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Based on information submitted to the MLS GRID as of September 4, 2026 at 08:13am (date and time MLS GRID Data was obtained). 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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The property is positioned just south of Columbia City and within the broader Rainier Valley submarket, served by the Sound Transit Link light rail and direct bus access to downtown Seattle. The offering is an operational value-add opportunity. The asset has been updated over the years and does not require a large capital investment to perform. Current scheduled rents sit below market and the property does not currently bill back utilities to tenants. A new ownership group can grow income through natural lease turnover and the implementation of a utility recapture program, lifting NOI from $58,979 to $73,386 without renovation expense. The Henderson 7-Unit is priced at $1,100,000, or $157,143 per unit and $252 per rentable square foot, reflecting a 6.0% current cap rate and a 7.4% market cap rate. The asset offers an investor a meaningful cap rate spread, durable in-place income on a 1978 wood-frame building that has been fully updated over the last five years.
Listed by Ben Douglas • Paragon Real Estate Advisors
Listing updated: September 4, 2026 at 08:13am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2534478
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Seattle is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Many homes get multiple offers, some with waived contingencies.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 17 days.
$740,000 Sold
2 days ago
4 bd•3.5 ba•~1,930 sq ft•Single Family
9240 39th Avenue S, Seattle, WA 98118
0%
Over list
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Days on market
0.4 mi
Distance
$64,000 Sold
2 weeks ago
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9050 Seward Park Avenue S #125, Seattle, WA 98118
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Under list
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Days on market
0.6 mi
Distance
$690,000 Sold
4 weeks ago
4 bd•2 ba•~1,820 sq ft•Single Family
3501 S Webster St, Seattle, WA 98118
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Under list
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Distance
$485,000 Sold
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Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
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Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Sep 2026
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