$8,140,000
SOLD AUG 22, 2024
59 Beds
-- Bath
20,587 Sq Ft
0.3 Acres

Recently Sold

$395 Per Sq Ft

9% Below List Price

39 Days on Market

Highlights

  • 0.3 Acre Lot
  • No HOA
  • Gated Home
  • Hamilton International Middle School Rated A
  • Baseboard Heating
  • 3-minute walk to Christie Park

About This Home

As of August 2024

Maplewood offers a 24-unit value-add apartment building located in the highly sought-after University District of Seattle.Offered for sale at $8.9 million, this property is on the market for the first time and presents a unique chance to acquire a legacy asset that has been meticulously maintained by the same family since 1985.Maplewood features large units in exceptional condition, providing ample potential for value-add renovations.After light renovations, rental rates can increase by 20% or more, making this property an attractive prospect for savvy investors. Located steps away from the prestigious University of Washington-ranked #2 in the U.S.Maplewood is just minutes away from an abundance amenities, and a regional light rail station.

Last Agent to Sell the Property

Max Frame

Kidder Mathews License #130533 Listed on: 05/13/2024

Last Buyer's Agent

Max Frame

Kidder Mathews License #130533 Listed on: 05/13/2024

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2236772

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $77,262

Year Built

  • Built in 1985

Lot Details

  • 0.3 Acre Lot
  • Gated Home
  • Property is in very good condition

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Poured Concrete
  • Stucco

Interior Spaces

  • 20,587 Sq Ft Home
  • 4-Story Property

Flooring

  • Wall to Wall Carpet
  • Laminate

Parking

  • 27 Parking Spaces
  • 23 Covered Spaces
  • Open Parking

Utilities

  • Baseboard Heating

Community Details

  • No Home Owners Association
  • University District Subdivision

Listing and Financial Details

  • Assessor Parcel Number 4092300780

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$77,262

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1985
  • Buyer Agency Compensation: 1
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 20587
  • EffectiveYearBuiltSource: Public Records
  • SOCComments: 1%
  • Special Features: VirtualTour
  • Cumulative Days on Market: 356

Interior Features

  • Possible Use: Multi-Family
  • Possible Bedrooms: 59
  • Fireplace: No
  • Flooring: Laminate, Carpet
  • Interior Amenities: Laminate Tile, Wall to Wall Carpet
  • Stories: 4
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry

Exterior Features

  • Roof: Flat
  • Lot Features: Curbs, Sidewalk
  • View: No
  • Waterfront: No
  • Exterior Features: Brick, Stucco
  • Foundation Details: Poured Concrete
  • Property Condition: Very Good
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 23
  • Open Parking Spaces: 4
  • Open Parking: Yes
  • Total Parking Spaces: 27
  • ParkingUncoveredSpaces: 4

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: SecurityGate
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • PowerCompany: PSE
  • SewerCompany: SPU
  • WaterCompany: SPU
  • WaterSewerGarbage: 12400

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 12400

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 4092300780
  • Lot Size Acres: 0.299
  • Lot Size: 13025
  • Lot Size Sq Ft: 13025
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Gated Entry
  • MLSLotSizeSource: KCPV
  • MLSSquareFootageSource: KCPV
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 16
  • LeasedItems: Washer/Dryer
  • TotalMonthlyIncome: 739200

Multi Family

  • Gross Scheduled Income: 698544
  • Net Operating Income: 535378
  • Number Of Units Total: 5
  • Electric Expense: 12400
  • Insurance Expense: 9600
  • Leasable Area: 20587
  • EnergySource: Electric
  • UnitsInBuildingTotal: 24
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2024
  • Tax Annual Amount: 77262
  • AdditionalTaxIds: 4092300780

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Range of Values:

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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 Change Sq Ft Price
07/15/2025 07/15/25 Price Changed $2,799 +20.4% $3 / Sq Ft
07/10/2025 07/10/25 Price Changed $2,325 +29.2% $2 / Sq Ft
05/07/2025 05/07/25 Price Changed $1,799 -22.6% $2 / Sq Ft
05/01/2025 05/01/25 Price Changed $2,325 -26.2% $2 / Sq Ft
04/26/2025 04/26/25 Price Changed $3,150 +13.5% $3 / Sq Ft
04/18/2025 04/18/25 Price Changed $2,775 -3.5% $3 / Sq Ft
03/31/2025 03/31/25 Price Changed $2,875 +30.7% $3 / Sq Ft
03/07/2025 03/07/25 Price Changed $2,200 +4.8% $2 / Sq Ft
01/14/2025 01/14/25 Price Changed $2,100 -12.5% $2 / Sq Ft
01/03/2025 01/03/25 Price Changed $2,400 +14.3% $2 / Sq Ft
12/19/2024 12/19/24 Price Changed $2,100 -25.7% $2 / Sq Ft
11/13/2024 11/13/24 Price Changed $2,825 -1.7% $3 / Sq Ft
10/24/2024 10/24/24 Price Changed $2,875 +36.9% $3 / Sq Ft
09/24/2024 09/24/24 Price Changed $2,100 -22.2% $2 / Sq Ft
09/10/2024 09/10/24 Price Changed $2,700 0.0% $3 / Sq Ft
08/22/2024 08/22/24 Sold $8,140,000 0.0% $395 / Sq Ft
08/16/2024 08/16/24 Price Changed $2,875 -10.2% $3 / Sq Ft
08/15/2024 08/15/24 Price Changed $3,200 +131.9% $3 / Sq Ft
08/14/2024 08/14/24 For Rent $1,380 0.0% --
06/21/2024 06/21/24 Pending -- -- --
05/13/2024 05/13/24 For Sale $8,900,000 -- $432 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2236772

Northwest Multiple Listing Service (NWMLS)