About this property

Fully occupied and income-producing Seattle triplex offering immediate cash flow with stable, in-place rents and strong upside potential. This well-maintained asset features one-year leases with reliable tenants, delivering predictable income and consistent occupancy from day one. Currently operating at a 4.35% cap rate, the property presents a clear value-add opportunity through utility restructuring and operational efficiencies, with a projected pro forma cap rate of approximately 6.63% at the current list price. The property also includes SIX off-alley parking spaces, a rare and valuable amenity in this area, providing added tenant convenience and potential for increased rental appeal or additional income. Ideally positioned in the sought-after Rainier Valley corridor between Hillman City and Brighton, this location offers excellent access to Rainier Ave S, I-5, I-90, light rail and bus lines, as well as nearby cafés, parks, schools, and major employment centers. A turnkey investment suited for local, out-of-area, or 1031 exchange buyers seeking immediate revenue, long-term appreciation, and a clear NOI growth strategy in one of Seattle’s most dynamic rental corridors. Buyer to comply with all Washington and Seattle tenant protection laws and honor existing leases. Financials, rent roll, and maintenance records available upon request.