Updated 4-Plex Investment
12602 118TH Kirkland, WA 98034
12602 118TH, Kirkland, WA, 98034
$1,699,000
For Sale
$1,699,000
Clean, well-maintained 4-plex with updated interiors, stucco and brick exterior, decks, and in-unit washer/dryer.
Property Size3,328 SF
Price / SF$510.52
Days on Market198
Property Features for 12602 118TH
General Information
- Standard status
- Active
- Size
- 3,328 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1979
Listing agency
Skyline Properties,Inc.
(425) 326-0125
Listed by
Fred Grunewald
(425) 326-0125
Source
Skylineproperties
Added: Jan 5 Updated: Jul 21 at 6:47PM Checked: Jul 21 at 6:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Skyline Properties,Inc.
Investment Insights
Based on property information with market context.
This clean and well-maintained Kirkland 4-plex features a stucco and brick exterior and consists of four 2-bedroom, 1-bath units. Each unit has a washer/dryer inside the home and private decks. The property has a roof that is approximately 3 years old, along with new paint, and is described as fully occupied.
The offering is in the Totem Lake area, with proximity to shopping, public transportation, freeway access, and restaurants. Exterior access is suitable for drive-by and exterior walk-through only, and tenants should not be disturbed.
According to the seller, landscaping, trash removal, and common area maintenance are handled by the HOA. The 4-plex is owned separately as one of 12 separate 4-plex buildings that comprise the Totem Firs Apartment complex.
The offering is in the Totem Lake area, with proximity to shopping, public transportation, freeway access, and restaurants. Exterior access is suitable for drive-by and exterior walk-through only, and tenants should not be disturbed.
According to the seller, landscaping, trash removal, and common area maintenance are handled by the HOA. The 4-plex is owned separately as one of 12 separate 4-plex buildings that comprise the Totem Firs Apartment complex.
Key Highlights
- 4‑plex built in 1979 in the Totem Lake area, fully occupied and updated
- Stucco and brick exterior with decks for each 2 bed/1 bath unit
- Each unit has an in‑unit washer/dryer
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.9k | $25.50 |
| − Vacancy | −$4.7k | −$1.41 |
| EGI | $80.2k | $24.09 |
| − OpEx | −$24.1k | −$7.23 |
| NOI | $56.1k | $16.87 |
3,328 SF · lease $25.50/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$801.9K
$701.7K – $935.5K
NOI $56,132 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$739.0K
$646.6K – $862.1K
NOI $51,727 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$1.33M
$1.17M – $1.56M
NOI $93,306 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Clean, well-maintained 4-plex with updated interiors, stucco and brick exterior, decks, and in-unit washer/dryer.
Where is this quadplex located?
The property is located at 12602 118TH Kirkland, WA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 4‑plex built in 1979 in the Totem Lake area, fully occupied and updated; Stucco and brick exterior with decks for each 2 bed/1 bath unit; Each unit has an in‑unit washer/dryer
