Active · Residential Income

12317 35th Avenue NE, Seattle, WA 98125

Seattle, WA 98125

$1,216,800

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by MLS4owners.com · MLS #2489986 · Active

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About this property

Investor-Ready Cash-Flowing Triplex in Meadowbrook’s LR3(M) Growth Zone Fully stabilized 1960 triplex in northeast Seattle’s Meadowbrook neighborhood. Each of the three identical 3-bed/1-bath units is 1,100 SF and leased through 2026-2028. Tenants pay all utilities (electric directly; sewer/water/garbage via RUBS). Each unit has separate laundry, and the property includes seven off-street parking spaces. Capital Improvements (2019–2026): New SquareD panels, GFCI bath/kitchen upgrades, dedicated appliance/bath circuits, targeted heater replacements, PEX refit in Apts. A/C, bathtub re-plumbing, new toilets, new water heaters, new carpet/vinyl flooring, newer kitchen/bath cabinets, appliances, window coverings, interior paint, redirected drainage, and vinyl windows. Deferred maintenance addressed; capex schedule available. Location & Zoning Upside: Meadowbrook (98125) offers residential character and LR3(M) density upside. Rapid bus lines are within a 5-minute walk, Northgate light rail is about a 10-minute drive, and the Burke-Gilman Trail is nearby. Lake City Way adds nearby retail and dining convenience. Target Buyer: Small investor seeking stable cash flow or portfolio buyer consolidating LR3(M)-zoned assets. Clean title, clean books, clean systems. Boundary survey completed in 2018, adding due diligence value.

Property details

Property type: Multi Family
Year built: 1960
Lot size: 5,258 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $11,586 (2026)
Parking spaces: 6
School district: Seattle

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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