1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
1401 W Bertona ST, Seattle, WA 98119
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Christina Ludeman

Christina Ludeman

+1(253) 906-1982
Listed by:Paragon Real Estate Advisors • Michael Urquhart
$ 2,550,000
Est. payment | /mo

12 Beds

8 Baths

5,895 SqFt

Save
$ 2,550,000
Est. payment | /mo
Save

12 Beds

8 Baths

5,895 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,895 sqft

Price per Sqft $432

Subdivision Queen Anne

MLS Listing ID 2531266

Style 55 - 5-9 Units

Bedrooms 12

Year Built 1925

Annual Tax Amount $23,139

Lot Size 8,400 Sqft

Property Sub-Type Multi Family

Property Description

Presenting the Fairseas Apartments, an eight unit multifamily property in the North Queen Anne neighborhood of Seattle. The asset delivers a 5.8% current cap rate on day one—a stabilized, high income-producing return in a submarket where most comparable listings are priced at sub-5.25% current yields. Six of the eight units have been fully renovated with market-quality finishes, including four 2BD/1BTH, one 1BD/1BTH, and one 1BD+Den/1BTH. The two original 1BD/1BTH units are occupied by long-term tenants paying below-market rents, representing significant upside to bring them to the same finish and rent tier as the rest of the building—without touching the renovated units or stabilized income. In-place renovated rents already reach $1,800 on the one bedroom, validating the finish level. The building also features a new Durolast roof and a full exterior refresh (paint, lighting, signage) within the last three years. It sits on an 8,400 SF LR3 RC (M) zoned lot with 12 on-site parking stalls in a walkable location: a short walk to Seattle Pacific University, the RapidRide D Line, and the retail and dining on 15th Avenue West, with direct commuter access to South Lake Union, Downtown Seattle, Ballard, and Fremont. North Queen Anne continues to benefit from supply-constrained multifamily stock and durable renter demand tied to SPU, the Fishermen's Terminal maritime cluster, and the Fremont tech corridor.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Laminate, Vinyl

Fireplace false

Exterior

Exterior Feature Brick, Wood Products

View Y/N No

Roof Type Flat

Building

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Locations

Christina Ludeman
Christina Ludeman

Broker Associate | License ID: 115583

+1(253) 906-1982 | christinaludeman@hawkinspoe.com

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1401 W Bertona ST