228 21st Avenue E, Seattle, WA 98112

$1,900,000
3,610
SqFt

Show Photos

Verify your account to unlock exclusive photos, mortgage tools, and more.

Listing courtesy of Westlake Associates, Inc..

List Price
$1,900,000
Status
ACTIVE
MLS#
2533245
Days on Market
54
Style
54 - 4-Plex
Finished SqFt
3,610
Area Total SqFt
3610
Annual Tax Ammount
24168
Lot Size (sq ft)
4,200
Sewer
Sewer Connected

Property Description

Located in the Miller Park neighborhood of Seattle, known for exceptional walking and biking scores, this property consists of a triplex + detached accessory dwelling unit (DADU). These well-built buildings were constructed in 2024. Units are equipped with full appliance packages that include refrigerator, oven, over range microwave, dishwasher, and full-size washer and dryer. Other amenities include wall mounted mini-splits that provide heating and cooling. Uniquely, the buildings have solar panels on the roof. All units in the triplex were newly leased in early 2026, and the DADU remains vacant for the possibility of an owner occupant. Two units in the triplex are designated Mandatory Housing Affordability units (MHA). These units have restricted rent based on MHA schedules and are also restricted to tenants that qualify under the program. The designation is permanent for these two units. The other two units can be rented at market rates or occupied by a new owner. Expenses are mostly estimated.

Additional Information

List Date
2026-06-02 16:28:16
Community
Capitol Hill
Net Operating Income
$82,279
Gross Adjusted Income
$118,693
Gross Scheduled Income
$122,364
Total Monthly Income
$10,197
Insurance Expenses
$3,216
Water/Sewer/Garbage Expenses
$2,150
Gross Rent Multiplier
15.53
Total Expenses
$35,664
Cap Rate
4.33
Vacancy Rate
3
Total Number of Units
4
Unit Name
228
Potential Terms
Cash
Year Built
2024
Roof
Metal
Site Features
Cable TV, Deck, Patio
Electric Expenses
1000
Other Expenses
5130
Energy Source
Electric
School District
Seattle
Total Monthly Income
$10,197
Gross Scheduled Income
$122,364
Vacancy Rate
3
Gross Adjusted Income
$118,693
Tax Year
2026
Insurance Expense
$3,216
W/S/G Expenses
$2,150
Total Expenses
$35,664
Net Operating Income
$82,279
Gross Rent Multiplier
15.53
Cap Rate
4.33
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.
IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks