16 147th Ave SE - Apartments FOR SALE


Bellevue, WA 98007- Southeast Bellevue
$1,995,000 USD
206-658-7247
16 147th Ave SE, Bellevue, WA for Sale
$1,995,000 USD
Apartments - FOR SALE
1/20
null | 4.3% Cap Rate

16 147th Ave SE
Bellevue, WA 98007
Southeast Bellevue


HIGHLIGHTS

  • Seller Financing is available for qualified buyers with terms of 25% down, 5-year term, and 5% interest-only payments
  • Centrally located in Bellevue's highly desirable Lake Hills neighborhood
  • Four spacious 2-bedroom, 1-bath units (~1,038 SF)
  • Each unit includes its own attached garage, offering tenants secure parking and additional storage
  • Washers and dryers in each unit
  • TPO Membrane roof fully replaced 8 years ago

OVERVIEW

Seller financing is available or qualified buyers, with terms of 25% down, 5-year term, and 5% interest-only payments. Rare opportunity to acquire the Bellevue Fourplex, a well-maintained 1969-built investment property located at 16 147th Ave SE in one of the Eastside’s most desirable submarkets. This four-unit asset offers investors the opportunity to own a multifamily property in a tightly held Bellevue location where inventory remains extremely limited. The Bellevue Fourplex consists of four spacious two-bedroom, one-bathroom units averaging 1,038 square feet each, with a total net rentable area of 4,150 square feet on an 8,178 square foot lot. Each unit features in-unit washers and dryers, double-pane vinyl windows, and an attached garage, with tenants responsible for all utilities. The property has been meticulously maintained, including an approximately eight-year-old TPO membrane roof. Current rents average $2,168 per unit, while market rents are $2,500 per unit, presenting a new owner with immediate rental upside through light interior renovations. Ideally located just minutes from Downtown Bellevue, T-Mobile headquarters, Microsoft’s Redmond campus, and with quick access to I-90 and I-405, the Bellevue Fourplex offers a compelling combination of location, in-place income, and rental upside in a market defined by limited supply and strong tenant demand.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$393 USD /SF

# OF UNITS

10

PRICE/UNIT

$199,500

CAP RATE

4.3%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bellevue Fourplex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,189 SF

ZONING

MDR-2

APN/PARCEL ID

246030-0180

ASK ABOUT THIS PROPERTY

Ben DouglasParagon Real Estate AdvisorsMore Info
206-658-7247

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Ben DouglasParagon Real Estate AdvisorsMore Info
206-658-7247

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.