2318 Yale Avenue E, Seattle, WA 98102
- $3,095,000
- 8,850
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $3,095,000
- Status
- ACTIVE
- MLS#
- 2518111
- Price Change
- ▼ $200,000 1783378923
- Days on Market
- 83
- Style
- 56 - 10+ Units
- Finished SqFt
- 8,850
- Area Total SqFt
- 8850
- Annual Tax Ammount
- 30522
- Lot Size (sq ft)
- 6,600
- Sewer
- Sewer Connected
Property Description
The Jennifer Marie is a 10-unit apartment building located in the heart of Seattle’s Eastlake neighborhood. Built in 1969, the property features a mix of 1BD, 2BD, and 3BD units totaling 8,850 rentable square feet on a 6,600 square foot lot zoned LR3 (M). The building is in strong physical condition with major systems in great shape. New roof was installed in May 2025 and comes with a transferable warranty. 8 units received new luxury vinyl plank (LVP) flooring when they were turned over between late 2023 and early 2024. The kitchens and bathrooms across the building remain largely original, creating a clear renovation path in targeted improvements to push rents from the current average of $2,197 to a projected $2,663, a 21% increase. The building has 12 parking stalls (9 open and 3 covered tandem). 2 units are currently nonconforming. The Seller has invested in architectural plans and worked with the City of Seattle to prepare a legalization permit. The permit is teed up for a buyer to go to the city, pay the outstanding fees, and pick it up (buyer to verify).
/u.realgeeks.media/pnwcasas/PNWCasas_BLK_Logo.jpg){kind=logo}
Additional Information
- List Date
- 2026-05-04 17:58:11
- Community
- Eastlake
- Net Operating Income
- $173,182
- Gross Adjusted Income
- $256,313
- Gross Scheduled Income
- $264,240
- Total Monthly Income
- $22,020
- Insurance Expenses
- $8,085
- Water/Sewer/Garbage Expenses
- $14,843
- Gross Rent Multiplier
- 11.71
- Total Expenses
- $83,131
- Cap Rate
- 5.6
- Vacancy Rate
- 3
- Total Number of Units
- 10
- Unit Name
- 2318
- Potential Terms
- Cash, Conventional
- Year Built
- 1969
- Roof
- Flat
- Other Expenses
- 29681
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $22,020
- Gross Scheduled Income
- $264,240
- Vacancy Rate
- 3
- Gross Adjusted Income
- $256,313
- Tax Year
- 2026
- Insurance Expense
- $8,085
- W/S/G Expenses
- $14,843
- Total Expenses
- $83,131
- Net Operating Income
- $173,182
- Gross Rent Multiplier
- 11.71
- Cap Rate
- 5.6
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.