartments is comprised of a desirable mix of 33-1bed/1bath and 6-2bed/1bth units. The units consist of a blend of updated and classic finishes, offering immediate rental appeal with clear upside through strategic renovations. Building features include double-pane windows, secured entry, private balconies, ample storage and common-area laundry facilities. The property also presents the potential for additional unit development with a largely unutilized full height basement, providing an attractive path to increase density and future income. Off-street parking and a well-maintained residential setting further enhance tenant appeal and retention. Situated in a strong Seattle rental market, Henderson Arms benefits from convenient access to major transit routes, neighborhood retail, parks, and employment centers throughout Downtown Seattle, Columbia City, and the broader I-5 corridor. The surrounding area continues to experience steady renter demand driven by affordability constraints and proximity to regional job hubs. For investors, Henderson Arms Apartments offers a rare combination of stable cash flow, operational upside, and long-term appreciation potential in one of Seattle’s most resilient multifamily markets.