2657 Thorndyke Avenue W, Seattle, WA 98199
- $1,228,888
- 2,880
- SqFt
Listing courtesy of Realogics Sotheby's Int'l Rlty.
- List Price
- $1,228,888
- Status
- ACTIVE
- MLS#
- 2562308
- Days on Market
- 0
- Style
- 54 - 4-Plex
- Finished SqFt
- 2,880
- Area Total SqFt
- 2880
- Annual Tax Ammount
- 10018
- Lot Size (sq ft)
- 5,625
- Sewer
- Sewer Connected
Property Description
Fantastic opportunity to own a well-located fourplex in Seattle’s desirable Magnolia neighborhood. Three units are currently leased, while Unit 3 is intentionally being held vacant to provide easy access for showings and flexibility for the next owner. Ownership has historically prioritized stable, long-term tenancies and limited turnover, resulting in several rents remaining on the lower end and offering potential for future income growth. The property includes four dedicated off-street parking stalls—one for each unit—on-site laundry and a shared backyard area. Zoned LR3(M), the property may also offer long-term redevelopment or value-add possibilities, subject to buyer verification and applicable City of Seattle requirements. Conveniently located near Magnolia Village, Discovery Park, Queen Anne, Ballard and Downtown Seattle, with easy access to neighborhood shops, restaurants, parks, transit and major employment centers. An appealing opportunity for an investor or owner-occupant seeking established rental income, immediate leasing flexibility and long-term potential in one of Seattle’s most established neighborhoods. Please do not disturb tenants.
Additional Information
- List Date
- 2026-07-30 23:43:14
- Community
- Magnolia
- Net Operating Income
- $38,889
- Gross Adjusted Income
- $60,240
- Gross Scheduled Income
- $83,340
- Total Monthly Income
- $5,020
- Insurance Expenses
- $2,809
- Water/Sewer/Garbage Expenses
- $5,479
- Gross Rent Multiplier
- 14.75
- Total Expenses
- $21,351
- Cap Rate
- 3.16
- Vacancy Rate
- 27
- Total Number of Units
- 4
- Unit Name
- 2657
- Potential Terms
- Cash, Conventional
- Year Built
- 1959
- View
- Golf Course, Territorial
- Roof
- Flat
- Site Features
- Patio
- Electric Expenses
- 589
- Other Expenses
- 2456
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $5,020
- Gross Scheduled Income
- $83,340
- Vacancy Rate
- 27
- Gross Adjusted Income
- $60,240
- Tax Year
- 2026
- Insurance Expense
- $2,809
- W/S/G Expenses
- $5,479
- Total Expenses
- $21,351
- Net Operating Income
- $38,889
- Gross Rent Multiplier
- 14.75
- Cap Rate
- 3.16
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.