Property Details
2224 NE 197th Place
Shoreline, WA 98155
$1,299,950
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Property Overview
Exceptional Investment Opportunity in Shoreline! Discover this beautifully updated 4-plex located just minutes from the new Shoreline light rail station—a prime location offering unmatched convenience and long-term growth potential. Each of the four units has been thoughtfully renovated with modern finishes, creating stylish, low-maintenance living spaces that attract and retain quality tenants. All 4 units fully updated with updated kitchens, bathrooms, flooring, and fixtures. Strong rental history – every unit is currently leased. Short distance to the new light rail, I-5, shopping, parks, Lake Forest Park and Edmonds.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Ballinger
Listed
Jul 1, 2026
Structure Type
Quadruplex
Parcel Number
0508000040
Tax & HOA
Annual Property Tax
$10,040 (2026)
Est. Monthly Tax
$837/mo
Financial Summary
Cap Rate
5.00%
Net Operating Income
$21,431
Gross Scheduled Income
$84,300
Gross Rent Multiplier
15.00
Total Expenses
$21,431
Vacancy Rate
25.0%
Building & Use
Building Sq Ft
3,382
Leasable Area
3,382 sqft
Total Units
4
Zoning
Multi-Family,See Remarks
Possible Use
Multi-Family, See Remarks
Lot Size
8,298 sqft
Year Built
1978
Exterior & Lot
Lot Size
0.19 sqft
Year Built
1978
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Cul-De-Sac, Curbs, Dead End Street, Paved, Sidewalk
Exterior Features
Wood
Community & Access
Directions
From I-5 exit 177, east on Ballinger Way, right on 23rd Ave NE, building 4th on the right.
Location
City
Shoreline
County
King
Coordinates
47.77266, -122.30719
Additional Information
Tax Year
2026
Annual Taxes
$10,040
Possession
Array
Based on information submitted to the MLS GRID as of July 29, 2026 2:21 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.
