2108 NE 85th ST, Seattle, WA 98115
2108 NE 85th ST, Seattle, WA 98115
2108 NE 85th ST, Seattle, WA 98115
30
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Listed by:Opal Blue Real Estate, LLC • Grant Fosheim
$1,450,000
Est. payment /mo
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10 Beds
6 Baths
4,360 SqFt
New

2108 NE 85th ST Seattle, WA 98115

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Becci Colvin

Becci Colvin

+1(206) 280-0111

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,360 sqft

Price per Sqft $332

Subdivision Wedgwood

MLS Listing ID 2593779

Style 55 - 5-9 Units

Bedrooms 10

Year Built 1970

Annual Tax Amount $11,181

Lot Size 7,127 Sqft

Property Sub-Type Multi Family

Property Description

Six-unit apartment building in Seattle's Wedgwood neighborhood, well managed with zero vacancies and zero delinquencies. All paperwork is in order, with pre-screened tenants, move-in reports, healthy security deposits and last month's rent on file. Five of the six units have been renovated with new LVP, fresh paint and updated electrical packages, and three of those five also have remodeled kitchens and bathrooms. Major system updates include new electrical panels (2025), main sewer line replaced (2022), double-pane vinyl windows throughout (2025) and newer hot water tanks (2023). The heavy lifting is complete, allowing a new owner to take over operations with ease. The mix is two 1BD/1BA units (approx. 580 sf) and four 2BD/1BA units (approx. 800 sf) on a 7,841 sf lot. A large basement provides shared laundry and four storage units, and six off-street parking spaces offer additional income potential. The property is surrounded by new construction, reflecting continued investment in the area. Located in an established Northeast Seattle neighborhood near Green Lake, Seattle Children's Hospital, the University of Washington, I-5 and the Roosevelt light rail station. Solid in-place rents produce a 5.74% cap rate today. By finishing renovations as units turn over and adding in-unit washers and dryers to the 2BD units, a new owner has a clear path to a 7.13% cap rate at market rents.

Location

State WA

County King

Area 710 - North Seattle

Interior

Flooring Laminate, Vinyl, Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Wood Products

Amenities Available Fenced-Partially

View Y/N Yes

View Territorial

Roof Type Built-Up

Building

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Buyer To Verify

Middle Schools Buyer To Verify

High Schools Buyer To Verify

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Northwest MLS (NWMLS)
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Becci Colvin

Becci Colvin

Broker License ID: 22001606

+1(206) 280-0111

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2108 NE 85th ST