717 3rd Avenue N, Seattle, WA 98109
- $1,749,000
- 3,760
- SqFt
Listing courtesy of Blake Investment Advisors.
- List Price
- $1,749,000
- Status
- PENDING
- MLS#
- 2532678
- Days on Market
- 44
- Style
- 55 - 5-9 Units
- Finished SqFt
- 3,760
- Area Total SqFt
- 3760
- Annual Tax Ammount
- 24338
- Lot Size (sq ft)
- 7,680
- Sewer
- Sewer Connected
Property Description
$218K PER UNIT IN "A+" LOCATION WITH VALUE-ADD UPSIDE! | 717 3rd Ave N is an 8-unit apartment investment located on the desirable south slope of Queen Anne, offering residents walkable access to major employers, shopping, dining, the Space Needle, Seattle Center, and Climate Pledge Arena. The building was originally constructed in 1945 with wood framing and features copper plumbing, updated electrical panels, double-pane vinyl windows, brick veneer, and horizontal and vertical cedar lap siding. A private parking lot with eight stalls is located on the west side of the property. The building sits on a 7,860-square-foot lot zoned LR3, a popular low-rise zoning designation in Seattle that allows for the development of townhomes, apartments, and row houses. The property consists of eight one-bedroom, one-bathroom units, each averaging approximately 470 square feet. Each unit has been extensively updated with hardwood flooring, new granite countertops, electric baseboard heating, new cabinetry, new appliances, new lighting fixtures, new doors, and fully renovated bathroom fixtures. Additionally, two top-floor units feature private balconies. These efficient, modernized one-bedroom units are low-maintenance and require minimal capital investment upon turnover. An assumable loan with a 3.52% interest rate is available for qualified buyers.
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Additional Information
- List Date
- 2026-07-07 20:14:13
- Community
- Queen Anne
- Net Operating Income
- $88,628
- Gross Adjusted Income
- $137,028
- Gross Scheduled Income
- $144,240
- Total Monthly Income
- $12,633
- Insurance Expenses
- $5,382
- Water/Sewer/Garbage Expenses
- $10,511
- Gross Rent Multiplier
- 12.12
- Total Expenses
- $56,680
- Cap Rate
- 5.07
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 717
- Potential Terms
- Conventional
- Year Built
- 1945
- Roof
- Composition
- Other Expenses
- 16449
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $12,633
- Gross Scheduled Income
- $144,240
- Vacancy Rate
- 5
- Gross Adjusted Income
- $137,028
- Tax Year
- 2026
- Insurance Expense
- $5,382
- W/S/G Expenses
- $10,511
- Total Expenses
- $56,680
- Net Operating Income
- $88,628
- Gross Rent Multiplier
- 12.12
- Cap Rate
- 5.07
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.