REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Diana Ferguson

fergusondiana@gmail.com +1(503) 756-4738

Listed by:Windermere Real Estate Co. • Matt Townsend

$2,600,000

Est. payment - /mo

18 Beds

3.75 Baths

5,186 SqFt

Save

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Pending

Purchase Type For Sale

Square Footage 5,186 sqft

Price per Sqft $501

Subdivision University District

MLS Listing ID 2425609

Style 15 - Multi Level

Bedrooms 18

Year Built 1909

Annual Tax Amount $16,063

Lot Size 4,320 Sqft

Lot Dimensions 40 x 108

Property Sub-Type Single Family Residence

Property Description

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 avail 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.

Location

State WA

County King

Area 710 - North Seattle

Rooms

Basement Finished

Main Level Bedrooms 5

Interior

Interior Features Second Kitchen, Dbl Pane/Storm Window, High Tech Cabling, Walk-In Closet(s), Water Heater

Flooring Vinyl, Vinyl Plank, Carpet

Fireplace false

Appliance Dishwasher, Dryer, Refrigerator, Stove(s)/Range(s), Washer

Exterior

Exterior Feature Wood

Amenities Available Fenced-Partially, Gas Available, High Speed Internet, Sprinkler System

View Y/N Yes

View Mountains, Territorial

Roof Type Composition,Torch Down

Building

Lot Description Alley, Curbs, Paved, Sidewalk

Story Multi/Split

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Read Less Info

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

4738 17th AVE NE Seattle, WA 98105