$1,850,000
12741 NE 35th Avenue NE, Seattle, WA 98125
6,351 Sq Ft
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MLS #2546321 / Listing provided by NWMLS & WPI Real Estate Services, Inc..

$1,850,000

12741 NE 35th Avenue NE
Seattle, WA 98125

Active 1 day ago
6,351
Sq Ft
$291
Per Sq Ft
1995
Year Built

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 trades 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.

Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.

Interior Features

Bedrooms

  • Upper Level Bedrooms: 0

Fireplaces

  • Total Fireplaces: 0

Heating & Cooling

  • Heating: Yes
  • Cooling: No
Exterior Features

Parking

  • Garage Spaces: 0
  • Parking Total: 10
  • Total Uncovered Parking Spaces: 10

Structure

  • Roof: Composition
  • Exterior Features: Cement Planked

Lot Details

  • Lot Features: Corner Lot, Sidewalk
  • Acres: 0.1635
Area Features

Schools

  • High School District: Seattle

Lot Details

  • Lot Features: Corner Lot, Sidewalk
  • Acres: 0.1635
Utilities

Power

  • Energy Source: Electric

Water, Sewer, and Garbage

  • Sewer: Sewer Connected
  • Water, Sewer, and Garbage: 16136
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