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Listed by:Paragon Real Estate Advisors • Ben Douglas
$1,995,000
Est. payment /mo
8 Beds
4 Baths
4,150 SqFt
New
16 147th AVE SE Bellevue, WA 98007
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,150 sqft
Price per Sqft $480
Subdivision Crossroads
MLS Listing ID 2522417
Style 54 - 4-Plex
Bedrooms 8
HOA Fees $516/ann
Year Built 1969
Annual Tax Amount $12,454
Lot Size 8,178 Sqft
Lot Dimensions 8,178
Property Sub-Type Multi Family
Property Description
Seller Financing is available for qualified buyers, with terms of 25% down, 5-year term, and 5% interest-only payments. The Bellevue Fourplex consists of four spacious two-bedroom, one-bathroom units averaging 1,038 square feet each, with a total net rentable area of 4,150 square feet on an 8,178 square foot lot. Each unit features in-unit washers and dryers, double-pane vinyl windows, and an attached garage, with tenants responsible for all utilities. The property has been meticulously maintained, including an approximately eight-year-old TPO membrane roof. Current rents average $2,168 per unit, while market rents are $2,500 per unit, presenting a new owner with immediate rental upside through light interior renovations. The property benefits from proximity to Kelsey Creek Center, a well-established neighborhood retail hub. Anchored by a mix of grocery, dining, and service-oriented tenants, the center enhances day-to-day livability and serves as a strong amenity for residents, supporting long-term tenant demand and overall appeal. Ideally located just minutes from Downtown Bellevue, T-Mobile headquarters, Microsoft's Redmond campus, and with quick access to I-90 and I-405, the Bellevue Fourplex offers a compelling combination of location, in-place income, and rental upside in a market defined by limited supply and strong tenant demand.
Location
State WA
County King
Area 530 - Bellevue/East Of 405
Interior
Flooring Laminate, Carpet
Fireplace false
Exterior
Exterior Feature Brick, Wood Products
Garage Spaces 4.0
View Y/N No
Roof Type Flat
Building
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Bellevue
Others
Senior Community No
Acceptable Financing Assumable, Cash, Owner Will Carry
Listing Terms Assumable, Cash, Owner Will Carry
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
NEARBY SCHOOL & BUSINESS
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