Three-Unit Triplex with Alley
For Sale
$1,050,000
3438 14th Avenue W, Seattle, WA 98119
Three occupied residences offer in-unit laundry, private decks, and off-street parking.
Property Size3,110 SF
Lot Size0.14 Acres
Price / SF$337.62
Days on Market8
Property Features for 3438 14th Avenue W
General Information
Standard status
Active
Size
3,110 SF
Total Parking Spaces
4
Lot size
0.14 Acres
Property subtype
Residential Income
Zoning
LR1(M)
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
Fix up interiors on your timeline
Site & Location
Neighborhood
Interbay
Road Access
Yes
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$14,430
Amenities
in-unit laundry
decks
storage
Wood
Building Details
Building Size
3,110 SF
Year Built
1963
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listed By:
Brad Wakeman Engel & Voelkers Seattle DT
Source:
Lauramounter
Added: Oct 30
Changed: Oct 31
Last Checked: Nov 6 at 3:39AM
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 Brad Wakeman Engel & Voelkers Seattle DT
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,110-square-foot triplex contains three occupied units on a 6,000-square-foot lot. In-unit laundry is featured in Units 2 and 3; Unit 1 includes a fireplace, full appliances, and a private deck. The building also has northwest-facing decks, a 330-square-foot basement with flexible storage space, a standing-seam metal roof, copper plumbing, and recently refreshed exterior paint.
Four parking stalls are accessed from a private dead-end alley. The property is zoned LR1(M) and has alley access. Native landscaping is established on the grounds.
Four parking stalls are accessed from a private dead-end alley. The property is zoned LR1(M) and has alley access. Native landscaping is established on the grounds.
Key Highlights
- Three units, all currently occupied
- 3,110‑square‑foot building on a 6,000‑square‑foot lot
- Four parking stalls accessed via a private dead‑end alley
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,134
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,122,680
$1.1M
Cap Rate 7%
$801,914
$801.9K
Cap Rate 9%
$623,711
$623.7K
Market Conditions
NOI Build-Up for 3,110 SF
Gross rent
$84.0K $27.00/SF
− Vacancy
−$3.8K −$1.22/SF
EGI
$80.2K $25.79/SF
− OpEx
−$24.1K −$7.74/SF
NOI
$56.1K $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%
$1,122,680
Cap Rate 7%
$801,914
Cap Rate 9%
$623,711
Alternative Uses
Best Use
Multifamily LT 5
$801.9K
$701.7K – $935.6K
NOI $56,134 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$749.9K
$656.1K – $874.8K
NOI $52,490 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$935.7K
$818.7K – $1.09M
NOI $65,496 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Explore this area
Business Placement
Demographics for 98119, WA
26,238
Population
15,323
Households
1.7
Avg Household Size
35
Median Age
71%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
10,933
Density / Sq Mi
$125,021
Median Household Income
$74,038
Median Earnings
$1,963
Median Rent
$1,032,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Seattle, WA
Properties on Market for Triplexes in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residences offer in-unit laundry, private decks, and off-street parking.
Where is this triplex located?
The property is located at 3438 14th Avenue W Seattle, WA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three units, all currently occupied; 3,110‑square‑foot building on a 6,000‑square‑foot lot; Four parking stalls accessed via a private dead‑end alley
