4731 12th Avenue NE, Seattle, WA 98105 (MLS # 2543808)
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The Laureate presents a rare opportunity to acquire a well-maintained 23-unit multifamily asset building in the heart of the Seattle's University District neighborhood and walking distance to both the University of Washington and the Link Light Rail Station. Originally built in 1961, the property benefits from recent extensive capital improvements and interior renovations, positioning the asset as a compelling combination of stable in-place income and future revenue growth potential. Ownership has invested significantly in the systems over the past 5 years: including a membrane roof replacement, replacement of all individual hot water tanks, securing and gating the parking for 17 vehicles, as well as overhauling the sprinkler system. Featuring a unit mix of 20 sizable 650 SF, 1-bedroom units and one 800 SF, 2-bedroom unit, select units have been renovated with modern finishes including luxury vinyl plank flooring, updated kitchens, stainless steel appliances, including dishwashers and in-unit W/D installations. All units feature A/C, and 1st floor units include patio access. The existing renovations provide future ownership with a blueprint to continue remodeling unit interiors and capture additional rental upside. Additionally, there is potential to assume the current debt with term through 2031.
| LAST UPDATED | 6/22/2026 | TRACT | University District |
|---|---|---|---|
| YEAR BUILT | 1961 | COMMUNITY | University District |
| GARAGE SPACES | 17.0 | COUNTY | King |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 710 - North Seattle |
| CONSTRUCTION | Wood Siding |
| GARAGE | Yes |
| HEAT | Baseboard, Electric |
| LOT | 7501 sq ft |
| LOT DESCRIPTION | Paved, Sidewalk |
| MLS STATUS | Active |
| STORIES | 3 |
| STYLE | 56 - 10+ Units |
| SUBDIVISION | University District |
| TAXES | 47556 |
| UTILITIES | Sewer Connected |
| WATER | Public |
| ZONING | Multi-Family |
| SATELLITE VIEW |
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Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 6/23/26 7:05 AM 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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