840 W Nickerson Street, Seattle, WA 98119
- $2,795,000
- 6,921
- SqFt
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.
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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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.