1401 W Bertona Street, Seattle, WA 98119 (MLS # 2531266)
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Listing provided courtesy of Northwest MLS; Paragon Real Estate Advisors
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Presenting the Fairseas Apartments, an eight unit multifamily property in the North Queen Anne neighborhood of Seattle. The asset delivers a 5.8% current cap rate on day one"”a stabilized, high income-producing return in a submarket where most comparable listings are priced at sub-5.25% current yields. Six of the eight units have been fully renovated with market-quality finishes, including four 2BD/1BTH, one 1BD/1BTH, and one 1BD+Den/1BTH. The two original 1BD/1BTH units are occupied by long-term tenants paying below-market rents, representing significant upside to bring them to the same finish and rent tier as the rest of the building"”without touching the renovated units or stabilized income. In-place renovated rents already reach $1,800 on the one bedroom, validating the finish level. The building also features a new Durolast roof and a full exterior refresh (paint, lighting, signage) within the last three years. It sits on an 8,400 SF LR3 RC (M) zoned lot with 12 on-site parking stalls in a walkable location: a short walk to Seattle Pacific University, the RapidRide D Line, and the retail and dining on 15th Avenue West, with direct commuter access to South Lake Union, Downtown Seattle, Ballard, and Fremont. North Queen Anne continues to benefit from supply-constrained multifamily stock and durable renter demand tied to SPU, the Fishermen's Terminal maritime cluster, and the Fremont tech corridor.
| LAST UPDATED | 6/1/2026 | TRACT | Queen Anne |
|---|---|---|---|
| YEAR BUILT | 1925 | COMMUNITY | Queen Anne |
| COUNTY | King | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 700 - Queen Anne/Magnolia |
| CONSTRUCTION | Brick, Wood Siding |
| HEAT | Electric, Forced Air |
| LOT | 8398 sq ft |
| MLS STATUS | Active |
| STORIES | 3 |
| STYLE | 55 - 5-9 Units |
| SUBDIVISION | Queen Anne |
| TAXES | 23139 |
| UTILITIES | Sewer Connected |
| WATER | Public |
| ZONING | Multi-Family |
| SATELLITE VIEW |
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Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 6/1/26 3:59 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.
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