12317 35th Avenue NE, Seattle, WA 98125 (MLS # 2489986)
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Investor-Ready Cash-Flowing Triplex in Meadowbrook's LR3(M) Growth Zone Fully stabilized 1960 triplex in northeast Seattle's Meadowbrook neighborhood. Each of the three identical 3-bed/1-bath units is 1,100 SF and leased through 2026-2028. Tenants pay all utilities (electric directly; sewer/water/garbage via RUBS). Each unit has separate laundry, and the property includes seven off-street parking spaces. Capital Improvements (2019-2026): New SquareD panels, GFCI bath/kitchen upgrades, dedicated appliance/bath circuits, targeted heater replacements, PEX refit in Apts. A/C, bathtub re-plumbing, new toilets, new water heaters, new carpet/vinyl flooring, newer kitchen/bath cabinets, appliances, window coverings, interior paint, redirected drainage, and vinyl windows. Deferred maintenance addressed; capex schedule available. Location & Zoning Upside: Meadowbrook (98125) offers residential character and LR3(M) density upside. Rapid bus lines are within a 5-minute walk, Northgate light rail is about a 10-minute drive, and the Burke-Gilman Trail is nearby. Lake City Way adds nearby retail and dining convenience. Target Buyer: Small investor seeking stable cash flow or portfolio buyer consolidating LR3(M)-zoned assets. Clean title, clean books, clean systems. Boundary survey completed in 2018, adding due diligence value.
| LAST UPDATED | 4/25/2026 | TRACT | Meadowbrook |
|---|---|---|---|
| YEAR BUILT | 1960 | COMMUNITY | Meadowbrook |
| COUNTY | King | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 710 - North Seattle |
| CONSTRUCTION | See Remarks |
| HEAT | Baseboard, Electric |
| LOT | 5258 sq ft |
| LOT DESCRIPTION | Alley, Paved |
| MLS STATUS | Active |
| STORIES | 2 |
| STYLE | 53 - Tri-plex |
| SUBDIVISION | Meadowbrook |
| TAXES | 11586 |
| UTILITIES | Cable Available, Sewer Connected |
| WATER | Public |
| ZONING | Multi-Family |
| SATELLITE VIEW |
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