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(253) 209-4200
Real Estate Company
1612 N 38th Street, Seattle, WA 98103
- $1,199,000
- 6
- BD
- 3
- BA
- 1,850
- SqFt
Listing Broker: Skyline Properties, Inc.; Amir Rashidi; 206-498-2290; amir@gotobuysell.com
- List Price
- $1,199,000
- Status
- ACTIVE
- MLS#
- 2593173
- Bedrooms
- 6
- Finished SqFt
- 1,850
- Area Total SqFt
- 1850
- Annual Tax Ammount
- 9063
- Lot Size (sq ft)
- 2,400
- Sewer
- Sewer Connected
Property Description
Exceptional Investment Opportunity in Desirable Wallingford! This conveniently located legal duplex offers outstanding flexibility, strong rental income, and long-term investment potential—ideal for investors, owner-occupants, or multi-generational living. Generating $79,200 in actual annual rental income, with a projected NOI of $64,220 and a 5.36% cap rate, the property benefits from low operating expenses, with tenants paying all utilities and the owner responsible only for property taxes and insurance. No HOA fees! Live in one unit and rent the other, or enjoy the established rental income. Previously operated as an Airbnb, offering additional potential (buyer to verify eligibility). Each unit is separately metered with its own tankless water heater. Recent improvements and desirable features include a new roof, off-street parking, basement storage, a stone patio, and a private fenced backyard. Enjoy impressive Seattle skyline views from both units! The upper unit features double French doors opening to a balcony, while the lower unit offers a charming wrap-around porch. Ideally situated minutes from I-5, the University of Washington, Gas Works Park, John Stanford International School, and other highly regarded schools. A rare opportunity to own an income-producing duplex in one of Seattle's most sought-after neighborhoods! Offered at $1,199,000 | 5.36% Cap Rate | $79,200 Annual Rental Income.
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Additional Information
- Community
- Wallingford
- Style
- 12 - 2 Story
- Year Built
- 1902
- View
- See Remarks, Territorial
- Roof
- Composition
- Site Features
- Deck, Fenced-Fully, Gas Available, Patio
- Tax Year
- 2025
- School District
- Seattle
- Elementary School
- John Stanford Intl
- Middle School
- Hamilton Mid
- High School
- Lincoln High
- Potential Terms
- Cash, Conventional, FHA, USDA Loan, VA Loan
- Flooring
- Ceramic Tile, Engineered Hardwood, Carpet
- Driving Directions
- GPS. From NE 45th St: Head South on Wallingford Ave N, West on N 38th St, straight around the roundabout at Densmore to the home on the right.
- Appliance
- Tankless Water Heater
- Energy Source
- Electric, Natural Gas
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.