12340 Sand Point Way NE, Seattle, WA 98125
- $1,425,000
- 4,350
- SqFt
Listing courtesy of John L. Scott, Inc.
- List Price
- $1,425,000
- Status
- ACTIVE
- MLS#
- 2567375
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,350
- Area Total SqFt
- 4350
- Annual Tax Ammount
- 14879
- Lot Size (sq ft)
- 5,633
- Sewer
- Sewer Connected
Property Description
Sandpoint Way Apartments is a well-maintained multifamily community in Seattle's desirable Sandpoint neighborhood, offering a diverse mix of one-, two-, and three-bedroom residences averaging approximately 821 square feet. Larger-than-average unit sizes provide broad appeal to healthcare workers while supporting strong tenant retention and leasing performance. Many residences enjoy premium Lake Washington views, enhancing the property's appeal and supporting rental premiums. The community is ideally located approximately one-half mile from the Burke-Gilman Trail and less than two miles from Matthews Beach Park, Seattle's largest freshwater swimming beach. Ownership has completed significant capital improvements, including a roof replacement within the last six years, Cutler-Hammer electrical panels, and primarily copper plumbing throughout, reducing near-term capital needs and supporting operational stability. The property is also conveniently located near major employment and institutional drivers, including the University of Washington, Seattle Children's Hospital, and the growing Magnuson Park corridor. The combination of desirable views, spacious units, recent improvements, and strong Northeast Seattle fundamentals makes Sandpoint Way Apartments a compelling multifamily investment opportunity.
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Additional Information
- List Date
- 2026-08-11 22:13:15
- Community
- Matthews Beach
- Net Operating Income
- $82,596
- Gross Adjusted Income
- $116,679
- Gross Scheduled Income
- $126,487
- Total Monthly Income
- $11,052
- Insurance Expenses
- $4,374
- Water/Sewer/Garbage Expenses
- $5,802
- Gross Rent Multiplier
- 11.27
- Total Expenses
- $43,892
- Cap Rate
- 5.79
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 12340
- Potential Terms
- Cash, Conventional
- Year Built
- 1930
- Roof
- Composition
- Other Expenses
- 18837
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $11,052
- Gross Scheduled Income
- $126,487
- Vacancy Rate
- 5
- Gross Adjusted Income
- $116,679
- Tax Year
- 2026
- Insurance Expense
- $4,374
- W/S/G Expenses
- $5,802
- Total Expenses
- $43,892
- Net Operating Income
- $82,596
- Gross Rent Multiplier
- 11.27
- Cap Rate
- 5.79
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.