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About the Listing 7086 - 120656,155963
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.
Listing Highlights
Status
Active
Days on Site
1
Property Type
Multi-Family
MLS ®
2555010
Year Built
1983
Total Square Footage
10,280
Lot/Acreage
0.23
Interior Details
- Bedrooms: 17
- Bathrooms: 14 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces: 0
- Floor: Laminate,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Zoning: Multi-Family
- Garage Capacity: N/A
- Parking Spaces: 11
- Zoning: Multi-Family
- Roof: Composition,Flat
- Others: See Remarks
- Sewer: Available
Financial Details
- Tax Amount: $30,563
- Taxes w/Assessments: N/A
- Tax/Property ID: 1926049283
- Tax Year: 2026
Payment Calculator
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Questions About..
712 N 143rd St Seattle, WA 98133
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