12741 NE 35th AVE NE, Seattle, WA 98125
12741 NE 35th AVE NE, Seattle, WA 98125
12741 NE 35th AVE NE, Seattle, WA 98125
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Ranjani Ravi

Ranjani Ravi

+1(425) 906-3948
Listed by:WPI Real Estate Services, Inc. • TC Wu
$1,850,000
Est. payment /mo
13 Beds
8 Baths
6,351 SqFt
Save

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,351 sqft

Price per Sqft $291

Subdivision Seattle

MLS Listing ID 2546321

Style 55 - 5-9 Units

Bedrooms 13

Year Built 1995

Annual Tax Amount $14,654

Lot Size 7,121 Sqft

Property Sub-Type Multi Family

Property Description

WPI Real Estate is pleased to present 12741 35th Ave NE, an 8-unit apartment building in the heart of North Seattle. Reconstructed in 1995, keeping only the foundation and frame, the building totals 6,351 gross square feet and comprises 5 two-bedroom and 3 one-bedroom units across approximately 5,515 rentable square feet, set on a 7,121SF corner lot zoned Lowrise 2 (M). The property is offered at an actual cap rate of 5.39%, with attractive owner financing available: 50% down @ 5% fixed interest, amortized over 360 months on a 5-year term. It delivers a stabilized income stream today, with clear upside through utility pass-through/RUBS implementation, adding additional units (buyer to verify) or updates as units turn. The building offers a desirable unit mix with functional layouts appealing to long-term tenants. Most units are corner homes with ample natural light, and many have vaulted ceilings and private balconies or patios. On-site parking and easy street access add to tenant convenience, while low-maintenance HardiPlank siding and a pitched roof (replaced in 2019) keep operating expenses low. Current rents present the opportunity for strategic increases through unit turns. With Seattle's continued population growth, zoning changes, and limited housing supply, this property is well-positioned for appreciation and sustained demand.

Location

State WA

County King

Area 710 - North Seattle

Interior

Fireplace false

Exterior

Exterior Feature Cement Planked

View Y/N No

Roof Type Composition

Building

Lot Description Corner Lot, Sidewalk

Sewer Sewer Connected

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional, Owner Will Carry

Listing Terms Cash, Conventional, Owner Will Carry

Read Less Info
Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Ranjani Ravi

Ranjani Ravi

+1(425) 906-3948

Managing Broker | License ID: 23004133

Managing Broker License ID: 23004133

Name

Name

Phone*

Phone

Message

By checking this box, I agree to receive recurring marketing communication from Ranjani Ravi, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

By checking this box, I agree to the Terms of Service and Privacy Policy of this website.

};