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812 E Gwinn Pl
Seattle, WA 98102
Portage Bay Triplex · Multifamily Property For Sale
·
3 Units
Investment Highlights
- Spacious 2 Bedroom / 1 Bath Units
- Significant Renovations in 2012
- Fully Updated Plumbing Throughout
- Strong, Walkable Neighborhood Location
- Fully Rewired Electrical System
Executive Summary
Portage Bay Triplex offers a rare opportunity to own a fully renovated, owner-occupiable property in a prime Seattle location between Portage Bay and Eastlake, combining urban convenience with a residential feel. This 3,850 SF triplex features three spacious 2BR/1BA units (~1,425 SF, 1,200 SF, 995 SF) with strong layouts and livability. Property functions as a triplex but is legally a duplex, the third unit may not meet legal requirements per city records (buyer to verify). Ideal for owner-occupants seeking an alternative to single-family housing—live in one unit while rental income from the others helps offset expenses. Extensively updated in 2012 with new electrical, plumbing, and roof, plus consistent interior finishes throughout, delivering a clean, turnkey asset with minimal immediate capital needs. Retains vintage character not often found in newer construction. Property includes two electric parking stalls and large storage area with potential for added utility. Outdoor space with planter beds offers flexibility for additional amenities. Strong in-place condition with future upside in a highly desirable, centrally located neighborhood. Overall, the Portage Bay Triplex offers a combination of location, unit quality, and flexibility that is increasingly difficult to find in the Seattle market. Whether approached as an owner-occupant opportunity or a long-term hold, the asset provides a strong foundation for both lifestyle and investment performance.
Property Facts
| Price Per Unit | $458,333 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.78% | Lot Size | 0.07 AC |
| Gross Rent Multiplier | 12.8 | Building Size | 3,580 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1904 |
| Property Subtype | Apartment | Parking Ratio | 2.33/1,000 SF |
| Zoning | NR3 | ||
| Price Per Unit | $458,333 |
| Sale Type | Investment |
| Cap Rate | 4.78% |
| Gross Rent Multiplier | 12.8 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 3,580 SF |
| No. Stories | 2 |
| Year Built | 1904 |
| Parking Ratio | 2.33/1,000 SF |
| Zoning | NR3 |
Amenities
Site Amenities
- Gas Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $2,800 | 955 - 1,425 |
Property Taxes
| Parcel Number | 195970-2250 | Improvements Assessment | $668,000 |
| Land Assessment | $571,000 | Total Assessment | $1,239,000 |
Property Taxes
Parcel Number
195970-2250
Land Assessment
$571,000
Improvements Assessment
$668,000
Total Assessment
$1,239,000
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Portage Bay Triplex | 812 E Gwinn Pl