Well-maintained three-unit triplex in Lake City with bonus room conversion possibility (completed at sister property 14007 35th Ave NE) could add 4th unit; would require minor site work (rocks, walkway). Mature tenancy with low turnover history. Excellent cash-on-cash potential and cap rate expansion at market rents in one of Seattle's most culturally diverse and affordable neighborhoods. With a Walk Score of 81, tenants enjoy immediate access to a vibrant international food scene, neighborhood retail, convenient transit, and outdoor recreation at Matthews Beach Park and Jackson Park Golf Course-all with genuine community character and pricing that avoids the premium associated with western Seattle enclaves. Composite annual rent potential reaches $93,420 post-growth, plus storage ancillary income. Multiple value-add opportunities-in-unit laundry capex, conversion optionality, and storage monetization-provide seasoned investors with flexible exit strategies. An ideal entry point for first-time multifamily buyers seeking Seattle exposure or portfolio investors looking to add proven assets in an undervalued, high-demand neighborhood.
| MLS # | 2570689 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1978 |
| Days On Site | 86 |
| Listing Provided By | Pacific Crest | Alan Wileman |
| SQ Feet | 5,220 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 3 |
| Zoning | Multi-Family,Residential |
| Acreage | 0.21 |
| Property | 11086 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98125 |
| Area | 705 Ballard | Greenlake |
| Community Name | Wallingford |
| School District | Nathan Hale High |
| Elementary School | Olympic Hills |
| High School | Nathan Hale High |
| Listing VS Median (in Wallingford) | |
Price: $1,100,000 low | high Med: $895,000 sqft: 5,220 low | high Med: 1,597 $ / sqft: $211 low | high Med: $560 On site: 86 low | high Med: 38 | |
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98125 |
| Area | 705 Ballard | Greenlake |
| Community Name | Wallingford |
| School District | Nathan Hale High |
| Elementary School | Olympic Hills |
| High School | Nathan Hale High |
| Listing VS Median (in Wallingford) | |
Price: $1,100,000 low | high Med: $895,000 sqft: 5,220 low | high Med: 1,597 $ / sqft: $211 low | high Med: $560 On site: 86 low | high Med: 38 | |