4738 17th Ave NE, Seattle, WA
0 bd · 0 ba · 5,186 sqft Multi-Family listed at $2,600,000, built in 1909 in the University District neighborhood.
About this home
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.
Property details
- Price
- $2,600,000
- Bedrooms
- 0
- Bathrooms
- 0
- Interior
- 5,186 sqft
- Price / sqft
- $501
- Year built
- 1909
- Lot size
- 4,321 sqft
- Type
- Multi-Family
- Days on market
- 238
- Est. property tax
- $24,180/yr · $2,015/mo · 0.93% WA avg
Estimated monthly payment
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Price history
- Aug 30, 2025$2,600,000Initial list price
- Aug 29, 2025$2,600,000Initial list price
- Dec 27, 2006$925,000Sold
- Dec 14, 1990$300,000Sold
- Aug 17, 1979$165,000Sold
Location
This home is located in Seattle, WA. Browse more Seattle listings on the Seattle market page or explore the full Seattle market report.
Home Intelligence
Neighborhood (zip 98105)
This neighborhood skews young (median age 24.3) and is primarily renter-occupied (32% owner-occupied). 38% hold a bachelor's degree; median household income is $75,214.
- Median income
- $75,214
- Median age
- 24.3
- Owner-occupied
- 31.8%
- Bachelor's degree
- 38.1%
- Census median home value
- $1,253,600
Source: US Census Bureau American Community Survey 5-year estimates.
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