Listing
$1,199,000
1612 N••••• 38th St (Sign up for 50 free credits to unlock)Seattle, WA 98103
Property Description
Exceptional Investment Opportunity in Desirable Wallingford! This conveniently located legal duplex offers outstanding flexibility, strong rental income, and long-term investment potential-ideal for investors, owner-occupants, or multi-generational living. Generating $79,200 in actual annual rental income, with a projected NOI of $64,220 and a 5.36% cap rate, the property benefits from low operating expenses, with tenants paying all utilities and the owner responsible only for property taxes and insurance. No HOA fees! Live in one unit and rent the other, or enjoy the established rental income. Previously operated as an Airbnb, offering additional potential (buyer to verify eligibility). Each unit is separately metered with its own tankless water heater. Recent improvements and desirable features include a new roof, off-street parking, basement storage, a stone patio, and a private fenced backyard. Enjoy impressive Seattle skyline views from both units! The upper unit features double French doors opening to a balcony, while the lower unit offers a charming wrap-around porch. Ideally situated minutes from I-5, the University of Washington, Gas Works Park, John Stanford International School, and other highly regarded schools. A rare opportunity to own an income-producing duplex in one of Seattle's most sought-after neighborhoods! Offered at $1,199,000 | 5.36% Cap Rate | $79,200 Annual Rental Income.
Property Facts & Features
- Property Type
- Single Family
- Status
- Active
- Listed
- Oct 8, 2026
- Price per Sq Ft
- $648/sqft
- ZIP Code
- 98103
- Full Baths
- 2
- Half Baths
- 1
- Stories
- 2
- Parking
- Driveway Parking, Off Street
- Heating
- Forced Air
- Construction
- Brick, Wood Products, Brick, Wood Products
- Property Tax (2026)
- $11,350/yr
- Assessed Value
- $1,096,000
- Last Sold
- $1,085,000 · May 23, 2024
- Neighborhood
- North Central
- County
- King
- School District
- Seattle Public Schools
Estimated Value
Automated estimate. Not an appraisal.
Features & Amenities
Bedrooms
- Bedrooms: 6
- Bedrooms On Lower Level: 3
- Bedrooms On Upper Level: 3
- Bedroom 1 Level: Lower
- Bedroom 2 Level: Lower
- Bedroom 3 Level: Lower
- Bedroom 4 Level: Second
- Bedroom 5 Level: Second
- Bedroom 6 Level: Second
Bathrooms
- Total Bathrooms: 2.5
- Full Bathrooms: 2
- 1/2 Bathrooms: 1
- Full Bathrooms On Lower Level: 1
- Half Bathrooms On Lower Level: 1
- Full Bathrooms On Upper Level: 1
Land Info
- Land Lease: No
- Lot Description: Paved, Sidewalk
- Lot Size Acres: 0.0551
- Lot Size Dimensions: 40 x 60
- Lot Size Square Feet: 2400
Utilities
- Power Production Type: Electric, Natural Gas
- Sewer: Sewer Connected
- Water Source: Public
Appliances
- Tankless Water Heater
Other Rooms
- Bathroom - Full Level: Lower
- Bathroom - Full Level: Second
- Bathroom - Half Level: Lower
Home Features
- View: Territorial
- Security Features: Fully Fenced
Interior Features
- Flooring: Ceramic Tile, Engineered Hardwood, Wall to Wall Carpet
Garage and Parking
- Covered Spaces: 0
- Open Parking: No
- Parking Features: Driveway Parking, Off Street
- Parking Total: 1
School Information
- Elementary School: John Stanford Intl
- High School: Lincoln High
- High School District: Seattle
- Middle School: Hamilton Mid
- School District: Seattle
Heating and Cooling
- Heating Features: Forced Air
- Heating Fuel: Electric,Natural Gas
- Heating: Yes
- Number of Fireplaces: 0
Other Property Info
- Annual Tax Amount: 9063
- Source Listing Status: Active
- County: King
- Directions: GPS. From NE 45th St: Head South on Wallingford Ave N, West on N 38th St, straight around the roundabout at Densmore to the home on the right.
- Tax Year: 2025
- Area: 705 - Ballard/Greenlake
- List Development Name: Wallingford
- Source Neighborhood: Wallingford
- Parcel Number: 4083303885
- Subdivision: Wallingford
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
Building and Construction
- Total Square Feet Living: 1850
- Year Built: 1902
- Building Area Total: 1850
- Building Area Units: Square Feet
- Construction Materials: Brick, Wood Products, Brick, Wood Products
- Foundation Details: Pillar/Post/Pier, Poured Concrete
- Levels: Two
- Property Age: 124
- Property Condition: Good
- Roof: Composition
- Levels or Stories: Two
- Structure Type: House
- House Style: 2 Story
- Total Area Sqft: 1850
- Elevation Units: Feet
Exterior and Lot Features
- Deck
- Fenced-Fully
- Gas Available
- Patio
- Patio: Yes
- Deck: Yes
Location
Lat 47.65334 · Lng -122.33804