3438 14th Avenue W, Seattle, WA 98119
- $1,200,000
- 3,110
- SqFt
Courtesy of Engel & Voelkers Seattle DT
- List Price
- $1,200,000
- Status
- ACTIVE
- Days on Market
- 96
- MLS#
- 2551244
- Subtype
- Residential Income
- Style
- 53 - Tri-plex
- Year Built
- 1963
- Living Area
- 3,110
- Lot Size
- 6,000
- Acres
- 0.14
- Subdivision
- Interbay
- Neighborhood
- Interbay
- MLS Area Major
- Queen Anne/Magnolia
Property Description
Perched high above the street, in one of Seattle's most reliably rented neighborhoods, this triplex provides a genuine sense of privacy and security to tenants, a sought-after respite increasingly rare in urban Seattle. These features, plus four parking stalls on a private dead-end alley, in-unit laundry, and northwest facing decks translate directly into tenant stability.All three units are currently occupied. Financials include a normalized cap rate on actual rents. The normalized figure removes one-time repairs, costs not inherited by a new owner. The vacancy reserve is a conservative underwriting cushion, not a reflection of this property's rental history.Unit 1 produces strong income today with fireplace, full appliances, and a private deck. Units 2 & 3 rents are below Interbay market rate for in-unit laundry 1BRs, offering a clear path to a higher cap rate and upside potential without capital investment.Solidly built, this triplex features a standing metal roof, copper plumbing, and fresh exterior paint. Added storage in the 330 SF flexible basement. Native landscaping keeps grounds simple to maintain with minimal costs. Fix up interiors on your timeline and collect strong rents in the meantime.Zoned LR1(M) on a 6,000 SF lot with alley access along a corridor that attracts density & long-term investment. This Interbay triplex offers a stable, fully occupied diamond-in-the rough asset with clear upside potential & multiple paths to improved returns.
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Additional Information
- Amenities
- Basement, Storage
- Exterior Features
- Wood
- Property Description
- 53 - Tri-plex
- Flooring
- Ceramic Tile, Laminate, Vinyl, Carpet
- Heating
- Baseboard
- Air Conditioning
- None
- Roof
- Metal
- School District
- Seattle
- Elementary School
- Frantz Coe Elementary
- Middle School
- Mc Clure Mid
- High School
- Lincoln High
- View
- Territorial
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.