Updated Duplex with Private
2602 Nw 62nd St, Seattle, WA 98107
For Sale
$1,200,000
Legal two-unit property with separate one-bedroom residences, shared laundry, garage storage, and landscaped outdoor space.
Property Size2,070 SF
Price / SF$579.71
Days on Market90
Property Features for 2602 Nw 62nd St
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Redfin
Listed By:
Chandra Gordon
(425) 350-9014
Source:
Pugetsoundpropertyguide
Added: Aug 17
Changed: Nov 11
Last Checked: Nov 10 at 12:40PM
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 Redfin
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Investment Insights
Based on property information with market context.
Built in 1963, this 2,070-square-foot legal duplex contains two separate one-bedroom, one-bath residences with distinct layouts and individual addresses. A shared interior entry provides access to both homes, while the units remain vertically independent. Interior improvements include full kitchens, hardwood flooring, abundant natural light, and finished living areas. One residence also includes a Murphy bed and dining table combination that creates additional sleeping capacity when needed.
The property is furnished and has been operated as short-term rentals; furnishings and household items are negotiable with the sale. Shared laundry is located on the lower level beside a large garage with substantial storage. The corner lot includes driveway parking, landscaped grounds, a private backyard, and a storage shed. The property is located in Ballard, near shops, restaurants, parks, and the waterfront.
The property is furnished and has been operated as short-term rentals; furnishings and household items are negotiable with the sale. Shared laundry is located on the lower level beside a large garage with substantial storage. The corner lot includes driveway parking, landscaped grounds, a private backyard, and a storage shed. The property is located in Ballard, near shops, restaurants, parks, and the waterfront.
Key Highlights
- 2,070‑square‑foot duplex built in 1963
- Two 1 bed/1 bath residences with separate addresses
- Each unit has a distinct layout with no residence directly above the other
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,362
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,240
$747.2K
Cap Rate 7%
$533,743
$533.7K
Cap Rate 9%
$415,133
$415.1K
Market Conditions
NOI Build-Up for 2,070 SF
Gross rent
$55.9K $27.00/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$53.4K $25.79/SF
− OpEx
−$16.0K −$7.74/SF
NOI
$37.4K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,240
Cap Rate 7%
$533,743
Cap Rate 9%
$415,133
Alternative Uses
Best Use
Multifamily LT 5
$533.7K
$467.0K – $622.7K
NOI $37,362 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$499.1K
$436.7K – $582.3K
NOI $34,937 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$622.8K
$544.9K – $726.6K
NOI $43,594 @ 7.0% cap · market cap 3.63%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,170
Businesses Nearby
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Business Placement
Demographics for 98107, WA
28,557
Population
16,538
Households
1.7
Avg Household Size
35
Median Age
76%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
12,980
Density / Sq Mi
$137,748
Median Household Income
$82,884
Median Earnings
$2,194
Median Rent
$924,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Seattle, WA
Properties on Market for Duplexes in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-unit property with separate one-bedroom residences, shared laundry, garage storage, and landscaped outdoor space.
Where is this duplex located?
The property is located at 2602 Nw 62nd St Seattle, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,070‑square‑foot duplex built in 1963; Two 1 bed/1 bath residences with separate addresses; Each unit has a distinct layout with no residence directly above the other
