NOT LISTED FOR SALE

Estimated Value: $1,220,000 - $1,825,000

Studio
-- Bath
2,936 Sq Ft
$537/Sq Ft Est. Value

Last Sold November 17, 2023

Last sale price $1,675,000 $571 Per Sq Ft

Est. 6% decrease in value since last sale

Current estimated payment $9,319/month

11 Days on Market

Highlights

  • Lake View
  • Deck
  • Corner Lot
  • Garfield High School Rated A
  • Engineered Wood Flooring
  • 4-minute walk to Peppi's Playground

About This Home

As of November 2023

Terrace Apartments is a 4-unit apartment building in the sought-after neighborhood of Leschi. It presents an excellent value-add opportunity with massive units averaging 989 SF and underwent a comprehensive remodel of its systems in 1984. The property allows for owner occupancy and immediate renovation of one unit. Current rents are well below market. The 2-2x2 are two levels and have amazing views of Mt Rainier & Lake WA. Located on a corner quiet lot makes it ideal for tenants or owners to live. It’s ideal location is highlighted by its proximity to Leschi Park (a 13-minute walk), Madrona Park (0.8 miles away), easy access to I-90 for quick commutes to the Eastside or Downtown Seattle. An amazing property in an incredible neighborhood!

Last Agent to Sell the Property

Winslow Lee

Kidder Mathews License #136708 Listed on: 10/06/2023

Last Buyer's Agent

Winslow Lee

Kidder Mathews License #136708 Listed on: 10/06/2023

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2168993

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,212

Year Built

  • Built in 1901

Lot Details

  • 6,000 Sq Ft Lot
  • Partially Fenced Property
  • Corner Lot
  • Property is in very good condition

Property Views

  • Lake
  • City
  • Mountain
  • Territorial

Home Design

  • Quadruplex
  • Poured Concrete
  • Composition Roof
  • Wood Composite

Flooring

  • Engineered Wood
  • Laminate

Parking

  • 2 Parking Spaces
  • Open Parking

Outdoor Features

  • Deck
  • Patio

Additional Features

  • 4-Story Property
  • Forced Air Heating System

Community Details

  • No Home Owners Association
  • Leschi Subdivision

Listing and Financial Details

  • Assessor Parcel Number 9363600154

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,212

Year Built

Built in 1901

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 54 - 4-Plex
  • Year Built: 1901
  • Buyer Agency Compensation: 2
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 0
  • EffectiveYearBuiltSource: Public Records
  • SOCComments: 2%
  • Special Features: VirtualTour

Interior Features

  • Possible Use: Multi-Family, Residential
  • Fireplace: No
  • Flooring: Engineered Hardwood, Laminate
  • Interior Amenities: Laminate Tile
  • Stories: 4
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Basement,Coin Op Laundry,Storage

Exterior Features

  • Roof: Composition
  • View: City, Lake, Mountain(s), Territorial
  • Lot Features: Corner Lot, Curbs, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood Products
  • Foundation Details: Poured Concrete
  • Property Condition: Very Good
  • Structure Type: Quadruplex

Garage/Parking

  • Carport Y N: No
  • Open Parking: Yes
  • Total Parking Spaces: 2

Utilities

  • Sewer: Sewer Connected
  • Security: FullyFenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Forced Air
  • Heating Yn: Yes
  • PowerCompany: Seattle Light
  • SewerCompany: SPU
  • WaterCompany: SPU

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 1646

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 9363600154
  • Lot Size Acres: 0.1377
  • Lot Size: 6000
  • Lot Size Sq Ft: 6000
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Deck,Fenced-Partially,Patio,Shop
  • MLSLotSizeSource: King County Pacel Viewer
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family,Residential

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 55
  • LeasedItems: None
  • TotalMonthlyIncome: 5018

Tax Info

  • Year: 2023
  • Tax Annual Amount: 11212
  • AdditionalTaxIds: 936360-0154

Multi Family

  • Number Of Units Total: 4
  • Electric Expense: 1645
  • EnergySource: Electric
  • UnitsBelowGrade: false

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 18, 2025
Sold by
Bohannan Emily
Bought by
Medawar Christopher A
Current Estimated Value
$1,576,292

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,400,000
Outstanding Balance
$1,400,000
Interest Rate
5.63%
Mortgage Type
New Conventional
Estimated Equity
$176,292

Purchase Details

Listed on
Oct 6, 2023
Closed on
Nov 16, 2023
Sold by
Thomsen Brogan
Bought by
326 Cam Llc
Seller's Agent
Winslow Lee
Kidder Mathews
Buyer's Agent
Winslow Lee
Kidder Mathews
List Price
$1,900,000
Sold Price
$1,675,000
Premium/Discount to List
-$225,000
-11.84%
Views
9

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-2.76%
Original Mortgage
$1,172,500
Interest Rate
7.88%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 13, 1997
Sold by
Terrace Venture Ltd Partnership
Bought by
Thomsen Brogan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$171,000
Interest Rate
7.86%

Purchase Details

Closed on
Jan 15, 1993
Sold by
Thomsen Thomsen F and Thomsen Gretchen K
Bought by
Thomsen_Brogan
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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

Purchase History

Date Buyer Sale Price Title Company
Medawar Christopher A $313 None Listed On Document
Medawar Christopher A $313 None Listed On Document
326 Cam Llc $1,673,000 Stewart Title Guaranty Company
Thomsen Brogan $64,932 First American Title Ins Co
Thomsen_Brogan -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Medawar Christopher A $1,400,000
Previous Owner 326 Cam Llc $1,172,500
Previous Owner Thomsen Brogan $171,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/17/2023 11/17/23 Sold $1,675,000 -11.8% $571 / Sq Ft
10/17/2023 10/17/23 Pending -- -- --
10/06/2023 10/06/23 For Sale $1,900,000 -- $647 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax 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 $12,915 $1,312,000 $828,000 $484,000
2023 $12,460 $1,290,000 $828,000 $462,000
2022 $11,943 $1,284,000 $600,000 $684,000
2021 $13,218 $1,274,000 $600,000 $674,000
2020 $12,224 $1,350,000 $540,000 $810,000
2018 $11,034 $1,204,000 $450,000 $754,000
2017 $10,179 $1,099,000 $390,000 $709,000
2016 $8,509 $1,049,000 $390,000 $659,000
2015 $6,885 $851,000 $390,000 $461,000
2014 -- $700,000 $390,000 $310,000
2013 -- $684,000 $390,000 $294,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2168993

Northwest Multiple Listing Service (NWMLS)

APN: 936360-0154