New ListingThis well-maintained five-unit apartment building presents a rare investment opportunity in Kirkland, where limited housing supply and strong rental demand support long-term value growth. Built in 1962 on a 10,000-square-foot PLA 6E-zoned lot, the property includes four renovated two-bedroom, one-bathroom units (850 SF each) and one fully renovated 450 SF studio. Over the past decade, units have been upgraded with LVP flooring, modern cabinetry, updated countertops, and renovated bathrooms, helping sustain strong tenant demand. The four two-bedroom units feature private balconies and in-unit washers and dryers, while the studio has a dedicated washer and dryer nearby. Each unit also includes a storage locker, currently provided at no charge, creating potential for additional income. Four covered parking spaces are likewise offered free to tenants, presenting further revenue upside. The property currently generates $11,875 per month in gross rental income and offers strong in-place cash flow with long-term stability. Located in Kirkland’s desirable Moss Bay neighborhood, it is within walking distance of Google’s Kirkland campuses, downtown Kirkland, Marina Park, restaurants, and shops. Nearby access to the Cross Kirkland Corridor and I-405 enhances connectivity to Bellevue and Seattle, supporting continued tenant demand and future rental growth.
| MLS # | 2570088 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1962 |
| Days On Site | 4 |
| Listing Provided By | Paragon Real Estate Advisors | Rowan Davis |
| SQ Feet | 3,850 |
|---|---|
| Story(s) | 3 |
| Units | 5 |
| Zoning | Multi-Family |
| Acreage | 0.23 |
| Property | 15635 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Kirkland |
| Zip Code | 98033 |
| Area | 560 Kirkland | Bridle Trails |
| Community Name | Moss Bay |
| Listing VS Median (in Moss Bay) | |
Price: $2,588,000 low | high Med: $1,249,998 sqft: 3,850 low | high Med: 1,541 $ / sqft: $672 low | high Med: $811 On site: 4 low | high Med: 23 | |
| State | WA |
|---|---|
| County | King |
| City | Kirkland |
| Zip Code | 98033 |
| Area | 560 Kirkland | Bridle Trails |
| Community Name | Moss Bay |
| Listing VS Median (in Moss Bay) | |
Price: $2,588,000 low | high Med: $1,249,998 sqft: 3,850 low | high Med: 1,541 $ / sqft: $672 low | high Med: $811 On site: 4 low | high Med: 23 | |
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