16 147th Avenue SE, Bellevue, WA 98007
- $1,875,000
- 4,150
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $1,875,000
- Status
- PENDING
- MLS#
- 2522417
- Price Change
- ▼ $120,000 1782340762
- Days on Market
- 75
- Style
- 54 - 4-Plex
- Finished SqFt
- 4,150
- Area Total SqFt
- 4150
- Annual Tax Ammount
- 12454
- Lot Size (sq ft)
- 8,178
- Sewer
- Sewer Connected
Property Description
The Bellevue Fourplex consists of four spacious two-bedroom, one-bathroom units averaging 1,038 square feet each, with a total net rentable area of 4,150 square feet on an 8,178 square foot lot. Each unit features in-unit washers and dryers, double-pane vinyl windows, and an attached garage, with tenants responsible for all utilities. The property has been meticulously maintained, including an approximately eight-year-old TPO membrane roof. Current rents average $2,168 per unit, while market rents are $2,500 per unit, presenting a new owner with immediate rental upside through light interior renovations. The property benefits from proximity to Kelsey Creek Center, a well-established neighborhood retail hub. Anchored by a mix of grocery, dining, and service-oriented tenants, the center enhances day-to-day livability and serves as a strong amenity for residents, supporting long-term tenant demand and overall appeal. Ideally located just minutes from Downtown Bellevue, T-Mobile headquarters, Microsoft’s Redmond campus, and with quick access to I-90 and I-405, the Bellevue Fourplex offers a compelling combination of location, in-place income, and rental upside in a market defined by limited supply and strong tenant demand.
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Additional Information
- List Date
- 2026-05-12 16:25:15
- Community
- Crossroads
- Net Operating Income
- $85,842
- Gross Adjusted Income
- $105,432
- Gross Scheduled Income
- $105,432
- Total Monthly Income
- $8,786
- Insurance Expenses
- $1,920
- Gross Rent Multiplier
- 17.78
- Total Expenses
- $19,590
- Cap Rate
- 4.58
- Total Number of Units
- 4
- Unit Name
- 16
- Potential Terms
- Assumable, Cash
- Year Built
- 1969
- Roof
- Flat
- Other Expenses
- 5216
- Energy Source
- Electric
- School District
- Bellevue
- Total Monthly Income
- $8,786
- Gross Scheduled Income
- $105,432
- Gross Adjusted Income
- $105,432
- Tax Year
- 2026
- Insurance Expense
- $1,920
- Total Expenses
- $19,590
- Net Operating Income
- $85,842
- Gross Rent Multiplier
- 17.78
- Cap Rate
- 4.58
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.