1401 W Bertona Street, Seattle, WA 98119
- $2,425,000
- 5,895
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $2,425,000
- Status
- ACTIVE
- MLS#
- 2531266
- Price Change
- ▼ $125,000 1787865414
- Days on Market
- 91
- Style
- 55 - 5-9 Units
- Finished SqFt
- 5,895
- Area Total SqFt
- 5895
- Annual Tax Ammount
- 23139
- Lot Size (sq ft)
- 8,400
- Sewer
- Sewer Connected
Property Description
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.
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Additional Information
- List Date
- 2026-06-01 16:13:16
- Community
- Queen Anne
- Net Operating Income
- $149,139
- Gross Adjusted Income
- $209,789
- Gross Scheduled Income
- $218,530
- Total Monthly Income
- $18,211
- Insurance Expenses
- $5,262
- Water/Sewer/Garbage Expenses
- $12,608
- Gross Rent Multiplier
- 11.09
- Total Expenses
- $60,649
- Cap Rate
- 6.15
- Vacancy Rate
- 4
- Total Number of Units
- 8
- Unit Name
- 1401
- Potential Terms
- Cash, Conventional
- Year Built
- 1925
- Roof
- Flat
- Other Expenses
- 19640
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $18,211
- Gross Scheduled Income
- $218,530
- Vacancy Rate
- 4
- Gross Adjusted Income
- $209,789
- Tax Year
- 2026
- Insurance Expense
- $5,262
- W/S/G Expenses
- $12,608
- Total Expenses
- $60,649
- Net Operating Income
- $149,139
- Gross Rent Multiplier
- 11.09
- Cap Rate
- 6.15
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.