1501 31st Ave S

• Stunning city skyline and mountain views from all units.
• Light-filled tastefully appointed units with upgraded kitchens and baths
• Local neighborhood amenities at the doorstep
• Potential for additional 6th unit
• Limited stock, there are only three other multifamily buildings in Mt Baker Ridge
• Seller Financing offered at 40% down for qualified Buyers

Property Description

The Lee & Associates Northwest | Multifamily Team is pleased to present a rare opportunity to acquire five units in the Mt. Baker Ridge neighborhood of Seattle. This pride of ownership property consists of two buildings a duplex and a triplex with four 2-bedroom units and an open 1-bedroom loft. All units feature skyline views, hardwood floors, upgraded kitchens and baths. The buildings share common laundry, off-street parking and mature landscaping. Well maintained, the buildings received updated wiring and electrical panels for all units, new roofs and a new water main in 2023. Identical structures, ownership added a permitted fifth unit in one and there is potential to convert the similar storage space in the second building to a sixth unit and additionally, serves a potential future redevelopment (buyer to verify). With only 36 multifamily units in the neighborhood, the Mt. Baker 5 experiences a stable rent roll with turnovers re-leased quickly, if not immediately. The Mt. Baker 5 offers buyers an opportunity to own in a coveted location offer high quality of life the potential to capitalize on the limited rental inventory with an additional unit.