Property Details
741 Federal Avenue E
Seattle, WA 98102
$3,250,000
Active
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Property Overview
David Apartments is a rare Capitol Hill investment opportunity ideally located on Federal Avenue East, just moments from Volunteer Park, the Broadway retail corridor, and Capitol Hill Light Rail. Built in 1927, the property showcases timeless brick architecture, original character, and high ceilings that set it apart from commodity inventory. With a Walk Score of 94, the location supports strong and consistent tenant demand. In-place rents are well below nearby renovated comps, presenting a clear value-add opportunity through strategic interior upgrades. Located in one of Seattle’s most desirable, high-barrier-to-entry neighborhoods, David Apartments offers investors the chance to capture meaningful upside in both income and long-term appreciation.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Capitol Hill
Listed
Apr 2, 2026
Structure Type
Multi Family
Parcel Number
266300053003
Tax & HOA
Annual Property Tax
$23,258 (2026)
Est. Monthly Tax
$1,938/mo
Financial Summary
Cap Rate
4.50%
Net Operating Income
$146,162
Gross Scheduled Income
$216,576
Gross Rent Multiplier
22.00
Total Expenses
$84,415
Vacancy Rate
3.0%
Building & Use
Building Sq Ft
7,165
Leasable Area
7,165 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
7,166 sqft
Year Built
1927
Exterior & Lot
Lot Size
0.16 sqft
Year Built
1927
Garage
6 spaces
Exterior Materials
Brick
Sewer
Sewer Connected
Lot Features
Paved, Sidewalk
Exterior Features
Brick
Community & Access
Directions
741 Federal Ave E Seattle, WA
Location
City
Seattle
County
King
Coordinates
47.62655, -122.31947
Additional Information
Tax Year
2026
Annual Taxes
$23,258
Possession
Array
Based on information submitted to the MLS GRID as of June 1, 2026 11:08 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.
