10550 Midvale Avenue N, Seattle, WA 98133

$1,250,000
3,072
SqFt

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Listing Broker: Cascade Properties & Invest.; Lisa A Scivally; 425-628-0631; lisa@cpiwa.com

List Price
$1,250,000
Status
ACTIVE
MLS#
2602304
Style
54 - 4-Plex
Finished SqFt
3,072
Area Total SqFt
3072
Lot Size (sq ft)
7,350

Property Description

Situated in Seattle's Haller Lake neighborhood, this fantastic 4 unit multifamily building benefits from a North Seattle location that connects residential living with convenient access to shopping, employment, transportation, and neighborhood services. The unit mix includes four 2 bedroom 1 bath apartment homes with coin-op laundry onsite. 4 dedicated covered carports + 4 additional off-street parking. All units nicely updated with new interior paint, updated LVP flooring, with some updated cabinets and counters and baths. Full exterior paint and decks in 2023 and new roof 2024. The surrounding area provides access to Northgate shopping, great commuting options @ Aurora Ave North and Highway 99 and I-5 and Northgate Station and regional light rail connections. Convenient nearby neighborhood restaurants, cafés, and everyday conveniences & local parks and green spaces. This combination can appeal to renters who want access to Seattle's employment and commercial centers without necessarily living in a dense downtown apartment community. The City of Seattle's Northgate Regional Center Plan further illustrates the city's long-term vision for growth, housing, transportation, and neighborhood improvements. For multifamily investors, these changes matter because neighborhood investment, accessibility, and employment opportunities can contribute to long-term rental demand.

Additional Information

List Date
2026-11-09 19:43:13
Community
Haller Lake
Net Operating Income
$61,464
Gross Adjusted Income
$91,260
Gross Scheduled Income
$91,260
Total Monthly Income
$7,605
Insurance Expenses
$3,000
Water/Sewer/Garbage Expenses
$4,384
Gross Rent Multiplier
13.69
Total Expenses
$29,796
Cap Rate
4.92
Total Number of Units
4
Unit Name
10550
Potential Terms
Cash, Conventional
Year Built
1959
Roof
Flat
Site Features
Cable TV, Deck, Fenced-Fully, Patio
Electric Expenses
1183
Other Expenses
9662
Energy Source
Electric
School District
Seattle
Total Monthly Income
$7,605
Gross Scheduled Income
$91,260
Gross Adjusted Income
$91,260
Tax Year
2026
Insurance Expense
$3,000
W/S/G Expenses
$4,384
Total Expenses
$29,796
Net Operating Income
$61,464
Gross Rent Multiplier
13.69
Cap Rate
4.92
Based on information submitted to the MLS GRID as of . 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.

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