Active · Residential Income

1401 W Bertona Street , Seattle, WA 98119

Seattle, WA 98119

$2,425,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Paragon Real Estate Advisors · MLS #2531266 · Active

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About this property

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.

Property details

Property type: Multi Family
Year built: 1925
Lot size: 8,400 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $23,139 (2026)
Parking spaces: 12
School district: Seattle

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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