Listed by David W Petersen, Westlake Associates, Inc.
- 12,165
- Square feet
- $263
- Per sq ft
- Multi Family
- Type
- 1963
- Year built
- 17,493 sq ft
- Lot
- 227
- Days on market
About this property
Conveniently located just North of Seattle City limits, the Highland Terrace Apartments offers a new investor a great value add opportunity with the flexibility of raising below market rents without the hassles and constraints of Seattle Landlord/Tenant laws. The value add here is to renovate all units with modern finishes, raise rents to market and implement a RUBS program to start billing back tenants for utilities. Ample carport and open parking. Updated electrical panels and newer TPO Roof. Potential to add in-unit washer and dryers. Upper units feature private decks. Individual hot water tanks for each unit. New secured tenant mailbox unit. Larger owner storage closet onsite.
Location & commute
Add a destination, like work or the gym, for directions and drive time.
Jeff's Neighborhood Guide
Get to know the Richmond Beach/Shoreline area
Jeff's Seattle & Eastside Neighborhood Guide profiles 70 communities: the streets, shorelines, parks, markets, and local places that define each one. It is editorial, separate from the MLS listing data above.
Property details
Listing details
- Listing number
- #2594452
- Listed
- October 14, 2026
- Days on market
- 227 (includes a prior listing period)
- Price per sq ft
- $263
Unit & building
- Stories in building
- 2
- Units in building
- 15
Parking
- Covered spaces
- 18
- Total spaces
- 31
Construction
- Year built
- 1963
- Style
- 56 - 10+ Units
- Structure
- Multi Family
- Roof
- See Remarks
Heating & cooling
- Heating
- Baseboard
- Cooling
- None
- Energy source
- Electric
Lot
- Lot size
- 17,493 sq ft
Terms
- Terms offered
- CashConventional
Utilities
- Water
- Public
- Sewer
- Sewer Connected
Schools
- District
- Shoreline
Listing history
Listed
$3,200,000
October 14, 2026
Derived from current MLS listing fields.
Payment estimate
An estimate to help you plan, not a loan offer or financial advice.
Est. monthly
$18,634
- Principal & interest
- $16,181
- Property tax (est.)
- $2,453
Assumes $640,000 down (20%), a $2,560,000 loan at 6.5% over 30 years. Property tax is an estimated figure, not MLS data (verify with the county assessor). Excludes insurance, PMI, and closing costs. Not a commitment to lend or financial advice.
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Based on information submitted to the MLS GRID as of November 5, 2026 at 6:40 PM PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.