We are pleased to present Rainier View Homes, an 11-home multifamily community. Built in 2018, this unique investment opportunity features a collection of well-maintained 2 & 3 bedroom cottages, averaging 1,314 SF. Each home offers high-quality finishes including engineered wood flooring, quartz CT and stainless-steel appliances, W/D, A/C, ample storage, tall vaulted ceilings, large windows, and spacious patios. Positioned on individual parcels, each home can be sold separately, providing investors with exit flexibility and condo resale potential. Similar homes in the area have sold individually for approximately $625,000 or $425/SF, presenting a clear value gap and upside. Offered at $455,000/home & $346/SF.
Northmarq Multifamily, LLCLicense #87455Listed on: 05/05/2025
Source: Northwest Multiple Listing Service (NWMLS)
MLS#: 2373220
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$44,485
Year Built
Built in 2018
Lot Details
0.92 Acre Lot
Partially Fenced Property
Sprinkler System
Property is in good condition
Home Design
Built-Up Roof
Wood Siding
Interior Spaces
40,033 Sq Ft Home
2-Story Property
Vinyl Plank Flooring
Bedrooms and Bathrooms
27 Bedrooms
22 Bathrooms
Parking
23 Parking Spaces
Open Parking
Outdoor Features
Patio
Community Details
No Home Owners Association
Seattle Subdivision
Listing and Financial Details
Assessor Parcel Number 7140300070
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$44,485
Year Built
Built in 2018
Lot Details
0
Listing Details
Property Type: Residential Income
Property Sub Type: Multi Family
StyleCode: 56 - 10+ Units
Year Built: 2018
MLS Status: Pending Inspection
Prev Status: Pending
New Construction: No
CalculatedSquareFootage: 40033
EffectiveYearBuiltSource: Public Records
Special Features: None
Cumulative Days on Market: 47
Interior Features
Possible Use: Multi-Family
Total Bedrooms: 27
Fireplace: No
Flooring: Vinyl Plank
Stories: 2
SquareFootageFinished: 0
SquareFootageUnfinished: 0
BathsFullUpper: 0
BathsHalfUpper: 0
BathsThreeQuarterUpper: 0
BedroomsUpper: 0
Amenities: Storage
Exterior Features
Roof: Built-Up
View: No
Waterfront: No
Construction Type: Wood
Exterior Features: Wood
Property Condition: Good
Structure Type: Multi Family
WaterAccess: Community Waterfront/Pvt Beach
Garage/Parking
Carport Y N: No
Open Parking Spaces: 23
Open Parking: Yes
Total Parking Spaces: 23
ParkingUncoveredSpaces: 23
Utilities
Sewer: Sewer Connected
Water Source: Public
Security: Partially Fenced
Cooling: Ductless
Cooling Y N: Yes
Heating: Ductless
Heating Yn: Yes
PowerCompany: Seattle City Light
SewerCompany: Seattle Public Utility
WaterCompany: Seattle Public utility
WaterSewerGarbage: 38661
Condo/Co-op/Association
Senior Community: No
Association: No
Schools
Junior High Dist: Seattle
Lot Info
Parcel Number: 7140300070
Lot Size Acres: 0.919
Lot Size Sq Ft: 40033
Zoning Description: Multi-Family
Irrigation Water Rights: No
ShowMapLink: true
SiteFeatures: Fenced-Partially,Patio,Sprinkler System
MLSLotSizeSource: King County
Green Features
Power Production Type: Electric
Rental Info
GrossRentMultiplier: 13.62
LeasedItems: None
TotalMonthlyIncome: 32320
Multi Family
Gross Scheduled Income: 406194
Net Operating Income: 249103
Number Of Units Total: 11
Insurance Expense: 7240
Leasable Area: 14450
EnergySource: Electric
UnitsInBuildingTotal: 11
UnitsBelowGrade: false
VacancyRate: 5
Tax Info
Year: 2025
Tax Annual Amount: 44485
Map
Range of Values:
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area
Source: Public Records
Average Home Value in this Area
Source: Public Records
Tax History
Year
Tax Paid
Tax AssessmentTax Assessment
Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property.
Land
Improvement
2024
$4,044
$360,636
$64,500
$296,136
2023
$4,337
$322,300
$62,700
$259,600
2022
$4,290
$397,100
$54,500
$342,600
2021
$4,385
$338,000
$54,500
$283,500
2020
$3,817
$331,180
$45,400
$285,780
2018
$303
$37,000
$36,300
$700
2017
--
$21,271
$21,271
$0
Source: Public Records
Property History
Date
Event
Price
Change
Sq Ft Price
06/04/202506/04/25
Pending
--
--
--
05/27/202505/27/25
Price Changed
$4,700,000
-5.9%
$117 / Sq Ft
05/05/202505/05/25
For Sale
$4,995,000
0.0%
$125 / Sq Ft
12/05/202412/05/24
Price Changed
$2,700
-3.6%
$2 / Sq Ft
12/12/202312/12/23
Price Changed
$2,800
-5.1%
$2 / Sq Ft
10/12/202310/12/23
Price Changed
$2,950
-6.3%
$2 / Sq Ft
09/22/202309/22/23
Price Changed
$3,150
+6.8%
$2 / Sq Ft
08/11/202308/11/23
Price Changed
$2,950
+9.3%
$2 / Sq Ft
08/03/202308/03/23
Price Changed
$2,700
-3.6%
$2 / Sq Ft
06/24/202306/24/23
Price Changed
$2,800
+7.7%
$2 / Sq Ft
06/24/202306/24/23
Price Changed
$2,600
0.0%
$2 / Sq Ft
06/21/202306/21/23
Price Changed
$2,600
0.0%
$2 / Sq Ft
06/21/202306/21/23
For Rent
$2,600
-7.1%
--
06/14/202306/14/23
For Rent
$2,800
0.0%
--
05/18/202305/18/23
Price Changed
$2,800
+7.7%
$2 / Sq Ft
05/09/202305/09/23
Price Changed
$2,600
-7.1%
$2 / Sq Ft
11/03/202211/03/22
Price Changed
$2,800
-3.4%
$2 / Sq Ft
10/31/202210/31/22
Price Changed
$2,900
+3.6%
$2 / Sq Ft
08/12/202208/12/22
Price Changed
$2,800
+7.7%
$2 / Sq Ft
06/07/202206/07/22
For Rent
$2,600
0.0%
--
06/02/202206/02/22
Price Changed
$2,600
-3.7%
$2 / Sq Ft
05/20/202205/20/22
For Rent
$2,700
--
--
Source: Northwest Multiple Listing Service (NWMLS)
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