4738 17th Avenue Ne, Seattle, WA 98105
Local realty services provided by:Better Homes and Gardens Real Estate Northwest Home Team
Listed by: matt townsend
Office: windermere real estate co.
MLS#:2427494
Source:NWMLS
4738 17th Avenue Ne,Seattle, WA 98105
$2,600,000
- - Beds
- 5 Baths
- 5,186 sq. ft.
- Multi-family
- Active
Price summary
- Price:$2,600,000
- Price per sq. ft.:$501.35
About this home
Clear & Present 8.0 Cap Rate ~ Welcome to Madison Manor. Quintessential high occupancy/ high cap/ low cost UW Greek Row 18-Unit. Leased to same group w/ zero vacancy 5+ years & pre-leased till August 2027 w/ All Deposits & Cosigners. Numbers shown in Listing are 2025 actual. Exemplary condition: four levels sprinkler system serviced yearly, all newer double windows, commercial furnace 2022, all copper inside, good electrical panel/ wiring/ roof/ commercial water tank, RRIO certified by city Dec 2023, pro exterior paint 2019, new kitchens & baths & flooring 2020, full Inspection Reports available. Madison Manor retains 80+% of GSI year after year, by UW Main Entrance w/ prestige of high demand for 17th Boulevard Greek Row. Smart groups seek the giant front porch & formal entry hall, high ceilings & heavy wood trim, grand box beam living room adjacent to main kitchen, wide staircases & open landings, 2nd Kitchen/ 2nd Entry for Duplex Use, paved alley w/ 4 parking stalls, etc. Key Factor is Room Size: 3 medium + 15 giant Bedroom's, some 200+ sqft, some w/ dual sleeping alcoves, all to attract & retain this proven 2025-2026-2027 $1192/m per unit. Prior 2025 Buyer applied for 25% Down; was approved @ 40% Down/ 7.0% IR fixed for 30 yrs. This DSCR Loan is appraised & avail to you = turn key 8-10% cash flow & ROI. Other comm loans avial too. It's unusual to see zero vacancy & NOI at 80% over five years, for Madison Manor it's business as usual by the University....
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Home facts
- Year built:1909
- Listing ID #:2427494
- Updated:March 26, 2026 at 07:43 PM
Rooms and interior
- Total bathrooms:5
- Flooring:Carpet, Vinyl Floor, Vinyl Plank
- Living area:5,186 sq. ft.
Heating and cooling
- Heating:Forced Air
Structure and exterior
- Roof:Composition, Torch Down
- Year built:1909
- Building area:5,186 sq. ft.
- Lot area:0.1 Acres
- Lot Features:Alley, Curbed Lot, Paved, Sidewalk
- Construction Materials:Wood Exterior Finish
- Exterior Features:Fenced-Partially, Sprinkler System
Utilities
- Water:Public
- Sewer:Sewer Connected
Finances and disclosures
- Price:$2,600,000
- Price per sq. ft.:$501.35
- Tax amount:$16,063 (2025)
Features and amenities
- Amenities:Gas Available, High Speed Internet
Parking
- Total parking spaces:4
- Parking description:Uncovered Space(s) : 4
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