Property Details
3033 31st Avenue W
Seattle, WA 98199
$900,000
Pending Feasibility
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Property Overview
Investor Alert! Turnkey opportunity with immediate cash flow and future development potential. This fully occupied Duplex, upstairs 2/1 and downstairs 1/1 property generates stable rental income, with both units leased. Situated on NR3-zoned land, the property offers investors the opportunity to collect income while evaluating redevelopment possibilities and maximizing the site's future value. The property underwent updates exterior paint (2025), deck repair (2021) , new sewer line (2022), unit B was remodeled in 2021. Upstairs tenant has been there long term, downstairs has been rented as a furnished apartment to traveling nurses via the Furnished Finders system.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Feasibility
County
King
Neighborhood
Magnolia
Listed
Jul 8, 2026
Structure Type
Duplex
Parcel Number
1425039024
Tax & HOA
Annual Property Tax
$7,919 (2026)
Est. Monthly Tax
$660/mo
Financial Summary
Cap Rate
2.52%
Net Operating Income
$2,269,607
Gross Scheduled Income
$39,300
Gross Rent Multiplier
22.90
Total Expenses
$15,655
Building & Use
Building Sq Ft
1,800
Leasable Area
1,800 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
6,656 sqft
Year Built
1946
Exterior & Lot
Lot Size
0.15 sqft
Year Built
1946
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Alley, Curbs, Paved, Sidewalk
Exterior Features
Wood
Community & Access
Directions
W Dravus St to 31st Ave W
Location
City
Seattle
County
King
Coordinates
47.64786, -122.39733
Additional Information
Tax Year
2026
Annual Taxes
$7,919
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.
