Subject property
Niwa
513 1st Ave N, Seattle, WA 98109
- Built
- 2024
- Stories
- 8
- Homes
- 125
- Occupied
- 85.6%
- Leased
- 85.6%
- Exposure
- 16.8%
- Leases, 30 days
- 5
- Mandatory fees
- $5 / mo
- Concession
- Up to 8 Weeks Free Rent, 8 Weeks Free Rent
Subject rent
Market rent for every floor plan, priced from each unit type's underwritten rent and adjusted for size and plan premiums. In-place and Year 1 budget rents are base rent for market-rate homes, from Thrive's Year 1 underwriting budget.
| Unit type / floor plan | # Bed | # Bath | Unit description | Total homes | Market-rate | SF / unit | Total SF | % of units | In-place rent | Year 1 budget |
|---|---|---|---|---|---|---|---|---|---|---|
| Studio | Studio | 1 | Studio | 57 | 39 | 367 | 20,955 | 45.6% | $1,659 | $1,648 |
| Open 1 Bedroom | 1 | 1 | Open-1 | 22 | 14 | 490 | 10,740 | 17.6% | $2,011 | $2,123 |
| 1 Bedroom | 1 | 1 | 1 BR | 20 | 14 | 602 | 11,902 | 16.0% | $2,358 | $2,370 |
| 1 Bedroom + Den | 1 | 1 | 1 BR + Open-1 | 12 | 9 | 751 | 9,091 | 9.6% | $2,530 | $2,542 |
| 2 Bedroom 1 Bath | 2 | 1 | 2 BR | 14 | 11 | 743 | 10,290 | 11.2% | $2,912 | $3,006 |
| Property total / avg. | 125 | 87 | 512 | 62,978 | 100% | $2,077 | $2,105 | |||
Current available units
Vacant homes on Niwa's Oct 8, 2026 rent roll at today's asking rent, set against the Year 1 budget for the same unit type and rate type. Net effective reflects the advertised concession.
Vacant homes1814.4% of homes
Avg. asking$2,010
Avg. net effective$1,702
| Unit | Floor plan | Unit type | Rate type | SF | Asking rent | Asking PSF | Net effective | Year 1 budget | Asking vs. budget | Available | Days on market |
|---|---|---|---|---|---|---|---|---|---|---|---|
| #205 | S3 | Studio | Market | 359 | $1,595 | $4.44 | $1,350 | $1,648 | -3.2% | 2026-10-15 | 4 days |
| #206 | S1 | Studio | Market | 359 | $1,495 | $4.16 | $1,266 | $1,648 | -9.3% | Now | 41 days |
| #214 | S1 | Studio | Market | 349 | $1,595 | $4.57 | $1,350 | $1,648 | -3.2% | Now | 46 days |
| #218 | S1 | Studio | Market | 349 | $1,595 | $4.57 | $1,350 | $1,648 | -3.2% | 2026-10-15 | 15 days |
| #317 | S1 | Studio | Market | 349 | $1,650 | $4.73 | $1,397 | $1,648 | +0.1% | Now | 46 days |
| #509 | S2 | Studio | Market | 388 | $1,695 | $4.37 | $1,435 | $1,648 | +2.9% | Now | 26 days |
| #603 | S1 | Studio | Market | 369 | $1,695 | $4.59 | $1,435 | $1,648 | +2.9% | Now | 46 days |
| #606 | S1 | Studio | Market | 361 | $1,645 | $4.56 | $1,393 | $1,648 | -0.2% | Now | 46 days |
| #704 | S1 | Studio | Market | 360 | $1,675 | $4.65 | $1,418 | $1,648 | +1.6% | Now | 46 days |
| #803 | S1 | Studio | Market | 360 | $1,645 | $4.57 | $1,393 | $1,648 | -0.2% | Now | 46 days |
| #807 | S1 | Studio | Market | 360 | $1,695 | $4.71 | $1,435 | $1,648 | +2.9% | Now | 46 days |
| #320 | A4 | 1 Bedroom + Den | Market | 703 | $2,895 | $4.12 | $2,451 | $2,542 | +13.9% | Now | 46 days |
| #415 | A9 + Deck | Open 1 Bedroom | MHA | 438 | $1,795 | $4.10 | $1,520 | $1,676 | +7.1% | 2026-10-15 | 15 days |
| #501-1 | A5 | 1 Bedroom | MHA | 625 | $1,835 | $2.94 | $1,553 | $1,696 | +8.2% | Now | 16 days |
| #608 | B1 | 2 Bedroom 1 Bath | Market | 668 | $2,895 | $4.33 | $2,451 | $3,006 | -3.7% | 2026-10-10 | 15 days |
| #711 | B4 + Deck | 2 Bedroom 1 Bath | Market | 745 | $2,795 | $3.75 | $2,366 | $3,006 | -7.0% | Now | 46 days |
| #211-1 | B4 | 2 Bedroom 1 Bath | Market | 787 | $2,795 | $3.55 | $2,366 | $3,006 | -7.0% | Now | 41 days |
| #808-1 | B5 | 2 Bedroom 1 Bath | Market | 715 | $3,195 | $4.47 | $2,705 | $3,006 | +6.3% | Now | 64 days |
Affordable homes
38 homes carry rent and income restrictions — 25 under Seattle's MFTE program and 13 under MHA, per Thrive's Year 1 underwriting budget.
| Floor plan | MFTE homes | MFTE budget | MFTE in-place | MHA homes | MHA budget | MHA in-place |
|---|---|---|---|---|---|---|
| Studio | 12 | $1,693 | $1,595 | 6 | $1,101 | $1,104 |
| Open 1 Bedroom | 5 | $1,820 | $1,871 | 3 | $1,676 | $1,683 |
| 1 Bedroom | 4 | $2,150 | $2,031 | 2 | $1,696 | $1,650 |
| 1 Bedroom + Den | 2 | $2,312 | $2,258 | 1 | $1,785 | $1,750 |
| 2 Bedroom 1 Bath | 2 | $2,487 | $2,159 | 1 | $2,135 | $2,034 |
Features
31 amenities listed in ApartmentIQ. Amenity match against comps is scored on this list.
DishwasherGarbage DisposalKitchen IslandSS AppliancesWasher/DryerWasher/Dryer HookupAir ConditioningCarpetHardwood FloorsHigh CeilingsStone CountertopsVinyl FlooringViewsBalcony/Patio/Deck/TerraceFitness CenterBicycle StorageEV ChargingPet ParkControlled AccessElevatorLaundry FacilitiesOnline PaymentsPackage ServiceStorage SpaceBBQ/Grill AreaClubhouse/LoungeRooftop SpaceRooftop Terrace24-hour Fitness CenterPet WashConcierge Services
Managed by AGM Real Estate Group. Website (checked Oct 9) posts no special; ApartmentIQ shows up to 8 weeks free on select homes.