About Henderson Manor
Henderson Manor Apartments is a 16 unit building (one non-conforming) in the Highland Park neighborhood of West Seattle. The in-place rents average $1.52 per square foot, whereas market rents are over $2.00 per square foot. The seller is not collecting rent for utilities, parking, or storage units; providing immediate upside. Additionally, a new owner could add bedrooms to current units with a simple wall, and add a new unit by converting the large carport and storage area. All of this will add extreme value to the building.
The neighborhood has vastly improved in the past few years with many new townhomes, apartment buildings and retail establishments within walking distance, including a new 28 unit apartment building and 6 unit townhouse project next door. Other apartment owners on the same street are remodeling as well, which is adding curb appeal and value to the neighborhood. The location being in a quiet area, yet with main roads providing easy access to major highways and job centers, make this location very desirable. The walk score is 80, considered “very walkable”, and transit score of 56, considered “Good Transit”.
Price per Unit
Price per NRSF
Current Cap Rate
Market Cap Rate
9001 17th Ave SW | Seattle, WA
One - 16 unit building
6 covered / 9 open
16 storage lockers
Flat - 2 y/o with transferable 30 yr warranty
Double pane vinyl
Copper / galvanized
Average Unit Size
Washer / Dryer
Current rents are 25-35%
Vastly improving area with many new developments and retail
PATHWAY OF PROGRESS
Ability to add bedrooms to existing units and construct a 17th unit
Westwood Village Shopping Center and retail just blocks away
About the Neighborhood
Almost one-fifth of Seattle’s total population resides in West Seattle. The area is home to some of the city’s most beautiful parks and a rich cultural heritage that includes live theater, five-star dining and a thriving arts community. It is an urban gem in a naturally beautiful peninsula setting. West Seattle has more of a small-town feel and has seven business districts that provide a wide array of goods and services. Residential neighborhoods are varied and distinctive and create the perfect blend in West Seattle.
The most popular area is called the Junction. The Junction is home to boutique shops, dining, live theatre, banking, professional and medical services, coffee houses, groceries and a farmers market extending for blocks and blocks in all directions. There’s Alki, the sandy beach strip on the tip of the peninsula. West Seattle’s Alki community is home to the west coast’s first community wide “Urban Wildlife Habitat” setting a new standard in Puget Sound. Other major neighborhoods in West Seattle include Admiral, Duwamish Industrial Area, Fauntleroy, Morgan Junction, Westwood Village, and White Center.
West Seattle’s proximity to downtown Seattle makes it a convenient area and the water and surrounding islands make it an ideal spot for weekend activities and relaxation. Despite its size, it offers that friendly small-town feel with a mix of residential areas and commercial streets lined with shops and restaurants.
Based on the median household income of $77,645, the typical resident can afford up to $2,157 in monthly rent. Software engineers earn on average $113,484, yielding up to $3,152 in monthly rent.
Colliers International WA LLC is the exclusive Listing Brokerage for this Offering.
Tim McKay, Dan Chhan, and Sam Wayne exclusively represent the Seller in the sale of Henderson Manor in Seattle, WA.
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601 Union St., Ste. 5300
Seattle, WA 98101