4803 S Henderson Street, Seattle, WA 98118, Seattle, 98118 - 0 bed, 0 bath
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Seller Financing available! The Henderson Arms Apartments, a 39 unit value add opportunity in Seattle’s Rainier Beach neighborhood. The property features 33 one bedroom and 6 two bedroom units with a mix of updated and classic interiors, providing strong in place income and additional upside through renovations. Amenities include private balconies, secured entry, off street parking, common laundry, and ample storage. A largely unutilized full height basement also offers potential for additional units and future income. The property is conveniently located near light rail, major transit routes, neighborhood amenities, and employment centers throughout Seattle.
Property is moderate renovation needed.
Built in 1962, this 39-unit property is a 'value add' opportunity featuring a mix of updated and 'classic' (dated) interiors. While functional and generating income, the 60+ year age and presence of original finishes indicate a need for cosmetic updates to kitchens and baths and likely system modernizations.
The property offers significant upside through interior renovations and the conversion of a large, unutilized full-height basement into additional rental units.
The availability of seller financing provides a strategic advantage for investors, potentially offering more favorable terms than traditional lending in the current market.
Situated near the light rail and major transit corridors in Rainier Beach, the property is well-positioned to attract commuters and maintain high occupancy.
Built in 1962, the building features 'classic' interiors and aging systems that will likely require immediate capital expenditure to modernize and remain competitive.
Several assigned public schools, including the local high school, carry low ratings (2/10), which may impact the property's appeal to families and long-term tenant stability.
No exterior & parking available.
Grades PK-5 • 0.2 mi
Grades K-5 • 0.8 mi
Grades PK-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 25,116 | 5,554.5 |
| Lot Size | 33,000 | 10,915.5 |
| Price | $5.80M | $2.88M |
| Price per sq ft | $231 | $491 |
| Built year | 1962 | 1961 |
| HOA | $0 | $0 |
| Days on market | 82 | 124 |
Aug 3, 2026
$5,800,000
Initial Listing