840 W Nickerson Street, Seattle, WA 98119

$2,795,000
6,921
SqFt

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Listing courtesy of Pacific Crest.

List Price
$2,795,000
Status
ACTIVE
MLS#
2508089
Price Change
▼ $205,000 1781896482
Days on Market
95
Style
56 - 10+ Units
Building Condition
Good
Finished SqFt
6,921
Area Total SqFt
6921
Annual Tax Ammount
24512
Lot Size (sq ft)
6,570
Sewer
Sewer Connected

Property Description

Marine Vista -- a premier 11-unit apartment community located at 840 W Nickerson St, Seattle, WA 98119. Situated in the highly sought-after North Queen Anne submarket, Marine Vista offers an exceptional location overlooking the Lake Washington Ship Canal, providing residents with a unique blend of maritime charm and urban convenience. This offering presents a rare opportunity to acquire a boutique asset in one of Seattle’s most resilient and supply-constrained neighborhoods. Marine Vista is ideally positioned within walking distance to Seattle Pacific University and the vibrant Fremont tech hub, ensuring a consistent and high-quality tenant base. The investment provides a clear path for a strategic value-add program. A new investor will have the ability to implement targeted interior renovations and modern amenity upgrades to capture significant rental upside, bringing the property in line with top-of-market competitors. With its irreplaceable location and strong fundamentals, Marine Vista is poised to deliver robust long-term appreciation and enhanced cash flow for a sophisticated investor.

Additional Information

List Date
2026-04-22 14:21:13
Community
Queen Anne
Net Operating Income
$156,113
Gross Adjusted Income
$248,670
Gross Scheduled Income
$260,460
Total Monthly Income
$21,705
Insurance Expenses
$6,264
Water/Sewer/Garbage Expenses
$17,860
Gross Rent Multiplier
11.52
Total Expenses
$92,557
Cap Rate
5.2
Vacancy Rate
5
Total Number of Units
11
Unit Name
840
Potential Terms
Cash, Conventional
Year Built
1960
View
Canal
Roof
Flat, Torch Down
Site Features
Cable TV, Deck, High Speed Internet
Electric Expenses
1074
Other Expenses
42847
Energy Source
Electric
School District
Seattle
Elementary School
Frantz Coe Elementary
Middle School
Mc Clure Mid
High School
Lincoln High
Total Monthly Income
$21,705
Gross Scheduled Income
$260,460
Vacancy Rate
5
Gross Adjusted Income
$248,670
Tax Year
2025
Insurance Expense
$6,264
W/S/G Expenses
$17,860
Total Expenses
$92,557
Net Operating Income
$156,113
Gross Rent Multiplier
11.52
Cap Rate
5.2
Based on information submitted to the MLS GRID as of . 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.
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