Two-Unit Duplex with Private
New
For Sale
$820,000
3824 23rd Avenue SW, Seattle, WA 98106
Vacant at closing, the property offers separate homes with in-unit laundry hookups and individual garages.
Property Size2,440 SF
Price / SF$336.07
Days on Market2
Property Features for 3824 23rd Avenue SW
General Information
Standard status
Active
Size
2,440 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Net Operating Income
$37,720
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1.75BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,200
Amenities
private decks
in-unit laundry hookups
Laminate,Carpet
Yes
No
2
Electric
Public
0.1148
Wood Products
Poured Concrete
2440
Building Details
Building Size
2,440 SF
Year Built
1979
Stories
2
Listing Agency:
Windermere Real Estate/CIR
(503) 670-9000
Listed By:
Heidi Laske
(503) 840-0678
Source:
Premierepropertygroup
Added: Oct 7
Last Checked: Oct 7 at 2:12PM
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 Windermere Real Estate/CIR
Investment Insights
Based on property information with market context.
This 1979 duplex contains two 1,220-square-foot residences, for 2,440 square feet in total. Each home has two bedrooms, 1.75 bathrooms, a private deck, laundry hookups, and a single-car garage. Kitchens and bathrooms have been updated with stone countertops; the upper unit has LVP flooring. A replacement roof was installed in 2021, and the plumbing is copper. Both units are scheduled to be vacant at closing.
At 3824 23rd Avenue SW in Seattle, the property has access to Downtown Seattle via the West Seattle Bridge and is minutes from the West Seattle Junction and Alki Beach. The future Delridge Light Rail Station is within walking distance; construction is scheduled to start in 2027, with service expected in late 2032.
At 3824 23rd Avenue SW in Seattle, the property has access to Downtown Seattle via the West Seattle Bridge and is minutes from the West Seattle Junction and Alki Beach. The future Delridge Light Rail Station is within walking distance; construction is scheduled to start in 2027, with service expected in late 2032.
Key Highlights
- Two residences of 1,220 square feet each; 2,440 square feet combined
- Each unit has 2 bedrooms, 1.75 bathrooms, a private deck, laundry hookups, and a single‑car garage
- Roof replaced in 2021; copper plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,041
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,820
$880.8K
Cap Rate 7%
$629,157
$629.2K
Cap Rate 9%
$489,344
$489.3K
Market Conditions
NOI Build-Up for 2,440 SF
Gross rent
$65.9K $27.00/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$62.9K $25.79/SF
− OpEx
−$18.9K −$7.74/SF
NOI
$44.0K $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%
$880,820
Cap Rate 7%
$629,157
Cap Rate 9%
$489,344
Alternative Uses
Best Use
Multifamily LT 5
$629.2K
$550.5K – $734.0K
NOI $44,041 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$588.3K
$514.8K – $686.4K
NOI $41,182 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$734.1K
$642.3K – $856.4K
NOI $51,386 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,582
Businesses Nearby
Explore this area
Business Placement
Demographics for 98106, WA
26,295
Population
12,107
Households
2.2
Avg Household Size
37
Median Age
45%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,781
Density / Sq Mi
$115,529
Median Household Income
$60,223
Median Earnings
$1,824
Median Rent
$666,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant at closing, the property offers separate homes with in-unit laundry hookups and individual garages.
Where is this duplex located?
The property is located at 3824 23rd Avenue SW Seattle, WA.
What is the asking price?
The asking price for this property is $820,000.
What are key features of this property?
This property features: Two residences of 1,220 square feet each; 2,440 square feet combined; Each unit has 2 bedrooms, 1.75 bathrooms, a private deck, laundry hookups, and a single‑car garage; Roof replaced in 2021; copper plumbing
