
Seattle, WA 98119
This mid-century five-plex presents a Prime Investment Opportunity with a List Price of $1,650,000—positioned well below the $1,698,625 Fair Market Value by 2%. This valuation gap offers $48,625 in Instant Equity. While the property maintains a Condition Rating of 4, the dated interiors provide a clear path for value-add renovations. With consistent rental demand on Queen Anne’s western slope, this is a stable Asset ideal for Buy-and-Hold Investors or Value-Add Developers seeking long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2822 14th Avenue W Subject 0 bd · 0 ba · 4,288 sqft · $396 | $1,650,000* List Price | 0 | 0 | 4,288 | $396 | - |
A 1318 W Barrett Street Sold 0 bd · 0 ba · 3,870 sqft · $402 · 0.1 mi | $1,555,500 | 0 | 0 | 3,870 | $402 | 0.1 mi |
B 1953 10th Avenue W Active 0 bd · 0 ba · 3,528 sqft · $424 · 0.6 mi | $1,495,000 List Price | 0 | 0 | 3,528 | $424 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1962, the property is exceptionally clean and well-maintained, but the interior systems, kitchen, and bathrooms are highly dated. The bathroom features vintage pink fixtures, and the kitchen retains older wood cabinetry and appliances. While functional and move-in ready for tenants, it requires modern updates.
Situated on Queen Anne's western slope, the property offers exceptional connectivity to major employment hubs like Downtown Seattle, Ballard, and Fremont, ensuring consistently high tenant demand.
This five-plex boasts a history of low vacancy and an attractive cap rate, providing immediate solid returns and long-term appreciation potential in a premier Seattle neighborhood.
The well-maintained mid-century building features units in great condition and includes dedicated basement storage for each tenant, which is a significant value-add for rental retention.
Built in 1962, the property may eventually require capital improvements for aging systems such as plumbing or electrical that are typical of mid-century construction.
As an older asset, it faces competition from newer luxury developments in the surrounding area that offer modern open-concept layouts and updated building amenities.
Exceptional investment opportunity on the western slope of Queen Anne. This well-maintained mid-century five-plex offers strong income, consistently low vacancy, and compelling long-term potential. The building and all five units are in great condition and each unit has its own dedicated storage unit in the basement. An attractive cap rate provides solid returns today with potential to further maximize income over time. The location provides quick access to Interbay, Ballard, Fremont, Magnolia, Downtown Seattle, and Highway 99, making it highly desirable for tenants seeking convenience and connectivity. Residents also enjoy easy access to Queen Anne's vibrant restaurants, cafés, shopping, parks, and major employment centers. A dependable, income-producing asset in one of Seattle's premier neighborhoods, with the potential to benefit from continued appreciation and future value-add. Pre-listing inspection report available upon request.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 4,288 | 5,554.5 |
| Lot Size | 6,000 | 10,915.5 |
| Price | $1.65M | $2.88M |
| Price per sq ft | $385 | $491 |
| Built year | 1962 | 1961 |
| HOA | $0 | $0 |
| Days on market | 52 | 124 |
Sep 2, 2026
$1,650,000
Initial Listing