New ListingThe John Henry Apartments presents an exceptional investment opportunity in Seattle's highly desirable Laurelhurst neighborhood. Located at 4001 NE 50th Street, this well-maintained, 14-unit apartment community offers convenient access to Seattle Children's Hospital, University Village, and the University of Washington. Built in 1961, the property features a desirable unit mix of nine one-bedroom and five two-bedroom apartments, averaging approximately 714 square feet. Property amenities include 14 off-street parking stalls, 14 individual tenant storage units, shared laundry facilities, and private patios in select units. Recent improvements include a new roof installed in 2019, double-pane vinyl windows, and updated LVP flooring in most units. Spacious floor plans and thoughtful updates enhance the property's appeal. Offered at $3,300,000, or approximately $236,000 per unit, The John Henry provides investors with strong in-place cash flow at a 5.9% cap rate, along with additional rental upside. Available for the first time in over 20 years, this is a rare opportunity to acquire a well-located multifamily asset in one of Seattle's premier residential neighborhoods.
| MLS # | 2595724 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1961 |
| Days On Site | 2 |
| Listing Provided By | Kidder Mathews | Max Frame |
| SQ Feet | 9,999 |
|---|---|
| Story(s) | 2 |
| Units | 2 |
| Acreage | 0.26 |
| Property | 34874 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98105 |
| Area | 390 Central Seattle |
| Community Name | Montlake |
| Listing VS Median (in Montlake) | |
Price: $3,300,000 low | high Med: $699,900 sqft: 9,999 low | high Med: 2,088 $ / sqft: $330 low | high Med: $335 On site: 2 low | high Med: 17 | |
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98105 |
| Area | 390 Central Seattle |
| Community Name | Montlake |
| Listing VS Median (in Montlake) | |
Price: $3,300,000 low | high Med: $699,900 sqft: 9,999 low | high Med: 2,088 $ / sqft: $330 low | high Med: $335 On site: 2 low | high Med: 17 | |