812 E Gwinn Place, Seattle, WA 98102

$1,375,000
3,580
SqFt

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Listing courtesy of Westlake Associates, Inc..

List Price
$1,375,000
Status
ACTIVE
MLS#
2510674
Days on Market
96
Style
53 - Tri-plex
Finished SqFt
3,580
Area Total SqFt
3580
Annual Tax Ammount
12741
Lot Size (sq ft)
2,891
Sewer
Sewer Connected

Property Description

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 building features two spacious 2BR/1BA units with additional non-conforming lower apartment (~1,425 SF, 1,200 SF, 995 SF) with strong layouts and livability. Lower unit is non-conforming (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.

Additional Information

List Date
2026-04-21 16:38:15
Community
Portage Bay
Net Operating Income
$65,727
Gross Adjusted Income
$107,530
Gross Scheduled Income
$112,900
Total Monthly Income
$9,408
Insurance Expenses
$2,500
Water/Sewer/Garbage Expenses
$4,783
Gross Rent Multiplier
12.8
Total Expenses
$41,803
Cap Rate
4.78
Vacancy Rate
5
Total Number of Units
3
Unit Name
812
Potential Terms
Cash, Conventional
Year Built
1904
Roof
Composition
Site Features
Deck, Fenced-Partially, Gas Available, Patio
Other Expenses
21779
Energy Source
Electric, Natural Gas
School District
Seattle
Total Monthly Income
$9,408
Gross Scheduled Income
$112,900
Vacancy Rate
5
Gross Adjusted Income
$107,530
Tax Year
2026
Insurance Expense
$2,500
W/S/G Expenses
$4,783
Total Expenses
$41,803
Net Operating Income
$65,727
Gross Rent Multiplier
12.8
Cap Rate
4.78
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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