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Listed by:Paragon Real Estate Advisors • Ben Douglas
$ 1,600,000
Est. payment /mo
New
1529 -1529 NE 150th ST Shoreline, WA 98155
17 Beds
11 Baths
6,437 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,437 sqft
Price per Sqft $248
Subdivision Briarcrest
MLS Listing ID 2538293
Style 55 - 5-9 Units
Bedrooms 17
Year Built 1977
Annual Tax Amount $17,826
Lot Size 0.372 Acres
Property Sub-Type Multi Family
Property Description
Shoreline Townhomes + SFH is a 6-unit investment opportunity located at 1527–1529 NE 150th Street in Shoreline, Washington. The property includes five 3-bedroom, 1.5-bathroom townhome units and one detached 2-bedroom, 1-bathroom single-family home, totaling 6,437 rentable square feet. Seller financing is available to qualified buyers at an attractive 4.5% interest-only rate with a 5-year term and 25% down payment. The investment presents a compelling value-add opportunity through a renovation program combined with favorable financing. Current rents average $1,101 per unit, approximately 50% below market rates for comparable Shoreline properties. By implementing upgrades and leveraging Washington State RCW statutes (59.18.200, 59.18.650, 59.18.440), tenants may be relocated with proper 120-day notice for permitted renovations. Upon completion, projected rents could increase scheduled gross income by over 90% at stabilized market levels. The property benefits from a strong location within Shoreline, with proximity to highly regarded schools including Shorecrest High School, Kellogg Middle School, Briarcrest Elementary, and Shoreline Christian School, all within one mile. This location supports long-term tenant demand and sustained rental growth.
Location
State WA
County King
Area 715 - Richmond Beach/Shoreline
Interior
Flooring Laminate
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N No
Roof Type Composition
Building
Sewer Available
Water Public
New Construction No
Schools
School District Shoreline
Others
Senior Community No
Acceptable Financing Cash, Conventional, Owner Will Carry
Listing Terms Cash, Conventional, Owner Will Carry
"Three Trees" icon indicates a listing provided courtesy of NWMLS.