$2,450,000
 $13,152 est/mo Sourced by Back At You

712 N 143rd Street,Seattle, WA 98133

Seattle, WA 98133

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Description

The property sits in one of North Seattle's fastest-improving rental corridors. The location is further supported by Sound Transit's new Shoreline South/148th light rail station and direct bus access to downtown Seattle. The offering represents an operational value-add opportunity. The asset is in good physical condition, bolstered by recent capital improvements including a new TPO membrane roof (2023), upgraded electrical panels (2024), and replaced window panes (2025). With the option to upgrade units on turnover and capture premium rents as leases roll, and with scheduled rents below market and no utility bill-back currently in place, a new ownership group can grow income through natural lease turnover, selective unit upgrades, and the implementation of a utility recapture program, meaningfully lifting NOI. At market operations, the offering achieves a 7.4% cap rate and a 9.7% cash-on-cash return, giving new ownership strong performance upside as rents are brought up to market. At just $238 per square foot and $175,000 per door, the property presents an exceptional basis for a 1980s-built asset, well below recent comparable sales in the area. Current in-place rents average $1,205 for the eleven one-bedroom units and $1,617 for the three two-bedroom units, while comparable properties in the area are achieving approximately $1,550 and $1,875.

Details

MLS #2555010
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1983
Days On Site49
Listing Provided ByParagon Real Estate Advisors | Michael Urquhart

Features

SQ Feet10,280
Car PortYes
Story(s)3
Units14
ZoningMulti-Family
Acreage0.23

Taxes

Property30563

Area Information

StateWA
CountyKing
CitySeattle
Zip Code98133
Area715 Richmond Beach | Shoreline
Community NameParkwood
Listing VS Median (in Parkwood)
Price:
$2,450,000
low | high
Med:
$549,999
100% of Average
sqft:
10,280
low | high
Med:
1,015
100% of Average
$ / sqft:
$238
low | high
Med:
$588
96.729248579085% of Average
On site:
49
low | high
Med:
14
100% of Average
Sourced by Back At You

Market Activity 98133

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Learn More About This Property

StateWA
CountyKing
CitySeattle
Zip Code98133
Area715 Richmond Beach | Shoreline
Community NameParkwood
Listing VS Median (in Parkwood)
Price:
$2,450,000
low | high
Med:
$549,999
100% of Average
sqft:
10,280
low | high
Med:
1,015
100% of Average
$ / sqft:
$238
low | high
Med:
$588
96.729248579085% of Average
On site:
49
low | high
Med:
14
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/4 mile)
Price: $1.837M - $3.62M
sqft: 7,500 - 12,500
Nearby Listings Property ImageNearby Listings Details
14520 Phinney Avenue Property Photo 1
$3,500,000
14520 Phinney Avenue
Shoreline, WA 98133
Listing Updated: September 2, 2026 at 9:02:58 AM PDT