205 26th Avenue E, Seattle, WA 98112
- $999,975
- 2,600
- SqFt
Listing courtesy of Windermere RE/Capitol Hill,Inc.
- List Price
- $999,975
- Status
- PENDING INSPECTION
- MLS#
- 2552318
- Days on Market
- 15
- Style
- 53 - Tri-plex
- Finished SqFt
- 2,600
- Area Total SqFt
- 2600
- Annual Tax Ammount
- 11564
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 4,800
- Sewer
- Sewer Connected
Property Description
201 26th Ave E is a classic Madison Park corner triplex — three two-bedroom units, two generating steady cash flow instantly with leases currently month to month, plus a third unit that is owner-occupied and will be delivered vacant at closing, an immediate opportunity to bring a full unit to market rent with no lease-turnover wait. Original condition throughout puts real upside within reach: renovate unit by unit and push rents toward market, or take the whole building through a full remodel to maximize long-term value — updated finishes and dedicated parking carry a clear rent premium. Set in Madison Park, one of Seattle's most desirable and supply-constrained lakeside neighborhoods, the building sits on the corner of 26th Ave E and E John St with alley-accessed off-street parking—sought after in this neighborhood—in a rental submarket that has consistently supported strong occupancy and rents. The sale is paired with the sister triplex at 205 26th Ave E (MLS #2552318), each contingent on the other, so a buyer takes down all three units immediately, two cash-flowing and one ready to lease at market, with the option to renovate for stronger returns, plus the added long-term upside of the combined corner site's LR3 development potential should redevelopment be the direction you want to take the property. Value-add corner triplexes with cash flow already in place and this much room to grow rarely come available in this pocket of Seattle.
/u.realgeeks.media/pnwcasas/PNWCasas_BLK_Logo.jpg){kind=logo}
Additional Information
- List Date
- 2026-07-11 14:22:11
- Community
- Madison Valley
- Net Operating Income
- $47,497
- Gross Adjusted Income
- $72,900
- Gross Scheduled Income
- $72,900
- Total Monthly Income
- $5,900
- Insurance Expenses
- $5,316
- Water/Sewer/Garbage Expenses
- $4,730
- Gross Rent Multiplier
- 13.72
- Total Expenses
- $25,402
- Cap Rate
- 4.75
- Total Number of Units
- 3
- Unit Name
- 205
- Potential Terms
- Cash, Conventional
- Year Built
- 1962
- View
- City
- Roof
- Flat
- Site Features
- Cable TV, Fenced-Partially, Gas Available, High Speed Internet
- Electric Expenses
- 473
- Other Expenses
- 3319
- Energy Source
- Electric
- School District
- Seattle
- Elementary School
- Mc Gilvra
- Middle School
- Meany Mid
- High School
- Garfield High
- Total Monthly Income
- $5,900
- Gross Scheduled Income
- $72,900
- Gross Adjusted Income
- $72,900
- Tax Year
- 2026
- Insurance Expense
- $5,316
- W/S/G Expenses
- $4,730
- Total Expenses
- $25,402
- Net Operating Income
- $47,497
- Gross Rent Multiplier
- 13.72
- Cap Rate
- 4.75
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.