Multifamily Property with Garage
For Sale
$919,997
38181 Se Northern St, Snoqualmie, WA 98065
Duplex-style configuration includes separate entrances and an additional finished living space with its own kitchen and bathroom.
Property Size2,260 SF
Price / SF$407.08
Days on Market69
Property Features for 38181 Se Northern St
General Information
Standard status
Active
Size
2,260 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$90,000
Building Details
Year Built
1948
Listing Agency:
RE/MAX Equity Group
Listed By:
Lorna Murray · License #880400197
(503) 680-1221
Source:
Seattlepropertysource
Added: Aug 11
Changed: Oct 3
Last Checked: Oct 16 at 9:13AM
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 RE/MAX Equity Group
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Investment Insights
Based on property information with market context.
Located at 38181 SE Northern St in Snoqualmie, this 2,260-square-foot multifamily property was built in 1948 and is arranged in a duplex-style configuration with separate entrances. The property contains 7 bedrooms and 3 bathrooms, along with laundry hookups serving each living space.
A finished garage conversion adds a one-bedroom living area with a full kitchen and bathroom. The layout also supported separate occupancy of individual portions, and the property includes updated siding and a newer roof installed approximately one year ago. The buyer is responsible for verifying permitted uses and intended occupancy arrangements.
A finished garage conversion adds a one-bedroom living area with a full kitchen and bathroom. The layout also supported separate occupancy of individual portions, and the property includes updated siding and a newer roof installed approximately one year ago. The buyer is responsible for verifying permitted uses and intended occupancy arrangements.
Key Highlights
- 2,260‑square‑foot multifamily property in Snoqualmie
- 7 bedrooms and 3 bathrooms
- Duplex‑style layout with separate entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,118
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$762,360
$762.4K
Cap Rate 7%
$544,543
$544.5K
Cap Rate 9%
$423,533
$423.5K
Market Conditions
NOI Build-Up for 2,260 SF
Gross rent
$57.6K $25.50/SF
− Vacancy
−$3.2K −$1.41/SF
EGI
$54.5K $24.09/SF
− OpEx
−$16.3K −$7.23/SF
NOI
$38.1K $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%
$762,360
Cap Rate 7%
$544,543
Cap Rate 9%
$423,533
Alternative Uses
Best Use
Multifamily LT 5
$544.5K
$476.5K – $635.3K
NOI $38,118 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$501.8K
$439.1K – $585.5K
NOI $35,127 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$905.2K
$792.0K – $1.06M
NOI $63,363 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
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Business Placement
Demographics for 98065, WA
16,292
Population
5,681
Households
2.9
Avg Household Size
36
Median Age
64%
College-Educated
99%
High-School Grad
70.4 sq mi
ZIP Area
231
Density / Sq Mi
$182,132
Median Household Income
$94,019
Median Earnings
$3,052
Median Rent
$890,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Duplex-style configuration includes separate entrances and an additional finished living space with its own kitchen and bathroom.
Where is this multifamily property located?
The property is located at 38181 Se Northern St Snoqualmie, WA.
What is the asking price?
The asking price for this property is $919,997.
What are key features of this property?
This property features: 2,260‑square‑foot multifamily property in Snoqualmie; 7 bedrooms and 3 bathrooms; Duplex‑style layout with separate entrances
