Pending

$4,600,000

21 Beds 18 Baths 15,433 SQFT 0.24 Acres

Type: Pending

401 NE 40th Street
Seattle, WA 98105

MLS#: 2433143

Presented by: Kidder Mathews and NWMLS

Property Description

A well maintained Multi-family asset in Seattle's walkable Wallingford neighborhood, one of the city's most coveted communities. Situated on a corner lot, the property is steps away from Lake Union, Gas Works Park and Burke Gilman Trail. On the market for the first time, featuring 15 units averaging 828 square feet. Most units offer views of Lake Union and all features large balconies. Secure entry, durable copper supply plumbing, cast iron drains and updated Square D electrical subpanels. 20 parking spaces (6 covered) large resident storage room and common laundry on two floors. A 5.3% cap rate on rents as of February 2026 (increase notice already sent) and current expenses with upside.

Interior Features

Bedrooms

Bedrooms Upper0

Bathrooms

Baths Full Upper0

Baths Half Upper0

Baths Three Quarter Upper0

Other Interior Features

Air Conditioning Y/NNo

Fireplace Y/NNo

Heating Y/NYes

Power Production TypeElectric

Total Fireplaces0

Total Stories3

General

AmenitiesCoin Op Laundry, Storage, Thermal Windows

Building Area Units0 sqft

Cap Rate5.29

Carport Spaces6

Carport Y/NNo

CitySeattle

CoolingNone

CountyKing

DirectionsProperty is located on the triangular shaped land between NE Pacific St, NE 40th St and 4th Ave NE.

Electric Expense0

Elementary SchoolGreen Lake

Energy EfficientThermal Windows

Fuel Expense0

HOANo

HOA Fee$0

HeatingBaseboard

High SchoolLincoln High

High School DistrictSeattle

Insurance Expense3278

Leasable Area14,238 sqft

Listing TermsCash, Conventional

Living Area0 sqft

Lot Size Square Feet10,664 sqft

Lot Size UnitsSquare Feet

MLS Area705 - Ballard/Greenlake

Middle/Junior High SchoolHamilton Mid

NWM_ShowMapLinkY

Net Operating Income243444

New ConstructionNo

Number Of Units Total15

Open Parking Spaces14

PossessionClosing, Subject To Tenant Rights

Possible UseMulti-Family

Property Style56 - 10+ Units

Property SubtypeMulti Family

Property TypeResidential Income

Public RemarksA well maintained Multi-family asset in Seattle's walkable Wallingford neighborhood, one of the city's most coveted communities. Situated on a corner lot, the property is steps away from Lake Union, Gas

RoofFlat

Senior Community Y/NNo

SewerSewer Connected

Special Listing ConditionsNone

Standard StatusPending

StatusPending

Structure TypeMulti Family

Subdivision NameWallingford

Tax Annual Amount$44,158

Tax Year2025

Units Below Gradefalse

Units In Building Total15

ViewCanal, City, Lake, Territorial

Water Sewer Garbage21334

Year Built1964

Zoning DescriptionMulti-Family

Exterior

Building Area Total15,433 sqft

Covered Spaces0

Exterior AmenitiesBrick, Stucco, Wood

Irrigation Water Rights Y/NNo

Lot FeaturesCorner Lot, Curbs, Paved, Sidewalk

Lot Size Acres0.2448

Parking Uncovered Spaces14

Water SourcePublic

Waterfront Y/NNo

Additional Details

Price History

Schools

Elementary School Green Lake Elementary School

Middle School Hamilton Mid

High School Lincoln High

Similar Properties

$4,600,000

21 Beds 18 Baths 15,433 SQFT 0.24 Acres

Type: Pending

401 NE 40th Street
Seattle, WA 98105

MLS#: 2433143

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Property

$4,600,000

401 NE 40th StreetSeattle, WA 98105

Property Description

Interior Features

Bedrooms

Bathrooms

Other Interior Features

General

Exterior

Additional Details

Price History

Schools

Similar Properties

$4,600,000

401 NE 40th StreetSeattle, WA 98105

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401 NE 40th Street
Seattle, WA 98105

401 NE 40th Street
Seattle, WA 98105