Side-by-Side Duplex with
14602 NE 3rd St, Bellevue, WA 98007
For Sale
New
$1,395,000
Both residences are occupied, and the tenant in the smaller unit is willing to remain.
Property Size2,440 SF
Price / SF$571.72
Days on Market6
Property Features for 14602 NE 3rd St
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Listed By:
Realtrua
(425) 941-2091
Source:
Realtrua
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 8 at 5:17AM
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 Realtrua
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Investment Insights
Based on property information with market context.
This 2,440-square-foot duplex, built in 1970, contains two side-by-side residences. Unit 14604 has three bedrooms, one and a half bathrooms, and laminate flooring. Unit 14602 has two bedrooms and one and a half bathrooms, with improvements to its kitchen and bathroom. A garage serves each unit. The roof is approximately eight years old, and the windows are approximately five years old.
The property is in Bellevue, near Crossroads Mall and Downtown Bellevue, with shopping, dining, and everyday services in the surrounding area. Both residences are occupied, and the tenant in Unit 14602 is willing to stay.
The property is in Bellevue, near Crossroads Mall and Downtown Bellevue, with shopping, dining, and everyday services in the surrounding area. Both residences are occupied, and the tenant in Unit 14602 is willing to stay.
Key Highlights
- 2,440‑square‑foot duplex built in 1970
- Unit 14604 has 3 bedrooms and 1.5 baths
- Unit 14602 has 2 bedrooms and 1.5 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,775
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,500
$835.5K
Cap Rate 7%
$596,786
$596.8K
Cap Rate 9%
$464,167
$464.2K
Market Conditions
NOI Build-Up for 2,440 SF
Gross rent
$63.0K $25.80/SF
− Vacancy
−$3.3K −$1.34/SF
EGI
$59.7K $24.46/SF
− OpEx
−$17.9K −$7.34/SF
NOI
$41.8K $17.12/SF
Area
Bellevue, WA
Vacancy
5.20%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,500
Cap Rate 7%
$596,786
Cap Rate 9%
$464,167
Alternative Uses
Best Use
Multifamily LT 5
$596.8K
$522.2K – $696.3K
NOI $41,775 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$558.8K
$488.9K – $651.9K
NOI $39,113 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$1.13M
$988.2K – $1.32M
NOI $79,056 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
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Business Placement
Demographics for 98007, WA
29,476
Population
12,403
Households
2.4
Avg Household Size
33
Median Age
69%
College-Educated
95%
High-School Grad
4.3 sq mi
ZIP Area
6,855
Density / Sq Mi
$126,814
Median Household Income
$81,818
Median Earnings
$2,276
Median Rent
$934,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in King County, WA
Properties on Market for Duplexes in King County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, and the tenant in the smaller unit is willing to remain.
Where is this duplex located?
The property is located at 14602 NE 3rd St Bellevue, WA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 2,440‑square‑foot duplex built in 1970; Unit 14604 has 3 bedrooms and 1.5 baths; Unit 14602 has 2 bedrooms and 1.5 baths
