Property Details
16 147th Avenue SE
Bellevue, WA 98007
Sold for $1,706,000
Sold
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Property Overview
The Bellevue Fourplex consists of four spacious two-bedroom, one-bathroom units averaging 1,038 square feet each, with a total net rentable area of 4,150 square feet on an 8,178 square foot lot. Each unit features in-unit washers and dryers, double-pane vinyl windows, and an attached garage, with tenants responsible for all utilities. The property has been meticulously maintained, including an approximately eight-year-old TPO membrane roof. Current rents average $2,168 per unit, while market rents are $2,500 per unit, presenting a new owner with immediate rental upside through light interior renovations. The property benefits from proximity to Kelsey Creek Center, a well-established neighborhood retail hub. Anchored by a mix of grocery, dining, and service-oriented tenants, the center enhances day-to-day livability and serves as a strong amenity for residents, supporting long-term tenant demand and overall appeal. Ideally located just minutes from Downtown Bellevue, T-Mobile headquarters, Microsoft’s Redmond campus, and with quick access to I-90 and I-405, the Bellevue Fourplex offers a compelling combination of location, in-place income, and rental upside in a market defined by limited supply and strong tenant demand.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Sold
County
King
Neighborhood
Crossroads
Listed
May 12, 2026
Sold Date
Aug 12, 2026
Original Price
$1,995,000
Structure Type
Quadruplex
Parcel Number
2460300180
Tax & HOA
Annual Property Tax
$12,454 (2026)
Est. Monthly Tax
$1,038/mo
HOA Fee
$516/annually
Financial Summary
Cap Rate
4.58%
Net Operating Income
$85,842
Gross Scheduled Income
$105,432
Gross Rent Multiplier
17.78
Total Expenses
$19,590
Building & Use
Building Sq Ft
4,150
Leasable Area
4,150 sqft
Total Units
4
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
8,176 sqft
Year Built
1969
Exterior & Lot
Lot Size
0.19 sqft
Year Built
1969
Garage
4 spaces
Exterior Materials
Brick, Wood
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Brick, Wood Products
Community & Access
Directions
Get on I-90 E towards Bellevue. Take exit 11B toward 148th Ave SE. Turn left onto Main St. Turn left onto 147th Ave SE. Destination will be on the left.
Location
City
Bellevue
County
King
Coordinates
47.60932, -122.14403
Additional Information
Tax Year
2026
Annual Taxes
$12,454
Possession
Array
Buyer Brokerage: Roopa Group
Based on information submitted to the MLS GRID as of August 13, 2026 1:45 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.
