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441 NE Alder St
Issaquah, WA 98027
Multifamily Property For Sale · 2 Units

Investment Highlights

  • Walkable and bikeable Olde Towne Issaquah location just blocks from Downtown, Easy access to I-90, Bellevue, and Downtown Seattle
  • Modern 1998 construction; Fully remodeled duplex to custom home specs (2024)
  • Oversized 1,580-SF 3-bedroom/2.25-bath units
  • Quiet, tree-lined residential street
  • Separate condo units – Ideal for owner occupancy
  • Each unit with private covered access to 2-car garage

Executive Summary

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.

Property Facts

Price Per Unit $1,000,000
Sale Type Investment
Cap Rate 3.52%
Gross Rent Multiplier 20.6
No. Units 2
Property Type Multifamily
Apartment Style Garden
Lot Size 0.29 AC
Building Size 3,160 SF
No. Stories 2
Year Built/Renovated 1998/2024
Parking Ratio 1.9/1,000 SF
Zoning SF-D

Amenities

Unit Amenities

  • Dishwasher
  • Fireplace
  • Washer/Dryer
  • Heating
  • Ceiling Fans
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Views
  • Yard
  • Deck
  • Dining Room

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+2 2 $4,000 1,580

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 010320-0010
  • 010320-0020
Land Assessment
$349,200
Improvements Assessment
$1,096,800
Total Assessment
$1,446,000
  • Listing ID: 39893722

  • Date on Market: 3/24/2026

  • Last Updated:

  • Address: 441 NE Alder St, Issaquah, WA 98027

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