1401 W Bertona Street, Seattle, WA 98119

Property Description

Presenting the Fairseas Apartments, an eight unit multifamily property in the North Queen Anne neighborhood of Seattle. The asset delivers a 5.8% current cap rate on day one—a stabilized, high income-producing return in a submarket where most comparable listings are priced at sub-5.25% current yields. Six of the eight units have been fully renovated with market-quality finishes, including four 2BD/1BTH, one 1BD/1BTH, and one 1BD+Den/1BTH. The two original 1BD/1BTH units are occupied by long-term tenants paying below-market rents, representing significant upside to bring them to the same finish and rent tier as the rest of the building—without touching the renovated units or stabilized income. In-place renovated rents already reach $1,800 on the one bedroom, validating the finish level. The building also features a new Durolast roof and a full exterior refresh (paint, lighting, signage) within the last three years. It sits on an 8,400 SF LR3 RC (M) zoned lot with 12 on-site parking stalls in a walkable location: a short walk to Seattle Pacific University, the RapidRide D Line, and the retail and dining on 15th Avenue West, with direct commuter access to South Lake Union, Downtown Seattle, Ballard, and Fremont. North Queen Anne continues to benefit from supply-constrained multifamily stock and durable renter demand tied to SPU, the Fishermen's Terminal maritime cluster, and the Fremont tech corridor.

Listing Status:

Active

Data Last Updated:

June 14, 2026 at 5:20AM

Listing Office:

Paragon Real Estate Advisors : 206-623-8880

Listing Agent:

Michael Urquhart : 206-623-8880

MLS ID:

2531266

Interior

• Flooring: LaminateVinyl
• A/C: None
• Heating: Forced Air
• Fireplace: Fireplaces: 0

Exterior

• General: BrickWood Products
• Parking: Parking spaces: 12

Construction

• Roofing: Flat
• General: 55 - 5-9 UnitsBlockPoured Concrete

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Seattle
• County: King

Lot

• Zoning: 2770603680

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls