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Listed by:Engel & Voelkers Seattle DT • Brad Wakeman

$1,050,000

Est. payment - /mo

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5 Beds

3 Baths

3,110 SqFt

Active

3438 14th AVE W Seattle, WA 98119

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Henry Jamerson

[email protected] +1(206) 839-6096

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,110 sqft

Price per Sqft $337

Subdivision Interbay

MLS Listing ID 2551244

Style 53 - Tri-plex

Bedrooms 5

Year Built 1963

Annual Tax Amount $14,430

Lot Size 6,000 Sqft

Property Sub-Type Multi Family

Property Description

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 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.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Ceramic Tile, Laminate, Vinyl, Carpet

Fireplace false

Exterior

Exterior Feature Wood

Amenities Available Deck

View Y/N Yes

View Territorial

Roof Type Metal

Building

Lot Description Alley, Curbs, Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Frantz Coe Elementary

Middle Schools Mc Clure Mid

High Schools Lincoln High

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Amenities & Attractions

Restaurants

Home Services

Health & Medical

Local Services

Shopping

Recreation

Arts & Entertainment

Food

Beauty

Nightlife

Event Planning & Services

Automotive

Religious Organizations

Financial Services

Professional Services

Travel

Local Media

Education

Pets

Marine Resources Company International

192 Nickerson St, Seattle, WA 98109

Seafood Phone: 206-285-6424
Yasuko’s Teriyaki

3200 15th Ave W, Seattle, WA 98119

Japanese Phone: 206-283-0116
Thai Fusion

15 Nickerson St, Seattle, WA 98109

Lounges Phone: 206-285-1020
Nickerson Street Saloon

318 Nickerson St, Seattle, WA 98109

Sports Bars Phone: 206-284-8819
Sng (USA)

3600 15th Avenue W, Seattle, WA 98119

Seafood Phone: 206-285-2326
Ponti Seafood Grill

3014 3rd Ave N, Seattle, WA 98109

Seafood Phone: 206-284-3000
North Pacific Seafoods.

4 Nickerson Street, Seattle, WA 98109

Seafood Markets Phone: 206-726-9900
Interocean Seafood Company

3918 15th Place W, Seattle, WA 98119

Seafood Phone: 206-352-8686
Eat Thai Cuisine

101 Nickerson St, Seattle, WA 98109

Thai Phone: 206-965-9889
Einstein Bros Bagels

315 W Bertona St, Seattle, WA 98119

Bagels Phone: 206-281-2129
LA Palma Mexican Restaurant

3456 15th Ave W, Seattle, WA 98119

Mexican Phone: 206-284-1001
Zeeks Pizza

41 Dravus St, Seattle, WA 98109

Pizza Phone: 206-285-8646
The Gulf

Seattle, WA 98108

Mexican Phone: 509-989-1401
Sandella’s Flatbread Cafe

3310 3rd Ave W, Seattle, WA 98119

Sandwiches Phone: 206-378-5371

Educational Environment

Elementary Schools (2)Middle Schools (1)

Name

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