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About the Listing 7086 - 120656,142498
The asset delivers a 6.15% current cap rate on day one providing 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, the building has a new Durolast roof, and received a full exterior refresh (paint, lighting, and signage) within the last three years. The building consists of six renovated units including four 2BD/1BTH residences, one 1BD/1BTH, and one 1BD+Den/1BTH and two original 1BD/1BTH units currently occupied by long-term tenants paying below-market rents. The two original units represent significant upside for a new owner to bring these final two units to the same finish level and rent tier as the rest of the building, without touching the renovated units or any stabilized income. In-place renovated rents at Fairseas already reach $1,800 on the one bedroom, validating the finish level and rental capability. The property sits on an 8,400 square foot LR3 RC (M) zoned lot with 12 on-site parking stalls in a walkable North Queen Anne location: 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.
Listing Highlights
Status
Active
Days on Site
90
Property Type
Multi-Family
MLS ®
2531266
Year Built
1925
Total Square Footage
5,895
Lot/Acreage
0.19
Interior Details
- Bedrooms: 12
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating: Forced Air
- Fireplaces: 0
- Floor: Laminate,Vinyl
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Zoning: Multi-Family
- Garage Capacity: N/A
- Parking Spaces: 12
- Zoning: Multi-Family
- Roof: Flat
- Others: Brick,Wood Products
- Sewer: Sewer Connected
Financial Details
- Tax Amount: $23,139
- Taxes w/Assessments: N/A
- Tax/Property ID: 2770603680
- Tax Year: 2026
Payment Calculator
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Questions About..
1401 W Bertona St Seattle, WA 98119
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