Duplex with Two Composite
7741 1st Ave NE, Seattle, WA 98115
For Sale
$1,079,000
Legal duplex offering flexible living arrangements, separate access points, and a garage with an upper loft.
Property Size2,220 SF
Price / SF$486.04
Days on Market57
Property Features for 7741 1st Ave NE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
List4FlatFee.com, LLC
Listed By:
Stacie Whitfield · License WA #13147
(877) 364-5478
Source:
Withkristiandco
Added: Sep 19
Changed: Nov 2
Last Checked: Nov 12 at 1:48PM
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 List4FlatFee.com, LLC
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Investment Insights
Based on property information with market context.
This 2,220-square-foot legal duplex, built in 1925, combines updated interiors with retained original character. The property includes two separate addresses, a main residence, and a lower-level one-bedroom unit with its own electric meter, private entrance, and interior connection to the house. A separate studio room with a bathroom and exterior access adds further flexibility. Shared laundry serves the current layout, while the two new composite decks provide outdoor space for the main level and one-bedroom unit. A garage with an upper loft offers additional storage or workspace.
The property is in Seattle’s Green Lake neighborhood, with Green Lake Park, dining, transit, I-5, and Roosevelt Link Light Rail located minutes away. The combination of independent access, multiple lower-level spaces, and internal connections supports a range of living and occupancy arrangements, subject to buyer verification of uses, square footage, permits, and short-term rental eligibility.
The property is in Seattle’s Green Lake neighborhood, with Green Lake Park, dining, transit, I-5, and Roosevelt Link Light Rail located minutes away. The combination of independent access, multiple lower-level spaces, and internal connections supports a range of living and occupancy arrangements, subject to buyer verification of uses, square footage, permits, and short-term rental eligibility.
Key Highlights
- Legal duplex with two separate addresses
- 2,220 SF property built in 1925
- Lower‑level 1‑bedroom unit has a private entrance and separate electric meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,493
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$769,860
$769.9K
Cap Rate 7%
$549,900
$549.9K
Cap Rate 9%
$427,700
$427.7K
Market Conditions
NOI Build-Up for 2,220 SF
Gross rent
$57.3K $25.80/SF
− Vacancy
−$2.3K −$1.03/SF
EGI
$55.0K $24.77/SF
− OpEx
−$16.5K −$7.43/SF
NOI
$38.5K $17.34/SF
Area
ZIP 98115
Vacancy
3.99%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$769,860
Cap Rate 7%
$549,900
Cap Rate 9%
$427,700
Alternative Uses
Best Use
Multifamily LT 5
$549.9K
$481.2K – $641.6K
NOI $38,493 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$479.3K
$419.4K – $559.1K
NOI $33,548 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$889.2K
$778.0K – $1.04M
NOI $62,242 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
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Business Placement
Demographics for 98115, WA
54,322
Population
24,966
Households
2.2
Avg Household Size
36
Median Age
78%
College-Educated
99%
High-School Grad
6.6 sq mi
ZIP Area
8,231
Density / Sq Mi
$148,190
Median Household Income
$82,332
Median Earnings
$2,118
Median Rent
$1,041,500
Median Home Value
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Market
Average Price Trend$/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 duplex offering flexible living arrangements, separate access points, and a garage with an upper loft.
Where is this duplex located?
The property is located at 7741 1st Ave NE Seattle, WA.
What is the asking price?
The asking price for this property is $1,079,000.
What are key features of this property?
This property features: Legal duplex with two separate addresses; 2,220 SF property built in 1925; Lower‑level 1‑bedroom unit has a private entrance and separate electric meter
