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.

Listing data courtesy of NWMLS as provided by MLS Grid as of July 2, 2026 8:32 AM UTC . All data is obtained from various sources and has not been, and will not be, verified by broker or NWMLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Supplied Open House Information is subject to change without notice. Many homes contain recording devices, and buyers should be aware they may be recorded during a showing. Listing data shown with the three tree icon are provided courtesy of NWMLS. Some IDX listings have been excluded from this website. 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. The data is deemed reliable but is not guaranteed.

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Property Details of 4526 S Henderson Street

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