4731 12th AVE NE, Seattle, WA 98105
4731 12th AVE NE, Seattle, WA 98105
4731 12th AVE NE, Seattle, WA 98105
4731 12th AVE NE, Seattle, WA 98105
4731 12th AVE NE, Seattle, WA 98105
4731 12th AVE NE, Seattle, WA 98105
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Whitney Johnsen

Whitney Johnsen

+1(206) 300-7050
Listed by:Lee & Associates Commercial RE • Daniel Lim
$ 6,500,000
Est. payment | /mo

24 Beds

23 Baths

25,500 SqFt

Save Virtual Tour
$ 6,500,000
Est. payment | /mo
Save Virtual Tour

24 Beds

23 Baths

25,500 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 25,500 sqft

Price per Sqft $254

Subdivision University District

MLS Listing ID 2543808

Style 56 - 10+ Units

Bedrooms 24

Year Built 1961

Annual Tax Amount $47,556

Lot Size 7,500 Sqft

Property Sub-Type Multi Family

Property Description

The Laureate presents a rare opportunity to acquire a well-maintained 23-unit multifamily asset building in the heart of the Seattle's University District neighborhood and walking distance to both the University of Washington and the Link Light Rail Station. Originally built in 1961, the property benefits from recent extensive capital improvements and interior renovations, positioning the asset as a compelling combination of stable in-place income and future revenue growth potential. Ownership has invested significantly in the systems over the past 5 years: including a membrane roof replacement, replacement of all individual hot water tanks, securing and gating the parking for 17 vehicles, as well as overhauling the sprinkler system. Featuring a unit mix of 20 sizable 650 SF, 1-bedroom units and one 800 SF, 2-bedroom unit, select units have been renovated with modern finishes including luxury vinyl plank flooring, updated kitchens, stainless steel appliances, including dishwashers and in-unit W/D installations. All units feature A/C, and 1st floor units include patio access. The existing renovations provide future ownership with a blueprint to continue remodeling unit interiors and capture additional rental upside. Additionally, there is potential to assume the current debt with term through 2031.

Location

State WA

County King

Area 710 - North Seattle

Interior

Flooring Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Cement/Concrete, Wood

Garage Spaces 17.0

Amenities Available High Speed Internet, Patio, Sprinkler System

View Y/N No

Roof Type Torch Down

Building

Lot Description Paved, Sidewalk

Sewer Sewer Connected

Water Public

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

Virtual Tour https://www.lee-associates.com/northwest/properties/?propertyId=1651035-sale&address=4731-12th-Ave-NE&officeId=2085

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

Nearby Locations

Whitney Johnsen
Whitney Johnsen

Broker Associate | License ID: 129332

+1(206) 300-7050 | team@key2see.com

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4731 12th AVE NE