441 NE Alder St 2 Unit Apartment Building Offered at $2,200,000 at a 3.20% Cap Rate Issaquah, WA 98027

Situated on a quiet, tree-lined residential street just blocks from Downtown Issaquah, the property offers an exceptional walkable and bikeable location with convenient access to nearby shops, dining, parks, and everyday amenities. Residents also benefit from easy regional connectivity via Interstate 90, providing quick access to major employment centers in Bellevue and Seattle.
Constructed in 1998, the property features modern construction and has been fully remodeled to custom home specifications (2024), offering a level of quality and finish rarely found in duplex properties. The building consists of two oversized condominiumized units, each approximately 1,580 square feet in size and thoughtfully designed with three bedrooms and two-and-a-quarter bathrooms.
Each residence enjoys private covered access to its own two-car garage, enhancing convenience and privacy while providing a single-family home living experience. Each unit also has an owned on-street parking space. The condominium structure allows the units to be owned separately, creating an ideal opportunity for owner-occupancy while generating rental income from the second unit.
This duplex has been meticulously maintained, with significant recent improvements including a newer roof (2023), a new water heater in unit 2, a new furnace in unit 1, and renovated landscaping that enhances curb appeal and overall livability. With its combination of spacious unit sizes, modern updates, and premier Olde Towne Issaquah location, this duplex represents an exceptional opportunity for both investors and owner-occupants seeking a quality asset in one of the Eastside’s most desirable communities.