Seattle, WA 98105 401 NE 40th Street
$4,600,000
19 more
Presented By: Kidder Mathews and NWMLS
- MLS# 2433143
- 09/12/2025
Disclaimer: The information contained in this listing has not been verified by kvCORE WordPress Staging and should be verified by the buyer.
SQFT • 15,433
Home Details
A well maintained Multi-family asset in Seattle’s walkable Wallingford neighborhood, one of the city’s most coveted communities. Situated on a corner lot, the property is steps away from Lake Union, Gas Works Park and Burke Gilman Trail. On the market for the first time, featuring 15 units averaging 828 square feet. Most units offer views of Lake Union and all features large balconies. Secure entry, durable copper supply plumbing, cast iron drains and updated Square D electrical subpanels. 20 parking spaces (6 covered) large resident storage room and common laundry on two floors. A 5.3% cap rate on rents as of February 2026 (increase notice already sent) and current expenses with upside.
Presented By: Kidder Mathews and NWMLS
Interior Features for 401 NE 40th Street
Bedrooms
Bedrooms Upper
Bathrooms
Baths Full Upper0
Baths Half Upper
Baths Three Quarter Upper
Other Interior Features
Air Conditioning Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Power Production TypeElectric
Total Fireplaces
Total Stories3
General for 401 NE 40th Street
AmenitiesCoin Op Laundry, Storage, Thermal Windows
Building Area UnitsSquare Feet
Cap Rate5.29
Carport Spaces6
Carport Y/NNo
CitySeattle
CoolingNone
CountyKing
DirectionsProperty is located on the triangular shaped land between NE Pacific St, NE 40th St and 4th Ave NE.
Electric Expense
Elementary SchoolGreen Lake
Energy EfficientThermal Windows
Fuel Expense
HOANo
HOA Fee$
HeatingBaseboard
High SchoolLincoln High
High School DistrictSeattle
Insurance Expense3278
Leasable Area14238
Listing TermsCash Out, Conventional
Lot Size Square Feet10664
Lot Size UnitsSquare Feet
MLS Area705 – Ballard/Greenlake
Middle/Junior High SchoolHamilton Mid
ModificationTimestamp2025-09-12T21:43:13.743Z
NWM_ShowMapLinkY
Net Operating Income243444
New ConstructionNo
Number Of Units Total15
Open Parking Spaces14
PossessionClosing, Subject to Tenant Rights
Possible UseMulti-Family
Property Style56 – 10+ Units
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksA well maintained Multi-family asset in Seattle’s walkable Wallingford neighborhood, one of the city’s most coveted communities. Situated on a corner lot, the property is steps away from Lake Union, Gas
RoofFlat
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeMulti Family
Subdivision NameWallingford
Tax Annual Amount44158
Tax Year2025
Units Below Gradefalse
Units In Building Total15
ViewCanal, City, Lake, Territorial
Water Sewer Garbage21334
Year Built1964
Zoning DescriptionMulti-Family
Exterior for 401 NE 40th Street
Building Area Total15433
Covered Spaces
Exterior AmenitiesBrick, Stucco, Wood
Irrigation Water Rights Y/NNo
Lot FeaturesCorner Lot, Curbs, Paved, Sidewalk
Lot Size Acres0.2448
Parking Uncovered Spaces14
Total Parking20
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Schools
Elementary School
Green Lake Elementary School
Middle School
Hamilton Mid
High School
Lincoln High
Josh QA1
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