Log In/Sign Up
Your email has been sent.
401 NE 40th St
Seattle, WA 98105
Golden Manor · Multifamily Property For Sale
·
15 Units
Investment Highlights
- Excellent Wallingford location – Steps to Lake Union and Gas Works Park
- 20 parking spaces (6 covered), large resident storage room, common laundry rooms on two floors
- First time on the market
- 15 units averaging 828 SF with large balconies, and many boasting views of Lake Union
- Copper supply plumbing and cast iron drains, square D electrical subpanels, midcentury design, secured entry
- Corner lot
Executive Summary
A well-maintained multifamily asset in Seattle’s walkable Wallingford neighborhood, one of the city’s most coveted communities. Situated on a corner lot, the property is steps from Lake Union, Gas Works Park, and Burke-Gilman Trail. On the market for the first time, featuring 15 units averaging 828 square feet. Most units offer views of Lake Union, and all feature large balconies. Secure entry, durable copper supply plumbing, cast iron drains, and updated Square D electrical subpanels. 20 parking spaces (6 covered), large resident storage room, and common laundry on two floors. A 5.3% cap rate on rents as of February 2026 (increase notice already sent) and current expenses with upside.
Property Facts
| Price Per Unit | $306,667 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.29% | Lot Size | 0.24 AC |
| Gross Rent Multiplier | 12.1 | Building Size | 15,433 SF |
| No. Units | 15 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.3/1,000 SF |
| Zoning | LR3 (M) | ||
| Price Per Unit | $306,667 |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| Gross Rent Multiplier | 12.1 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 15,433 SF |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 1.3/1,000 SF |
| Zoning | LR3 (M) |
Amenities
Unit Amenities
- Dishwasher
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Deck
- Double Pane Windows
Site Amenities
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | $1,753 | 780 |
| 2+1 | 3 | $2,478 | 900 |
| 2+2 | 3 | $2,368 | 900 |
Property Taxes
| Parcel Number | 420690-0915 | Improvements Assessment | $2,032,400 |
| Land Assessment | $2,772,600 | Total Assessment | $4,805,000 |
Property Taxes
Parcel Number
420690-0915
Land Assessment
$2,772,600
Improvements Assessment
$2,032,400
Total Assessment
$4,805,000
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Contact the Sale Advisor
Golden Manor | 401 NE 40th St