12741 NE 35th Avenue NE, Seattle, WA 98125 (MLS # 2546321)

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Listing provided courtesy of Northwest MLS; WPI Real Estate Services, Inc.

PRICE $1,850,000
BEDS 0
BATHS 0
HOME SIZE 6,351 sqft
LOT SIZE 7,123 sqft
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WPI Real Estate is pleased to present 12741 35th Ave NE, an 8-unit apartment building in the heart of North Seattle. Reconstructed in 1995, keeping only the foundation and frame, the building totals 6,351 gross square feet and comprises 5 two-bedroom and 3 one-bedroom units across approximately 5,515 rentable square feet, set on a 7,121SF corner lot zoned Lowrise 2 (M). The property trades at an actual cap rate of 5.39%, with attractive owner financing available: 50% down,5% fixed interest, amortized over 360 months on a 5-year term. It delivers a stabilized income stream today, with clear upside through utility pass-through/RUBS implementation, adding additional units (buyer to verify) or updates as units turn. The building offers a desirable unit mix with functional layouts appealing to long-term tenants. Most units are corner homes with ample natural light, and many have vaulted ceilings and private balconies or patios. On-site parking and easy street access add to tenant convenience, while low-maintenance HardiPlank siding and a pitched roof (replaced in 2019) keep operating expenses low. Current rents present the opportunity for strategic increases through unit turns. With Seattle's continued population growth, zoning changes, and limited housing supply, this property is well-positioned for appreciation and sustained demand.

LAST UPDATED 6/25/2026 TRACT Seattle
YEAR BUILT 1995 COMMUNITY Seattle
COUNTY King STATUS Active
PROPERTY TYPE(S) Multi Family


ADDITIONAL DETAILS
AIR None
AREA 710 - North Seattle
CONSTRUCTION Cement Siding
HEAT Electric, Forced Air, Radiant, Wall Furnace
LOT 7122 sq ft
LOT DESCRIPTION Corner Lot, Sidewalk
MLS STATUS Active
STORIES 3
STYLE 55 - 5-9 Units
SUBDIVISION Seattle
TAXES 14654
UTILITIES Sewer Connected

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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 6/26/26 11:59 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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