1627 NE 199th Place, Shoreline, WA 98155
- $1,500,000
- 3,680
- SqFt
Listing courtesy of Maple Leaf Real Estate LLC.
- List Price
- $1,500,000
- Status
- ACTIVE
- MLS#
- 2548098
- Days on Market
- 25
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 3,680
- Area Total SqFt
- 3680
- Annual Tax Ammount
- 11467
- Lot Size (sq ft)
- 11,475
- Sewer
- Sewer Connected
Property Description
Excellent investment opportunity in a prime Shoreline location near the King/Snohomish County line! This well-maintained fourplex features four spacious 2-bedroom, 1-bath units each with a woodburning fireplace, walk-in closet, 2 large storage/linen closets, in-unit full size washer/dryer and a private covered patio or deck. Situated on a generous 11,475 sq. ft. lot at the end of a quiet dead-end street, the property includes four covered carport spaces, each with its own storage closet plus four additional storage closets for additional monthly income and three additional uncovered parking spaces along with several open guest parking spaces shared with other buildings. Building roof replaced in 2017. Located within the highly regarded Shoreline School District, this income-producing property provides convenient access to 1-5, 1-405, Shoreline and Mountlake Terrace light rail stations, shopping, dining, parks, Lake Washington and Edmonds waterfront. With spacious layouts, abundant parking and storage, and an excellent commuter location, this fourplex presents an outstanding opportunity for investors seeking a quality asset in one of the area's stronger rental markets.
Additional Information
- List Date
- 2026-07-03 18:05:12
- Community
- Lake Forest Park
- Net Operating Income
- $60,975
- Gross Adjusted Income
- $93,780
- Gross Scheduled Income
- $93,780
- Total Monthly Income
- $7,815
- Insurance Expenses
- $3,391
- Water/Sewer/Garbage Expenses
- $8,568
- Gross Rent Multiplier
- 16
- Total Expenses
- $32,804
- Cap Rate
- 4.07
- Total Number of Units
- 4
- Unit Name
- 1627
- Potential Terms
- Cash, Conventional
- Year Built
- 1980
- Roof
- Composition
- Site Features
- Deck, High Speed Internet, Patio
- Other Expenses
- 9378
- Energy Source
- Electric
- School District
- Shoreline
- Elementary School
- Brookside Elem
- Middle School
- Kellogg Mid
- High School
- Shorecrest High
- Total Monthly Income
- $7,815
- Gross Scheduled Income
- $93,780
- Gross Adjusted Income
- $93,780
- Tax Year
- 2026
- Insurance Expense
- $3,391
- W/S/G Expenses
- $8,568
- Total Expenses
- $32,804
- Net Operating Income
- $60,975
- Gross Rent Multiplier
- 16
- Cap Rate
- 4.07
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.