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About the Listing 6432 - 115693,38708
The Laureate presents a rare opportunity to acquire a well-maintained 23-unit multifamily asset building in the heart of the Seattle’s University District neighborhood and walking distance to both the University of Washington and the Link Light Rail Station. Originally built in 1961, the property benefits from recent extensive capital improvements and interior renovations, positioning the asset as a compelling combination of stable in-place income and future revenue growth potential. Ownership has invested significantly in the systems over the past 5 years: including a membrane roof replacement, replacement of all individual hot water tanks, securing and gating the parking for 17 vehicles, as well as overhauling the sprinkler system. Featuring a unit mix of 20 sizable 650 SF, 1-bedroom units and one 800 SF, 2-bedroom unit, select units have been renovated with modern finishes including luxury vinyl plank flooring, updated kitchens, stainless steel appliances, including dishwashers and in-unit W/D installations. All units feature A/C, and 1st floor units include patio access. The existing renovations provide future ownership with a blueprint to continue remodeling unit interiors and capture additional rental upside. Additionally, there is potential to assume the current debt with term through 2031.
Listing Highlights
Status
Active
Days on Site
24
Property Type
Multi-Family
MLS ®
2543808
Year Built
1961
Total Square Footage
15,100
Lot/Acreage
0.17
Interior Details
- Bedrooms: 24
- Bathrooms: 23 Full
- Appliances:
- Air Cond: Central Air
- Heating: Baseboard
- Fireplaces: 0
- Floor: Vinyl Plank,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Seattle Public Utilities
Exterior Details
- Lot Description: Paved,Sidewalk,High Speed Internet,Patio,Sprinkler System,Zoning: Multi-Family
- Garage Capacity: 17 car
- Parking Spaces: 17
- Zoning: Multi-Family
- Roof: Torch Down
- Others: Cement/Concrete,Wood,Very Good
- Sewer: Seattle Public Utilities
Financial Details
- Tax Amount: $47,556
- Taxes w/Assessments: N/A
- Tax/Property ID: 6746700975
- Tax Year: 2026
Payment Calculator
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Questions About..
4731 12th Ave NE Seattle, WA 98105
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