1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
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Ranjani Ravi

Ranjani Ravi

+1(425) 906-3948
Listed by:Paragon Real Estate Advisors • Michael Urquhart
$2,550,000
Est. payment /mo
12 Beds
8 Baths
5,895 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,895 sqft

Price per Sqft $432

Subdivision Queen Anne

MLS Listing ID 2531266

Style 55 - 5-9 Units

Bedrooms 12

Year Built 1925

Annual Tax Amount $23,139

Lot Size 8,400 Sqft

Property Sub-Type Multi Family

Property Description

Presenting the Fairseas Apartments, an eight unit multifamily property in the North Queen Anne neighborhood of Seattle. The asset delivers a 5.8% current cap rate on day one—a stabilized, high income-producing return in a submarket where most comparable listings are priced at sub-5.25% current yields. Six of the eight units have been fully renovated with market-quality finishes, including four 2BD/1BTH, one 1BD/1BTH, and one 1BD+Den/1BTH. The two original 1BD/1BTH units are occupied by long-term tenants paying below-market rents, representing significant upside to bring them to the same finish and rent tier as the rest of the building—without touching the renovated units or stabilized income. In-place renovated rents already reach $1,800 on the one bedroom, validating the finish level. The building also features a new Durolast roof and a full exterior refresh (paint, lighting, signage) within the last three years. It sits on an 8,400 SF LR3 RC (M) zoned lot with 12 on-site parking stalls in a walkable location: a short walk to Seattle Pacific University, the RapidRide D Line, and the retail and dining on 15th Avenue West, with direct commuter access to South Lake Union, Downtown Seattle, Ballard, and Fremont. North Queen Anne continues to benefit from supply-constrained multifamily stock and durable renter demand tied to SPU, the Fishermen's Terminal maritime cluster, and the Fremont tech corridor.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Laminate, Vinyl

Fireplace false

Exterior

Exterior Feature Brick, Wood Products

View Y/N No

Roof Type Flat

Building

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Ranjani Ravi

Ranjani Ravi

+1(425) 906-3948

Managing Broker | License ID: 23004133

Managing Broker License ID: 23004133

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