712 N 143rd Street, Seattle, WA 98133 (MLS # 2555010)

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Listing provided courtesy of Northwest MLS; Paragon Real Estate Advisors

PRICE $2,450,000
BEDS 0
BATHS 0
HOME SIZE 10,280 sqft
LOT SIZE 9,963 sqft
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The property sits in one of North Seattle's fastest-improving rental corridors. The location is further supported by Sound Transit's new Shoreline South/148th light rail station and direct bus access to downtown Seattle. The offering represents an operational value-add opportunity. The asset is in good physical condition, bolstered by recent capital improvements including a new TPO membrane roof (2023), upgraded electrical panels (2024), and replaced window panes (2025). With the option to upgrade units on turnover and capture premium rents as leases roll, and with scheduled rents below market and no utility bill-back currently in place, a new ownership group can grow income through natural lease turnover, selective unit upgrades, and the implementation of a utility recapture program, meaningfully lifting NOI. At market operations, the offering achieves a 7.4% cap rate and a 9.7% cash-on-cash return, giving new ownership strong performance upside as rents are brought up to market. At just $238 per square foot and $175,000 per door, the property presents an exceptional basis for a 1980s-built asset, well below recent comparable sales in the area. Current in-place rents average $1,205 for the eleven one-bedroom units and $1,617 for the three two-bedroom units, while comparable properties in the area are achieving approximately $1,550 and $1,875.

LAST UPDATED 7/15/2026 TRACT Parkwood
YEAR BUILT 1983 COMMUNITY Parkwood
COUNTY King STATUS Active
PROPERTY TYPE(S) Multi Family


ADDITIONAL DETAILS
AIR None
AREA 715 - Richmond Beach/Shoreline
CONSTRUCTION See Remarks
HEAT Electric, Wall Furnace
LOT 9962 sq ft
MLS STATUS Active
STORIES 3
STYLE 56 - 10+ Units
SUBDIVISION Parkwood
TAXES 30563
UTILITIES Sewer Available
WATER Public
ZONING Multi-Family

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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 7/21/26 6:11 PM 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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