4-Unit Quadplex with Covered
For Sale
$1,395,000
1627 NE 199th Place, Shoreline, WA 98155
Four two-bedroom residences each include a fireplace, in-unit laundry, and a private outdoor area.
Property Size3,680 SF
Lot Size0.26 Acres
Price / SF$379.08
Days on Market117
Property Features for 1627 NE 199th Place
General Information
Standard status
Active
Size
3,680 SF
Total Parking Spaces
7
Lot size
0.26 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,467
Amenities
fireplace
walk-in closet
in-unit washer/dryer
private covered patio/deck
Building Details
Building Size
3,680 SF
Year Built
1980
Buildings
1
Listing Agency:
Maple Leaf Real Estate LLC
Listed By:
Tina Christensen
(206) 250-7367
Source:
Craftedre
Added: Jul 3
Changed: Oct 26
Last Checked: Oct 26 at 1:31PM
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 Maple Leaf Real Estate LLC
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Investment Insights
Based on property information with market context.
This 3,680-square-foot quadplex, built in 1980, contains four apartments, each configured with two bedrooms and one bathroom. Individual residences have wood-burning fireplaces, walk-in closets, two storage or linen closets, full-size in-unit washers and dryers, and a covered patio or deck. The building roof was replaced in 2017.
The property occupies an 11,475-square-foot lot in Shoreline, near the King and Snohomish County boundary. Access to I-5 and I-405, as well as Shoreline and Mountlake Terrace light rail stations, connects the area to regional transportation. The property is within the Shoreline School District.
Parking includes four covered carport spaces, three additional uncovered spaces, and shared guest parking. Each carport has a storage closet, with four more storage closets on the property.
The property occupies an 11,475-square-foot lot in Shoreline, near the King and Snohomish County boundary. Access to I-5 and I-405, as well as Shoreline and Mountlake Terrace light rail stations, connects the area to regional transportation. The property is within the Shoreline School District.
Parking includes four covered carport spaces, three additional uncovered spaces, and shared guest parking. Each carport has a storage closet, with four more storage closets on the property.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 3,680‑square‑foot building on an 11,475‑square‑foot lot
- Each unit includes a wood‑burning fireplace, full‑size washer and dryer, and private covered patio or deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,069
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,241,380
$1.2M
Cap Rate 7%
$886,700
$886.7K
Cap Rate 9%
$689,656
$689.7K
Market Conditions
NOI Build-Up for 3,680 SF
Gross rent
$93.8K $25.50/SF
− Vacancy
−$5.2K −$1.41/SF
EGI
$88.7K $24.09/SF
− OpEx
−$26.6K −$7.23/SF
NOI
$62.1K $16.87/SF
Area
King County, WA
Vacancy
5.51%
Lease Rate
$25.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,241,380
Cap Rate 7%
$886,700
Cap Rate 9%
$689,656
Alternative Uses
Best Use
Multifamily LT 5
$886.7K
$775.9K – $1.03M
NOI $62,069 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$817.1K
$715.0K – $953.3K
NOI $57,198 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,175 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
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Business Placement
Demographics for 98155, WA
35,948
Population
14,526
Households
2.5
Avg Household Size
41
Median Age
56%
College-Educated
95%
High-School Grad
7.5 sq mi
ZIP Area
4,793
Density / Sq Mi
$131,911
Median Household Income
$67,323
Median Earnings
$2,016
Median Rent
$758,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences each include a fireplace, in-unit laundry, and a private outdoor area.
Where is this quadplex located?
The property is located at 1627 NE 199th Place Shoreline, 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: Four apartments, each with 2 bedrooms and 1 bathroom; 3,680‑square‑foot building on an 11,475‑square‑foot lot; Each unit includes a wood‑burning fireplace, full‑size washer and dryer, and private covered patio or deck
