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3637 Woodlawn Ave N
Seattle, WA 98103
Fremont Triplex · Multifamily Property For Sale
·
3 Units


Investment Highlights
- First time on the market in over 60 years
- All copper plumbing, double pane vinyl windows, and electric baseboard heat
- Common laundry room with space to add in-unit washers and dryers
- Owner user opportunity: Unit 3638 is vacant and staged
- Five parking spaces including one covered stall
Executive Summary
First time on the market in over 60 years. Built in 1962 by the current owner's grandfather and held in the same family ever since, this three-unit apartment building sits on a quiet residential street between the Fremont and Wallingford commercial cores. Two 2-bedroom units and one 3-bedroom unit total 3,900 gross square feet on a 5,558 square foot NR3 lot. Units are generous and townhouse-style, averaging over 1,200 square feet, with the largest at 1,490. Two units have interior staircases leading to private storage and the common laundry room. Building systems are sound: all copper plumbing, double-pane vinyl windows and electric baseboard heat. The south elevation was resided and the whole building painted approximately six years ago. The pitched torch-down roof is approximately 30 years old and has been maintained annually. Clear path to add value: kitchens and baths are original and ready for updating, and there is space to add in-unit washers and dryers. Five parking spaces including one covered stall. One unit is currently vacant and staged, equally suiting an owner-user who wishes to occupy one unit and improve the balance of the building over time. Walk to Gas Works Park, the Burke-Gilman Trail and the ship canal, with quick access to the Google and Adobe campuses, South Lake Union and downtown Seattle.
Property Facts Under Contract
| Price Per Unit | $466,667 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Size | 3,900 SF |
| Cap Rate | 3.31% | No. Stories | 2 |
| No. Units | 3 | Year Built | 1962 |
| Property Type | Multifamily | Parking Ratio | 1.28/1,000 SF |
| Zoning | NR3 | ||
| Price Per Unit | $466,667 |
| Sale Type | Investment |
| Cap Rate | 3.31% |
| No. Units | 3 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Building Size | 3,900 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.28/1,000 SF |
| Zoning | NR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,175 | 975 - 1,160 |
| 3+1 | 1 | $2,400 | 1,490 |
Property Taxes
| Parcel Number | 408330-5935 | Improvements Assessment | $660,000 |
| Land Assessment | $925,000 | Total Assessment | $1,585,000 |
Property Taxes
Parcel Number
408330-5935
Land Assessment
$925,000
Improvements Assessment
$660,000
Total Assessment
$1,585,000
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