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Listed by:Paragon Real Estate Advisors • Rowan Davis
$ 2,588,000
Est. payment | /mo
8 Beds
5 Baths
3,850 SqFt
$ 2,588,000
Est. payment | /mo
8 Beds
5 Baths
3,850 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,850 sqft
Price per Sqft $672
Subdivision Moss Bay
MLS Listing ID 2570088
Style 55 - 5-9 Units
Bedrooms 8
Year Built 1962
Annual Tax Amount $15,635
Lot Size 10,000 Sqft
Property Sub-Type Multi Family
Property Description
This well-maintained five-unit apartment building presents a rare investment opportunity in Kirkland, where limited housing supply and strong rental demand support long-term value growth. Built in 1962 on a 10,000-square-foot PLA 6E-zoned lot, the property includes four renovated two-bedroom, one-bathroom units (850 SF each) and one fully renovated 450 SF studio. Over the past decade, units have been upgraded with LVP flooring, modern cabinetry, updated countertops, and renovated bathrooms, helping sustain strong tenant demand. The four two-bedroom units feature private balconies and in-unit washers and dryers, while the studio has a dedicated washer and dryer nearby. Each unit also includes a storage locker, currently provided at no charge, creating potential for additional income. Four covered parking spaces are likewise offered free to tenants, presenting further revenue upside. The property currently generates $11,875 per month in gross rental income and offers strong in-place cash flow with long-term stability. Located in Kirkland's desirable Moss Bay neighborhood, it is within walking distance of Google's Kirkland campuses, downtown Kirkland, Marina Park, restaurants, and shops. Nearby access to the Cross Kirkland Corridor and I-405 enhances connectivity to Bellevue and Seattle, supporting continued tenant demand and future rental growth.
Location
State WA
County King
Area 560 - Kirkland/Bridle Trails
Interior
Flooring Laminate
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N No
Roof Type Composition
Building
Sewer Available
Water Public
New Construction No
Schools
School District Lake Washington
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Marty Whitman
Agent | License ID: 22009898