Property Details
812 E Gwinn Place
Seattle, WA 98102
$1,375,000
Active
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Property Overview
Portage Bay Triplex offers a rare opportunity to own a fully renovated, owner-occupiable property in a prime Seattle location between Portage Bay and Eastlake, combining urban convenience with a residential feel. This 3,850 SF building features two spacious 2BR/1BA units with additional non-conforming lower apartment (~1,425 SF, 1,200 SF, 995 SF) with strong layouts and livability. Lower unit is non-conforming (buyer to verify). Ideal for owner-occupants seeking an alternative to single-family housing—live in one unit while rental income from the others helps offset expenses. Extensively updated in 2012 with new electrical, plumbing, and roof, plus consistent interior finishes throughout, delivering a clean, turnkey asset with minimal immediate capital needs. Retains vintage character not often found in newer construction. Property includes two electric parking stalls and large storage area with potential for added utility. Outdoor space with planter beds offers flexibility for additional amenities. Strong in-place condition with future upside in a highly desirable, centrally located neighborhood.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
King
Neighborhood
Portage Bay
Listed
Apr 21, 2026
Financial Summary
Cap Rate
4.78%
Net Operating Income
$65,727
Gross Scheduled Income
$112,900
Gross Rent Multiplier
12.80
Total Expenses
$41,803
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
3,580
Leasable Area
3,580 sqft
Total Units
3
Lot Size
2,892 sqft
Year Built
1904
Exterior & Lot
Lot Size
0.07 sqft
Year Built
1904
Garage
2 spaces
Exterior Materials
Wood
Sewer
Sewer Connected
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Wood
Location
City
Seattle
County
King
Coordinates
47.64801, -122.32145
Additional Information
Tax Year
2026
Annual Taxes
$12,741
Possession
Array
Based on information submitted to the MLS GRID as of April 28, 2026 5:45 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.
