1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
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Kathy Schneider

Kathy Schneider

+1(360) 360-5499
Listed by:Paragon Real Estate Advisors • Michael Urquhart
$ 2,425,000
Est. payment | /mo

12 Beds

8 Baths

5,895 SqFt

Save
$ 2,425,000
Est. payment | /mo
Save

12 Beds

8 Baths

5,895 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,895 sqft

Price per Sqft $411

Subdivision Queen Anne

MLS Listing ID 2531266

Style 55 - 5-9 Units

Bedrooms 12

Year Built 1925

Annual Tax Amount $23,139

Lot Size 8,400 Sqft

Property Sub-Type Multi Family

Property Description

The asset delivers a 6.15% current cap rate on day one providing a stabilized, high income-producing return in a submarket where most comparable listings are priced at sub-5.25% current yields. Six of the eight units have been fully renovated with market-quality finishes, the building has a new Durolast roof, and received a full exterior refresh (paint, lighting, and signage) within the last three years. The building consists of six renovated units including four 2BD/1BTH residences, one 1BD/1BTH, and one 1BD+Den/1BTH and two original 1BD/1BTH units currently occupied by long-term tenants paying below-market rents. The two original units represent significant upside for a new owner to bring these final two units to the same finish level and rent tier as the rest of the building, without touching the renovated units or any stabilized income. In-place renovated rents at Fairseas already reach $1,800 on the one bedroom, validating the finish level and rental capability. The property sits on an 8,400 square foot LR3 RC (M) zoned lot with 12 on-site parking stalls in a walkable North Queen Anne location: short walk to Seattle Pacific University, the RapidRide D Line, and the retail and dining on 15th Avenue West, with direct commuter access to South Lake Union, Downtown Seattle, Ballard, and Fremont.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Laminate, Vinyl

Fireplace false

Exterior

Exterior Feature Brick, Wood Products

View Y/N No

Roof Type Flat

Building

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Locations

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Kathy Schneider
Kathy Schneider

Client Consultant REALTOR® Lic# 37041

+1(360) 360-5499

4801 S 19th St. Ste 200, Tacoma, WA 98405, USA

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1401 W Bertona ST