401 NE 40th Street, Seattle, WA 98105
- $4,600,000
- 15,433
- SqFt
Listing courtesy of Kidder Mathews.
- List Price
- $4,600,000
- Status
- PENDING
- MLS#
- 2433143
- Days on Market
- 267
- Style
- 56 - 10+ Units
- Finished SqFt
- 15,433
- Area Total SqFt
- 15433
- Annual Tax Ammount
- 44158
- Lot Size (sq ft)
- 10,664
- Sewer
- Sewer Connected
Property Description
A well maintained Multi-family asset in Seattle's walkable Wallingford neighborhood, one of the city's most coveted communities. Situated on a corner lot, the property is steps away from Lake Union, Gas Works Park and Burke Gilman Trail. On the market for the first time, featuring 15 units averaging 828 square feet. Most units offer views of Lake Union and all features large balconies. Secure entry, durable copper supply plumbing, cast iron drains and updated Square D electrical subpanels. 20 parking spaces (6 covered) large resident storage room and common laundry on two floors. A 5.3% cap rate on rents as of February 2026 (increase notice already sent) and current expenses with upside.
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Additional Information
- List Date
- 2025-11-01 18:16:11
- Community
- Wallingford
- Net Operating Income
- $243,444
- Gross Adjusted Income
- $362,133
- Gross Scheduled Income
- $381,192
- Total Monthly Income
- $31,766
- Insurance Expenses
- $3,278
- Water/Sewer/Garbage Expenses
- $21,334
- Gross Rent Multiplier
- 12.1
- Total Expenses
- $115,689
- Cap Rate
- 5.29
- Vacancy Rate
- 5
- Total Number of Units
- 15
- Unit Name
- 401
- Potential Terms
- Cash, Conventional
- Year Built
- 1964
- View
- Canal, City, Lake, Territorial
- Roof
- Flat
- Other Expenses
- 46919
- Energy Source
- Electric
- School District
- Seattle
- Elementary School
- Green Lake
- Middle School
- Hamilton Mid
- High School
- Lincoln High
- Total Monthly Income
- $31,766
- Gross Scheduled Income
- $381,192
- Vacancy Rate
- 5
- Gross Adjusted Income
- $362,133
- Tax Year
- 2025
- Insurance Expense
- $3,278
- W/S/G Expenses
- $21,334
- Total Expenses
- $115,689
- Net Operating Income
- $243,444
- Gross Rent Multiplier
- 12.1
- Cap Rate
- 5.29
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.