Incredibly well-maintained 5-unit in the heart of Fremont with historically low vacancy rate and rental upside! Four large 2 bd/1.5 bth units and one 1 bd/1 bth unit averaging over 1,030 SF. All units feature in-unit W/D, dishwasher, dining area off kitchen, deck or patio, and off-street parking. The light filled units also have large rooms, tons of storage, and double pane windows. 3 of the 5 units have updated kitchens/bathrooms. Phenomenal location, on a bus line, and just blocks to Burke-Gilman Trail and the Center of the Universe! Excellent investment as-is -- plus the opportunity for an owner-user to occupy one unit while collecting income from the other four units. Please do not disturb tenants. Rents and expenses shown are actual.
Last Agent to Sell the Property
Windermere Real Estate Midtown License #83586 Listed on: 01/08/2025
Source: Northwest Multiple Listing Service (NWMLS)
MLS#: 2320835
Home Type
Est. Annual Taxes
Year Built
Lot Details
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Home Design
Interior Spaces
Flooring
Bedrooms and Bathrooms
Parking
Outdoor Features
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Community Details
Listing and Financial Details
$1,950,000
Located in the heart of Queen Anne, 554 Prospect offers a rare opportunity to own a fully-renovated five-unit building in one of Seattle’s most desirable neighborhoods. The unit mix includes one studio, two 2-bedrooms, and two 2-bedroom + den layouts, each upgraded in a 2013 studs-out renovation. Modern amenities include in-unit laundry and private storage units. Walkable to Seattle Center, the
Samantha Shelton SJA Real Estate
$2,160,000
Originally constructed in 1931, Elliott View showcases classic architectural character with a timeless brick façade and sits on a 6,400 SF lot zoned LR3(M), providing potential long-term development upside. The unit mix includes 7 well proportioned 1-bed units averaging 569 SF and a spacious 2-bed unit totaling approx. 900 SF. Many units enjoy views of the downtown skyline, and 5 have been
Curran Hagstrom Westlake Associates, Inc.
$2,100,000
Updated Rents & Cap Rate!! Turnkey 6-Unit Investment in Prime Ballard Location! This well-maintained multifamily property offers strong rental upside and the potential to add an additional unit for even more value. This low-maintenance gem is perfect for investors seeking long-term growth. New water heaters, fresh exterior paint & lighting; all units have new flooring, paint & updates throughout.
Megan Green FIRST AND MAIN
$1,490,000
Prime Multi-Family Investment in the Heart of the vibrant University District! Just blocks from the University of Washington, with easy access to the U District Link light rail station, local shops, diverse dining, and the popular farmers market. The property features six income-producing units, each with its own 100-AMP panel, separate electric meter, and updated plumbing. All utilities are paid
Patrick Johnson CENTURY 21 North Homes Realty
$1,895,000
Boutique 6-unit apartment building in Capitol Hill featuring a desirable mix of studio, 1- and 2-bedroom units. On-site laundry and storage space, with added potential to convert space for in-unit washer/dryer installations in additional units. Copper, PVC and Galvanized Plumbing. All electrical panels in units and main panel replaced in April 2025. Value add potential with 22%+ upside in rental
Reid Jones Westlake Associates, Inc.
$1,400,000
The Midvale Apartments offer an investor the opportunity to acquire a stable, well-maintained property with immediate income upside in a location that is convenient and ripe for growth. Built in 1996, the building features newer systems and large, moderns floorplans with complete appliance packages and in-unit washer/dryers. The building features (4) 2bd/1.5bth two-story “townhouse” units, (1)
Ryan Iles Paragon Real Estate Advisors
$2,018,000
Beyond the English laurel and torii gate, this 5,500 SF Federal Avenue style colonial revival found new life under the meticulous care of its carpenter-owner as Laurel Gate—8 distinctive apartments. Relish 124-yr-old fir floors, balconies, exposed brick fireplaces, fanciful attic lofts and repurposed wood details throughout. Each home reveals a bespoke layout brimming with character to bring in
Edward Krigsman Windermere Real Estate Co.
$1,600,000
Separate tax ID's so can sell individually. Well located 3 units in rapidly improving area. Floor to ceiling windows throughout. Light filled great room with chef's kitchen, eating/breakfast bar. Comfortable, sensible, flexible floorplan. Primary bedroom on the third level offers a private retreat, rooftop deck plumbed for gas grill, features sweeping territorial views. Originally built as
Mike Fuchigami RE/MAX All City
$1,875,000
Newly remodeled 10 unit apartment complex with courtyard and patios, parking for 5 cars on site, coin-operated laundry and storage. All units were completely remodeled in 2017-2019: new floors, kitchens, bathrooms, paint. Building has a new roof (2019), fresh paint (2024), gated access. Fully occupied and well maintained with 0% vacancy and excellent financials. RRIO inspection has been
Elena Karpova Torre Realty
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 02/19/2025 02/19/25 | Sold | $1,806,000 | +6.2% | $286 / Sq Ft |
| 01/20/2025 01/20/25 | Pending | -- | -- | -- |
| 01/08/2025 01/08/25 | For Sale | $1,700,000 | -- | $269 / Sq Ft |
Seller's Agent in 2025
Lauren Hendricks
Windermere Corporate
(425) 406-0808
4 in this area
51 Total Sales
Buyer's Agent in 2025
Tim McQuery
KW Mountains to Sound Realty
(206) 940-0351
1 in this area
139 Total Sales
Source: Northwest Multiple Listing Service (NWMLS)
MLS Number: 2320835
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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. ©2025 NWMLS.