401 NE 40th St - Apartments FOR SALE


Seattle, WA 98105- Wallingford
$4,600,000 USD
425-444-6501
401 NE 40th St, Seattle, WA for Sale
$4,600,000 USD
Apartments - FOR SALE
1/6
null | 5.29% Cap Rate

401 NE 40th St
Seattle, WA 98105
Wallingford


HIGHLIGHTS

  • Excellent Wallingford location – Steps to Lake Union and Gas Works Park
  • 15 units averaging 828 SF with large balconies, and many boasting views of Lake Union
  • 20 parking spaces (6 covered), large resident storage room, common laundry rooms on two floors
  • Copper supply plumbing and cast iron drains, square D electrical subpanels, midcentury design, secured entry
  • First time on the market
  • Corner lot

OVERVIEW

A well-maintained multifamily asset in Seattle’s walkable Wallingford neighborhood, one of the city’s most coveted communities. Situated on a corner lot, the property is steps from Lake Union, Gas Works Park, and Burke-Gilman Trail. On the market for the first time, featuring 15 units averaging 828 square feet. Most units offer views of Lake Union, and all feature large balconies. Secure entry, durable copper supply plumbing, cast iron drains, and updated Square D electrical subpanels. 20 parking spaces (6 covered), large resident storage room, and common laundry on two floors. A 5.3% cap rate on rents as of February 2026 (increase notice already sent) and current expenses with upside.

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$265 USD /SF

# OF UNITS

15

PRICE/UNIT

$306,667

CAP RATE

5.29%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Golden Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,664 SF

ZONING

LR3 (M)

APN/PARCEL ID

420690-0915

ASK ABOUT THIS PROPERTY

Dan SwansonKidder MathewsMore Info
425-444-6501

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Dan SwansonKidder MathewsMore Info
425-444-6501

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