12607 NE 119th Street, Kirkland, WA 98034
- $1,715,000
- 4,344
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Paragon Real Estate Advisors.
- Sold Price
- $1,715,000
- List Price
- $1,800,000
- Status
- SOLD
- MLS#
- 2447581
- Closing Date
- Feb 10, 2026
- Days on Market
- 48
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,344
- Area Total SqFt
- 4344
- Annual Tax Ammount
- 15445
- Lot Size (sq ft)
- 10,122
- Sewer
- Sewer Connected
Property Description
8 Unit multifamily property situated in the heart of Kirkland’s rapidly growing Totem Lake neighborhood. All large studio units, with lofted sleeping areas and in-unit washer and dryers. Offers a compelling value-add opportunity. With light renovations and strategic repositioning, investors have the potential to increase NOI by approximately 30%, capitalizing on the strong rental demand and premium achievable rents in this submarket. Its prime location and unique unit layouts provide a strong foundation for both immediate income and long-term appreciation.
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Additional Information
- List Date
- 2025-12-24 00:00:00
- Community
- Totem Lake
- Net Operating Income
- $86,115
- Gross Adjusted Income
- $139,670
- Gross Scheduled Income
- $147,021
- Total Monthly Income
- $12,252
- Insurance Expenses
- $5,974
- Water/Sewer/Garbage Expenses
- $11,307
- Gross Rent Multiplier
- 12.24
- Total Expenses
- $53,554
- Cap Rate
- 4.78
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 12607
- Potential Terms
- Cash, Conventional
- Year Built
- 1982
- Roof
- Composition
- Other Expenses
- 20828
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $12,252
- Gross Scheduled Income
- $147,021
- Vacancy Rate
- 5
- Gross Adjusted Income
- $139,670
- Tax Year
- 2025
- Insurance Expense
- $5,974
- W/S/G Expenses
- $11,307
- Total Expenses
- $53,554
- Net Operating Income
- $86,115
- Gross Rent Multiplier
- 12.24
- Cap Rate
- 4.78
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.