4247 7Th AveSeattle, WA 98105

Property Details for 4247 7Th Ave

Year built

1919

Property size (Sq ft)

2,769 SF

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a fully leased, two-unit student housing duplex situated on a substantial 6,600 square foot lot in Seattle's vibrant University District. Currently generating a Net Operating Income (NOI) of $59,200, the property offers immediate cash flow with significant upside potential. The 2,796 square foot building, constructed in 1919 and renovated in 1940, boasts nine bedrooms across two stories. The property is zoned M1, allowing for mid-rise multifamily development with an 80-foot height limit, 4.5 FAR, and no parking requirements. A completed survey and geotechnical report are available, streamlining the development process. Located within walking distance of the University of Washington campus and the Light Rail, and with easy access to I-5, this property benefits from an unparalleled location in one of Seattle's most sought-after neighborhoods. The current lease is for one year, expiring August 31, 2025. The asking price is $2,250,000, making this a compelling investment for both seasoned developers and those seeking a strong rental income stream with future development possibilities. The property's King County APN is 4092300800. This is a 1031 exchange eligible property.

Location Insight

City

Seattle

County

King

State

Washington

Latitude

47.6589

Longitude

-122.321

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].