Property Details
4903 3rd Avenue NW
Seattle, WA 98107
$1,100,000
Active
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Property Overview
Rare and versatile opportunity in the highly desirable Ballard / West Woodland neighborhood. This well-located triplex at 4903 3rd Ave NW offers a unique combination of immediate rental income and future flexibility. The property currently operates as a triplex but presents a rare and relatively straightforward opportunity to convert the structure back into a spacious single-family residence if desired. The building’s layout and single-structure configuration make it well suited for a buyer looking to reimagine the property as a large custom home, while still maintaining the option to generate rental income in the meantime. For investors, the existing units provide steady income potential in one of Seattle’s strongest rental markets. For owner-occupants or builders, the property offers the chance to create a substantial single-family home in a premier neighborhood without starting from the ground up. Ideally located just minutes from Ballard, Fremont, Green Lake, and Woodland Park, with easy access to shops, restaurants, parks, and major commuter routes. Opportunities like this—combining location, income potential, and future conversion flexibility—are increasingly rare in this sought-after Seattle neighborhood. A truly flexible property with long-term upside for investors, developers, or homeowners looking to create their dream residence.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Woodland Park
Listed
Apr 27, 2026
Financial Summary
Cap Rate
4.12%
Net Operating Income
$45,339
Gross Scheduled Income
$70,920
Gross Rent Multiplier
15.51
Total Expenses
$22,015
Vacancy Rate
2.0%
Building & Use
Building Sq Ft
2,280
Leasable Area
2,280 sqft
Total Units
3
Lot Size
2,940 sqft
Year Built
1950
Exterior & Lot
Lot Size
0.07 sqft
Year Built
1950
Garage
2 spaces
Exterior Materials
Brick
Sewer
Sewer Connected
Water Source
Community
Lot Features
Alley, Curbs, Paved, Sidewalk
Exterior Features
Brick
Location
City
Seattle
County
King
Coordinates
47.66457, -122.36101
Additional Information
Tax Year
2019
Annual Taxes
$9,339
Possession
Array
Based on information submitted to the MLS GRID as of May 8, 2026 6:45 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.
