Presenting a prime value-add opportunity in the highly sought-after Queen Anne neighborhood with this well-maintained 6-unit multifamily property. Comprised of a Fourplex built in 1990 and a Duplex built in 1962, this 4,750 NRSF property offers a versatile unit mix of 1 and 2- bedroom apartments, each providing generous living spaces with an average unit size of 792 SF. The property includes 6 garages, adding significant appeal to potential tenants, and features a common laundry area for convenience.

This property presents strong investment potential, with the ability to increase rental income by approximately 57% through strategic renovations. Upside also includes the ability to implement utility billbacks and charge for 3 owner-occupied garages. Zoned MIO-37-LR1, this multifamily asset also provides the option for future development, including the potential to add two townhomes or row houses while keeping the existing Fourplex (buyer to verify).

SMI Real Estate and Matt Miller Broker Licensed in the State of Washington and in the State of Oregon represented the Seller and the Buyer in this transaction.