Property Details
1529 -1529 NE 150th Street
Shoreline, WA 98155
$1,600,000
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Property Overview
Shoreline Townhomes + SFH is a 6-unit investment opportunity located at 1527–1529 NE 150th Street in Shoreline, Washington. The property includes five 3-bedroom, 1.5-bathroom townhome units and one detached 2-bedroom, 1-bathroom single-family home, totaling 6,437 rentable square feet. Seller financing is available to qualified buyers at an attractive 4.5% interest-only rate with a 5-year term and 25% down payment. The investment presents a compelling value-add opportunity through a renovation program combined with favorable financing. Current rents average $1,101 per unit, approximately 50% below market rates for comparable Shoreline properties. By implementing upgrades and leveraging Washington State RCW statutes (59.18.200, 59.18.650, 59.18.440), tenants may be relocated with proper 120-day notice for permitted renovations. Upon completion, projected rents could increase scheduled gross income by over 90% at stabilized market levels. The property benefits from a strong location within Shoreline, with proximity to highly regarded schools including Shorecrest High School, Kellogg Middle School, Briarcrest Elementary, and Shoreline Christian School, all within one mile. This location supports long-term tenant demand and sustained rental growth.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Briarcrest
Listed
Jun 11, 2026
Structure Type
Multi Family
Parcel Number
367050
Tax & HOA
Annual Property Tax
$17,826 (2026)
Est. Monthly Tax
$1,486/mo
Financial Summary
Cap Rate
1.00%
Net Operating Income
$15,783
Gross Scheduled Income
$79,260
Gross Rent Multiplier
20.19
Total Expenses
$58,014
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
6,437
Leasable Area
6,437 sqft
Total Units
6
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
16,217 sqft
Year Built
1977
Exterior & Lot
Lot Size
0.37 sqft
Year Built
1977
Exterior Materials
Wood
Sewer
Available
Water Source
Public
Exterior Features
Wood Products
Community & Access
Directions
Get on I-5 N. Take exit 175. Merge onto 5th Ave NE. Take 1st exit at roundabout onto NE 145th St. Turn left onto 15th Ave NE. Right onto NE 150th St. Turn right.
Location
City
Shoreline
County
King
Coordinates
47.73729, -122.31147
Additional Information
Tax Year
2026
Annual Taxes
$17,826
Possession
Array
Based on information submitted to the MLS GRID as of June 11, 2026 6:30 PM. 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, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
