Property Details

3201 S Charles Street
Seattle, WA 98144
$1,095,000
MLS# 2478453 courtesy of NWMLS Listing firm: COMPASS

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3201 S Charles Street , Seattle, WA 98144, Seattle

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Multi-Family
Property Type
1,660
Bldg Sq Ft
2
Units
4.40%
Cap Rate
1922
Year Built

Property Overview

In the heart of Leschi, this charming Craftsman offers exceptional flexibility and income potential in one of Seattle’s most sought-after neighborhoods. Recent price reduction to $1,095,000 can't be beat for fully permitted duplex units – each with two beds, full bath, and in-unit laundry – the property could also be converted to a four-bed, two-bath single-family home. Units are renting under market value at $2,700 and $2,500 per month, creating an outstanding opportunity for owner-occupants seeking income or investors looking for long-term upside. Seller upgrades include air conditioning, while maintaining classic Craftsman character and warmth. Enjoy lake and mountain views, and both a picturesque boulevard and a quiet dead-end street. Multiple patios and garden spaces provide ideal indoor-outdoor living, all fully fenced for privacy, entertaining, or pets.This property is suited for first-time buyers who want rental support, multi-generational living, or those who want kids to live nearby while contributing to the mortgage. Perfect location – stroll up to coffee shops and restaurants along the Leschi Ridge, or down to Lake Washington, Leschi Market, and waterfront dining.Commuting is a breeze – 15 mins to downtown Seattle, 20 mins to SeaTac, and easy access to bus routes and light rail, including new I90 light rail to Bellevue and Redmond. Rarely does a home combine lifestyle, flexibility, and income potential like this. Come experience it for yourself.

Property Details

Property Information

Property Type Residential Income
Subtype Multi Family
Status Active
County King
Neighborhood Leschi
Listed Feb 10, 2026
Original Price $1,125,000

Financial Summary

Cap Rate 4.40%
Net Operating Income $49,537
Gross Scheduled Income $62,400
Gross Rent Multiplier 18.03
Total Expenses $12,863

Building & Use

Building Sq Ft 1,660
Leasable Area 1,660 sqft
Total Units 2
Lot Size 2,082 sqft
Year Built 1922

Exterior & Lot

Lot Size 0.05 sqft
Year Built 1922
Exterior Materials Brick, Metal/Vinyl, Wood
Sewer Sewer Connected
Water Source Public
Lot Features Corner Lot, Curbs, Dead End Street, Paved, Sidewalk
Exterior Features Brick, Metal/Vinyl, Wood

Location

City Seattle
County King
Coordinates 47.59446, -122.29132

Additional Information

Tax Year 2025
Annual Taxes $7,344
Possession Array
Listed By
Scott B Lennard
COMPASS

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