Property Details

401 NE 40th St

Seattle, WA 98105

$4,600,000

Off Market

CBA# 702401 courtesy of CBA Listing firm: Kidder Mathews

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Commercial

Property Type

12,420

Bldg Sq Ft

Units

4.00%

Cap Rate

1964

Year Built

Property Overview

A well-maintained multifamily asset in Seattle’s walkable Wallingford neighborhood, one of the city’s most coveted communities. Situated on a corner lot, the property is steps from Lake Union, Gas Works Park, and Burke-Gilman Trail. On the market for the first time, featuring 15 units averaging 828 square feet. Most units offer views of Lake Union, and all feature large balconies. Secure entry, durable copper supply plumbing, cast iron drains, and updated Square D electrical subpanels. 20 parking spaces (6 covered), large resident storage room, and common laundry on two floors. A 5.3% cap rate on rents as of February 2026 (increase notice already sent) and current expenses with upside.