Queen Anne Duplex
1730 Dexter Ave N, Seattle WA
Property Type Multi-family
Price $1,050,000
Status Active
Property Highlights:
- Operational and renovation value-add. Rents sit well below market, and the remaining renovation work is concentrated in the Unit B kitchen and bath.
- One of the two units is already updated. Unit A has a current kitchen, fresh paint and newer carpet.
- Owner-user opportunity. A buyer can occupy one unit with proper notice under City of Seattle rental law. Unit A is a 3 bed, 1.75 bath home of 1,510 SF with a view deck, and Unit B helps carry the debt.
- Unit A, main and upper floors: kitchen with wood cabinetry, solid surface counters, recessed lighting and a full appliance package. Living room with a fireplace and a slider to a private deck facing Lake Union. Upper floor bath with a glass door shower and wood vanity. Currently $3,125 against $4,700 market.
- Unit B, lower level: 1 bed, 1 bath, 1,010 SF, with a separate entrance and a private fenced yard with mature planting and a territorial outlook. Kitchen with wood cabinetry and laminate counters. The bath is original with a tile tub surround. Bay window in the living room. Currently $1,595 against $2,100 market, the furthest below market of the two.
- In-unit laundry in both units, no shared or coin laundry, and tenants pay their own utilities. Operating expenses run about 28 percent of gross income with no utility line to absorb.
- Roof replaced in 2017. Electrical panels updated to Siemens and Square D, plumbing believed copper, buyer to verify.
- One carport space on site.
- Adjacent parcels separately available: 1722, 1726 and 1732-1734 Dexter Ave N, same ownership, marketed at the same time, all LR3(M).
- A+ location: east-facing slope above Lake Union, with the deck taking in the lake, the Aurora Bridge and the Cascades. Under a mile north of the South Lake Union employment core, with the protected bike lane and frequent buses on Dexter.
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