Listed by Kidder Mathews
$4,600,000

401 NE 40th St Seattle, WA 98105

Wallingford Neighborhood

Estimated payment $27,805/month

Total Views 5,230
21 Beds
18 Baths
15,433 Sq Ft
$298 Price per Sq Ft

Highlights

  • Lake View
  • 0.24 Acre Lot
  • No HOA
  • Hamilton International Middle School Rated A
  • Corner Lot
  • 4-minute walk to Peace Park

About This Home

A well maintained Multi-family asset in Seattle's walkable Wallingford neighborhood, one of the city's most coveted communities. Situated on a corner lot, the property is steps away from Lake Union, Gas Works Park and Burke Gilman Trail. On the market for the first time, featuring 15 units averaging 828 square feet. Most units offer views of Lake Union and all features large balconies. Secure entry, durable copper supply plumbing, cast iron drains and updated Square D electrical subpanels. 20 parking spaces (6 covered) large resident storage room and common laundry on two floors. A 5.3% cap rate on rents as of February 2026 (increase notice already sent) and current expenses with upside.

Listing Agent

Dan Swanson

Kidder Mathews License #13533 Listed on: 09/12/2025

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2433143

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $44,158

Year Built

  • Built in 1964

Lot Details

  • 10,664 Sq Ft Lot
  • Corner Lot

Property Views

  • Lake
  • City
  • Canal
  • Territorial

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Wood Siding
  • Stucco

Interior Spaces

  • 15,433 Sq Ft Home
  • 3-Story Property
  • Thermal Windows

Bedrooms and Bathrooms

  • 21 Bedrooms
  • 18 Bathrooms

Parking

  • 20 Parking Spaces
  • Open Parking

Schools

  • Green Lake Elementary School
  • Hamilton Mid Middle School
  • Lincoln High School

Utilities

  • Baseboard Heating

Community Details

  • No Home Owners Association
  • Wallingford Subdivision

Listing and Financial Details

  • Assessor Parcel Number 4206900915

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$44,158

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1964
  • MLS Status: Active
  • Prev Status: Active
  • New Construction: No
  • CalculatedSquareFootage: 15433
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Total Bedrooms: 21
  • Fireplace: No
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry,Storage,Thermal Windows

Exterior Features

  • Roof: Flat
  • View: Canal, City, Lake, Territorial
  • Lot Features: Corner Lot, Curbs, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Construction Type: Brick, Stucco, Wood
  • Exterior Features: Brick, Stucco, Wood
  • Structure Type: Multi Family

Garage/Parking

  • Carport Spaces: 6
  • Carport Y N: No
  • Open Parking: Yes
  • Total Parking Spaces: 20

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Seattle
  • High School: Lincoln High
  • Middle Or Junior School: Hamilton Mid

Lot Info

  • Parcel Number: 4206900915
  • Lot Size Acres: 0.2448
  • Lot Size Sq Ft: 10664
  • Zoning Description: Multi-Family
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • MLSLotSizeSource: King County
  • ZoningJurisdiction: City

Green Features

  • Efficiency: Thermal Windows
  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 12.1
  • LeasedItems: Washer/Dryer
  • TotalMonthlyIncome: 31766

Tax Info

  • Year: 2025
  • Tax Annual Amount: 44158

Multi Family

  • Number Of Units Total: 15
  • EnergySource: Electric
  • UnitsBelowGrade: false

MLS Schools

  • Elementary School: Green Lake

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/02/2025 12/02/25 For Sale $4,600,000 0.0% $298 / Sq Ft
11/30/2025 11/30/25 Off Market $4,600,000 -- --
09/12/2025 09/12/25 For Sale $4,600,000 -- $298 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2433143

Northwest Multiple Listing Service (NWMLS)
Washington King County Seattle 98105 Wallingford

401 NE 40th St, Seattle, WA

For Sale

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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Dan Swanson
Listing Agent
Dan Swanson
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Kidder Mathews
(206) 561-9334