3438 14th AVE W, Seattle, WA 98119
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3438 14th AVE W, Seattle, WA 98119
3438 14th AVE W, Seattle, WA 98119
3438 14th AVE W, Seattle, WA 98119
3438 14th AVE W, Seattle, WA 98119
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Carrie Struss

Carrie Struss

+1(503) 953-0850
Listed by:Engel & Voelkers Seattle DT • Bradley Wakeman
$ 1,250,000
Est. payment /mo
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3438 14th AVE W Seattle, WA 98119

5 Beds

3 Baths

3,110 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,110 sqft

Price per Sqft $401

Subdivision Interbay

MLS Listing ID 2513387

Style 53 - Tri-plex

Bedrooms 5

Year Built 1963

Annual Tax Amount $14,430

Lot Size 6,000 Sqft

Property Sub-Type Multi Family

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.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Ceramic Tile, Laminate, Vinyl, Carpet

Fireplace false

Exterior

Exterior Feature Wood

Amenities Available Deck

View Y/N Yes

View Territorial

Roof Type Metal

Building

Lot Description Alley, Curbs, Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Frantz Coe Elementary

Middle Schools Mc Clure Mid

High Schools Lincoln High

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Locations

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3438 14th AVE W