Perched high above the street, in one of Seattle's most reliably rented neighborhoods, this triplex provides a genuine sense of privacy and security to tenants, a sought-after respite increasingly rare in urban Seattle. These features, plus four parking stalls on a private dead-end alley, in-unit laundry, and northwest facing decks… Read More translate directly into tenant stability. All three units are currently occupied. Financials include a normalized cap rate on actual rents. The normalized figure removes one-time repairs, costs not inherited by a new owner. The vacancy reserve is a conservative underwriting cushion, not a reflection of this property's rental history. Unit 1 produces strong income today with fireplace, full appliances, and a private deck. Units 2 & 3 rents are below Interbay market rate for in-unit laundry 1BRs, offering a clear path to a higher cap rate and upside potential without capital investment. Solidly built, this triplex features a standing metal roof, copper plumbing, and fresh exterior paint. Added storage in the 330 SF flexible basement. Native landscaping keeps grounds simple to maintain with minimal costs. Fix up interiors on your timeline and collect strong rents in the meantime. Zoned LR1(M) on a 6,000 SF lot with alley access along a corridor that attracts density & long-term investment. This Interbay triplex offers a stable, fully occupied diamond-in-the rough asset with clear upside potential & multiple paths to improved returns. Read Less
Listing courtesy of Engel & Voelkers Seattle DT
Listing Snapshot
Cumulative Days On Market
49
Days on Website
48
Last Updated
Property Type
Triplex
Square Ft.
3,110
Lot Size
0.14 Acres
Year Built
1963
Property Tax
$14,430
MLS Number
2513387
30 Days Snapshot Of 98119
$1.06M
-3%
(avg) sold price
20
-13%
homes sold
55
-25%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 3110, Building Area Units: Square Feet, Calculated Square Footage: 3110, Elevation Units: Feet, Leasable Area: 2780, Living Area: 0, Number Of Units Total: 3, Stories Total: 2, Structure Type: "Triplex", Units In Building Total: 3, Year Built: 1963
Site Features: Deck, Zoning Description: See Remarks
Roof
Roof: "Metal"
Sewer
Sewer: "Sewer Connected", Sewer Company: SPU
Utilities
Electric Expense: 174, Fuel Expense: 0, Power Company: Seattle City Light, Power Production Type: "Electric", Water Company: SPU, Water Source: "Public"
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listings last updated on ,
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