$2,450,000
712 N 143rd Street, Seattle, WA 98133
10,280 Sq Ft
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MLS #2555010 / Listing provided by NWMLS & Paragon Real Estate Advisors.

$2,450,000

712 N 143rd Street
Seattle, WA 98133

Active 22 hours ago
10,280
Sq Ft
$238
Per Sq Ft
1983
Year Built

The property sits in one of North Seattle’s fastest-improving rental corridors. The location is further supported by Sound Transit’s new Shoreline South/148th light rail station and direct bus access to downtown Seattle. The offering represents an operational value-add opportunity. The asset is in good physical condition, bolstered by recent capital improvements including a new TPO membrane roof (2023), upgraded electrical panels (2024), and replaced window panes (2025). With the option to upgrade units on turnover and capture premium rents as leases roll, and with scheduled rents below market and no utility bill-back currently in place, a new ownership group can grow income through natural lease turnover, selective unit upgrades, and the implementation of a utility recapture program, meaningfully lifting NOI. At market operations, the offering achieves a 7.4% cap rate and a 9.7% cash-on-cash return, giving new ownership strong performance upside as rents are brought up to market. At just $238 per square foot and $175,000 per door, the property presents an exceptional basis for a 1980s-built asset, well below recent comparable sales in the area. Current in-place rents average $1,205 for the eleven one-bedroom units and $1,617 for the three two-bedroom units, while comparable properties in the area are achieving approximately $1,550 and $1,875.

Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.

Interior Features

Bedrooms

  • Upper Level Bedrooms: 0

Fireplaces

  • Total Fireplaces: 0

Heating & Cooling

  • Heating: Yes
  • Cooling: No
Exterior Features

Parking

  • Garage Spaces: 0
  • Parking Total: 11
  • Total Uncovered Parking Spaces: 6

Structure

  • Roof: Composition, Flat
  • Exterior Features: See Remarks
  • Foundation: Poured Concrete

Lot Details

  • Acres: 0.2287
  • Foundation: Poured Concrete
Area Features

Schools

  • High School District: Seattle

Lot Details

  • Acres: 0.2287
  • Foundation: Poured Concrete
Utilities

Power

  • Energy Source: Electric

Water, Sewer, and Garbage

  • Sewer: Available
  • Water Source: Public
  • Water, Sewer, and Garbage: 19050
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