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401 NE 40th St
Seattle, WA 98105 Wallingford

$4,600,000 USD

Apartments For Sale  •  17,355 SF

Property Details

  • Property Type Apartments
  • Total Building Size 15,433 SF
  • Lot Size 0.24 AC
  • Building Class C
  • Year Built 1964
  • Cap Rate 5.29 %
  • Zoning LR3 (M)
77 Transit Score
82 Walk Score

Highlights

Excellent Wallingford location – Steps to Lake Union and Gas Works Park
15 units averaging 828 SF with large balconies, and many boasting views of Lake Union
20 parking spaces (6 covered), large resident storage room, common laundry rooms on two floors
Copper supply plumbing and cast iron drains, square D electrical subpanels, midcentury design, secured entry
First time on the market
Corner lot

Property Flyers

Financial Summary (Actual)

Net Operating Income: $243,443 USD (2024)
Cap Rate: 5.29 %
Total Expenses: $118,689 USD

Amenities

  • Dishwasher
  • Laundry Facilities
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Views
  • Storage Space
  • Deck
  • Double Pane Windows

Public Transportation

Commuter RailDriveWalkDistance
King Street (Seattle) Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder)) 10 min - 5.4 mi
AirportDriveWalkDistance
Seattle-Tacoma International 29 min - 18.6 mi
Seattle Paine Field International 30 min - 20.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 14
Type: Surface
Included in Rent: Yes
Dan Swanson 425-444-6501 Kidder Mathews
Dan Swanson 425-444-6501 Kidder Mathews