$1,450,000

8 Beds 4 Baths 3,680 SQFT 0.26 Acres
Type: Multi-Family

1627 NE 199th Place
Shoreline, WA 98155

MLS#: 2548098
Presented by: Maple Leaf Real Estate LLC and NWMLS

Property Description

 

Excellent investment opportunity in a prime Shoreline location near the King/Snohomish County line! This well-maintained fourplex features four spacious 2-bedroom, 1-bath units each with a woodburning fireplace, walk-in closet, 2 large storage/linen closets, in-unit full size washer/dryer and a private covered patio or deck. Situated on a generous 11,475 sq. ft. lot at the end of a quiet dead-end street, the property includes four covered carport spaces, each with its own storage closet plus four additional storage closets for additional monthly income and three additional uncovered parking spaces along with several open guest parking spaces shared with other buildings. Building roof replaced in 2017. Located within the highly regarded Shoreline School District, this income-producing property provides convenient access to 1-5, 1-405, Shoreline and Mountlake Terrace light rail stations, shopping, dining, parks, Lake Washington and Edmonds waterfront. With spacious layouts, abundant parking and storage, and an excellent commuter location, this fourplex presents an outstanding opportunity for investors seeking a quality asset in one of the area's stronger rental markets.


 

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
FlooringCeramic Tile, Vinyl, Carpet
Heating Y/NYes
Power Production TypeElectric
Total Fireplaces0
Total Stories2

General

AmenitiesStorage
Building Area Units0 sqft
Cap Rate4.07
Carport Spaces4
Carport Y/NNo
CityShoreline
CoolingNone
CountyKing
DirectionsFrom 1-5, Exit 177 (SR-104/NE 205th St) head east on NE 205th St, right on 15th Ave NE, left on Forest Prk Dr NE, left on NE 199th Pl. Property is located at the end of the street.
Electric Expense0
Elementary SchoolBrookside Elem
Fuel Expense0
Garage Spaces0
HOANo
HOA Fee$0
HeatingBaseboard, Wall Furnace
High SchoolShorecrest High
High School DistrictShoreline
Insurance Expense3391
Leasable Area3,680 sqft
Listing TermsCash, Conventional
Living Area0 sqft
Lot Size Square Feet11,475 sqft
Lot Size UnitsSquare Feet
MLS Area720 - Lake Forest Park
Middle/Junior High SchoolKellogg Mid
NWM_ShowMapLinkY
Net Operating Income60975
New ConstructionNo
Number Of Units Total4
PossessionClosing, Subject To Tenant Rights
Possible UseMulti-Family
Property ConditionGood
Property Style54 - 4-Plex
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksExcellent investment opportunity in a prime Shoreline location near the King/Snohomish County line! This well-maintained fourplex features four spacious 2-bedroom, 1-bath units each with a woodburning
RoofComposition
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeQuadruplex
Subdivision NameLake Forest Park
Tax Annual Amount$11,467
Tax Year2026
Units Below Gradefalse
Units In Building Total4
Water CompanyNorthshore Water
Water Sewer Garbage8568
Year Built1980
Zoning DescriptionMulti-Family

Exterior

Building Area Total3,680 sqft
Covered Spaces4
Exterior AmenitiesWood
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot FeaturesCurbs, Dead End Street, Paved, Sidewalk
Lot Size Acres0.2634
Parking Uncovered Total3
Site FeaturesDeck, High Speed Internet, Patio
Total Parking7
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Schools 

Middle School Kellogg Mid
High School Shorecrest High
Elementary School Brookside Elem

  

Similar Properties

$1,450,000

8 Beds 4 Baths 3,680 SQFT 0.26 Acres
Type: Multi-Family

1627 NE 199th Place
Shoreline, WA 98155

MLS#: 2548098