401 NE 40th Street, Seattle, WA 98105

Property Description

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.

Listing Status:

Pending

Data Last Updated:

July 5, 2026 at 12:19AM

Listing Office:

Kidder Mathews : 360-705-2800

Listing Agent:

Dan Swanson : 360-705-2800

MLS ID:

2433143

Interior

• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0
• Eco/Green Feature: Thermal Windows

Exterior

• General: BrickStuccoWood

Construction

• Roofing: Flat
• General: 56 - 10+ Units

Location

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

Lot

• Zoning: 4206900915
• View: CanalCityLakeTerritorialView

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls