Property Details
4803 S Henderson Street
Seattle, WA 98118
$5,800,000
Active
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Property Overview
Henderson Arms Apartments, a value-add multifamily property located in the Rainier Beach neighborhood of Seattle’s Rainier Valley submarket. 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
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Rainier Beach
Listed
Aug 3, 2026
Structure Type
Multi Family
Parcel Number
2123700355
Tax & HOA
Annual Property Tax
$89,417 (2026)
Est. Monthly Tax
$7,451/mo
Financial Summary
Cap Rate
4.52%
Net Operating Income
$262,166
Gross Scheduled Income
$598,200
Gross Rent Multiplier
9.69
Total Expenses
$312,964
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
25,104
Leasable Area
25,104 sqft
Total Units
39
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
33,001 sqft
Year Built
1962
Exterior & Lot
Lot Size
0.76 sqft
Year Built
1962
Exterior Materials
Brick
Sewer
Available
Water Source
Public
Exterior Features
Brick
Community & Access
Directions
Start on I-5 S towards Portland. Take exit 158. Turn left onto S Boeing Access Rd. Turn left onto MLK Jr Way S. Turn right onto S Henderson St. Destination will be on the right.
Location
City
Seattle
County
King
Coordinates
47.52278, -122.27258
Additional Information
Tax Year
2026
Annual Taxes
$89,417
Possession
Array
Based on information submitted to the MLS GRID as of August 5, 2026 12:15 AM. 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.
