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3807 Linden Ave N - Fremont Triplex 3 Unit Apartment Building Offered at $1,000,000 at a 4.95% Cap Rate Seattle, WA 98103
INVESTMENT HIGHLIGHTS
- Huge potential for an amazing owner's unit
- Large corner lot zoned LR3 (M1)
- Two garages - rare for properties in Seattle's core
- Opportunity to renovate all units and bring rents to market
- Quick access to major employment centers (SLU, Fremont, Downtown)
- Property is currently vacant - Great opportunity to renovate immediately
EXECUTIVE SUMMARY
Well-located three-unit multifamily asset in the heart of Seattle’s Fremont neighborhood. This unique property presents substantial rental upside through interior renovations and layout optimization. The property features three spacious units — a 3BD/1BTH main-floor unit with a garage and deck, a 2BD/1BTH lower unit with a deck, and a 1BD/.75BTH unit with an attached garage. The lower level 2BD/1BTH includes unfinished space that can be incorporated into the existing units or converted for additional amenity use. Currently this unfinished space contains a washer/dryer for the use of the 2BD and 1BD unit. Each unit benefits from strong natural light and west-facing decks.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$49,486
|
$14.64
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $49,486 |
| Annual Per SF | $14.64 |
PROPERTY FACTS Under Contract
| Price | $1,000,000 | Property Type | Multifamily |
| Price Per Unit | $333,333 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Size | 3,380 SF |
| Cap Rate | 4.95% | No. Stories | 1 |
| No. Units | 3 | Year Built | 1954 |
| Zoning | LR3 (M1) | ||
| Price | $1,000,000 |
| Price Per Unit | $333,333 |
| Sale Type | Investment |
| Cap Rate | 4.95% |
| No. Units | 3 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Building Size | 3,380 SF |
| No. Stories | 1 |
| Year Built | 1954 |
| Zoning | LR3 (M1) |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,650 | 700 |
| 2+1 | 1 | $2,100 | 1,000 |
| 3+1 | 1 | $2,450 | 1,610 |
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Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (74)
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