$1,216,800

Property Description

Investor-Ready Cash-Flowing Triplex in Meadowbrook's LR3(M) Growth Zone Fully stabilized 1960 triplex in northeast Seattle's Meadowbrook neighborhood. Each of the three identical 3-bed/1-bath units is 1,100 SF and leased through 2026-2028. Tenants pay all utilities (electric directly; sewer/water/garbage via RUBS). Each unit has separate laundry, and the property includes seven off-street parking spaces. Capital Improvements (2019-2026): New SquareD panels, GFCI bath/kitchen upgrades, dedicated appliance/bath circuits, targeted heater replacements, PEX refit in Apts. A/C, bathtub re-plumbing, new toilets, new water heaters, new carpet/vinyl flooring, newer kitchen/bath cabinets, appliances, window coverings, interior paint, redirected drainage, and vinyl windows. Deferred maintenance addressed; capex schedule available. Location & Zoning Upside: Meadowbrook (98125) offers residential character and LR3(M) density upside. Rapid bus lines are within a 5-minute walk, Northgate light rail is about a 10-minute drive, and the Burke-Gilman Trail is nearby. Lake City Way adds nearby retail and dining convenience. Target Buyer: Small investor seeking stable cash flow or portfolio buyer consolidating LR3(M)-zoned assets. Clean title, clean books, clean systems. Boundary survey completed in 2018, adding due diligence value.

Property Facts & Features

Property Type

Multi Family

Status

Active

Listed

Mar 9, 2026

Price per Sq Ft

$360/sqft

ZIP Code

98125

Heating

Baseboard

Property Tax (2026)

$11,585/yr

Assessed Value

$1,070,000

Last Sold

$1,050,000 · Jun 10, 2019

Neighborhood

Cedar Park

County

King

School District

Seattle Public Schools

Features & Amenities

Location

Lat 47.71801 · Lng -122.29196