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1527 NE 150th St
Seattle, WA 98155
Northgate · Multifamily Property For Sale
·
6 Units
Investment Highlights
- Seller financing available
- Renovation value-add opportunity
- 5 Townhome units featuring 3 bedroom, 1.5 bathroom layouts averaging 1,116 SF plus a detached 857 SF SFH
- All units have in-unit W/D
Executive Summary
Financials listed are Proforma. Shoreline Townhomes + SFH is a 6-unit investment opportunity located at 1527–1529 NE 150th Street in Shoreline, Washington. The property includes five 3-bedroom, 1.5-bathroom townhome units and one detached 2-bedroom, 1-bathroom single-family home, totaling 6,437 rentable square feet. Seller financing is available to qualified buyers at an attractive 4.5% interest-only rate with a 5-year term and 25% down payment. The investment presents a compelling value-add opportunity through a renovation program combined with favorable financing. Current rents average $1,101 per unit, approximately 50% below market rates for comparable Shoreline properties. By implementing upgrades and leveraging Washington State RCW statutes (59.18.200, 59.18.650, 59.18.440), tenants may be relocated with proper 120-day notice for permitted renovations. Upon completion, projected rents could increase scheduled gross income by over 90% at stabilized market levels. The property benefits from a strong location within Shoreline, with proximity to highly regarded schools including Shorecrest High School, Kellogg Middle School, Briarcrest Elementary, and Shoreline Christian School, all within one mile. This location supports long-term tenant demand and sustained rental growth.
Property Facts Under Contract
| Price Per Unit | $266,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 5.97% | Building Size | 6,437 SF |
| No. Units | 6 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1977 |
| Apartment Style | Low-Rise | Parking Ratio | 1.86/1,000 SF |
| Zoning | NR1 | ||
| Price Per Unit | $266,667 |
| Sale Type | Investment |
| Cap Rate | 5.97% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 6,437 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 1.86/1,000 SF |
| Zoning | NR1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,000 | 857 |
| 3+1.5 | 5 | $2,200 | 1,116 |
Property Taxes
| Parcel Number | 367050-0095 | Improvements Assessment | $446,900 |
| Land Assessment | $1,054,100 | Total Assessment | $1,501,000 |
Property Taxes
Parcel Number
367050-0095
Land Assessment
$1,054,100
Improvements Assessment
$446,900
Total Assessment
$1,501,000
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