401 NE 40th Street, Seattle, WA 98105

Listing Firm: Kidder Mathews (360-705-2800). Listings with the three tree icon are courtesy of NWMLS.

401 NE 40th Street

Seattle, WA 98105

LISTING #2433143

REQUEST DETAILS SCHEDULE A SHOWING

$4,600,000

STATUS Pending

YEAR BUILT 1964

PROPERTY TYPE Residential Income

ABOUT THIS PROPERTY

A well maintained Multi-family asset in Seattle's walkable Wallingford neighborhood, one of the city's most coveted communities. Situated on a corner lot, the property is steps away from Lake Union, Gas Works Park and Burke Gilman Trail. On the market for the first time, featuring 15 units averaging 828 square feet. Most units offer views of Lake Union and all features large balconies. Secure entry, durable copper supply plumbing, cast iron drains and updated Square D electrical subpanels. 20 parking spaces (6 covered) large resident storage room and common laundry on two floors. A 5.3% cap rate on rents as of February 2026 (increase notice already sent) and current expenses with upside.

PROPERTY DETAILS

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Location Information

County King

Community Seattle

Latitude 47.655362

Longitude -122.324115

Directions Property is located on the triangular shaped land between NE Pacific St, NE 40th St and 4th Ave NE.

Subdivision Name Wallingford

Interior Features

Has Fireplace No

Number of Fireplaces 0

Heating Baseboard

Cooling None

Exterior Features

Style 10+ Units

Is New Construction Yes

Exterior Brick, Stucco, Wood

Roof Flat

Water Source Public

Septic or Sewer Sewer Connected

Covered Spaces 0

Power Production Type Electric

Lot Features Corner Lot, Curbs, Paved, Sidewalk

Lot Size in Acres 0.2448

Lot Size in Sq. Ft. 10,664

Building Total Area 15433 Square Feet

Has Waterfront No

Has View Yes

View Description Canal, City, Lake, Territorial

School

High School District Seattle

High School Lincoln High

Elementary School Green Lake

Jr. High School Hamilton Mid

Additional Information

Possession Closing, Subject To Tenant Rights

Property Type Residential Income

Property Subtype Multi Family

Structure Type Multi Family

Year Built 1964

Status Pending

Tax Year 2025

Tax Amount $44,158

Lot Acres Source King County

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