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Listed by:WPI Real Estate Services, Inc. • TC Wu
$ 1,850,000
Est. payment /mo
New
12741 NE 35th AVE NE Seattle, WA 98125
13 Beds
8 Baths
6,351 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,351 sqft
Price per Sqft $291
Subdivision Seattle
MLS Listing ID 2546321
Style 55 - 5-9 Units
Bedrooms 13
Year Built 1995
Annual Tax Amount $14,654
Lot Size 7,121 Sqft
Property Sub-Type Multi Family
Property Description
WPI Real Estate is pleased to present 12741 35th Ave NE, an 8-unit apartment building in the heart of North Seattle. Reconstructed in 1995, keeping only the foundation and frame, the building totals 6,351 gross square feet and comprises 5 two-bedroom and 3 one-bedroom units across approximately 5,515 rentable square feet, set on a 7,121SF corner lot zoned Lowrise 2 (M). The property is offered at an actual cap rate of 5.39%, with attractive owner financing available: 50% down @ 5% fixed interest, amortized over 360 months on a 5-year term. It delivers a stabilized income stream today, with clear upside through utility pass-through/RUBS implementation, adding additional units (buyer to verify) or updates as units turn. The building offers a desirable unit mix with functional layouts appealing to long-term tenants. Most units are corner homes with ample natural light, and many have vaulted ceilings and private balconies or patios. On-site parking and easy street access add to tenant convenience, while low-maintenance HardiPlank siding and a pitched roof (replaced in 2019) keep operating expenses low. Current rents present the opportunity for strategic increases through unit turns. With Seattle's continued population growth, zoning changes, and limited housing supply, this property is well-positioned for appreciation and sustained demand.
Location
State WA
County King
Area 710 - North Seattle
Interior
Fireplace false
Exterior
Exterior Feature Cement Planked
View Y/N No
Roof Type Composition
Building
Lot Description Corner Lot, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash, Conventional, Owner Will Carry
Listing Terms Cash, Conventional, Owner Will Carry
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