2224 NE 197th Place, Shoreline, WA 98155
- $1,299,950
- 3,382
- SqFt
Listing courtesy of Windermere Real Estate JS.
- List Price
- $1,299,950
- Status
- ACTIVE
- MLS#
- 2543003
- Days on Market
- 263
- Style
- 54 - 4-Plex
- Building Condition
- Very Good
- Finished SqFt
- 3,382
- Area Total SqFt
- 3382
- Annual Tax Ammount
- 10040
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 8,297
- Sewer
- Sewer Connected
Property Description
Exceptional Investment Opportunity in Shoreline! Discover this beautifully updated 4-plex located just minutes from the new Shoreline light rail station—a prime location offering unmatched convenience and long-term growth potential. Each of the four units has been thoughtfully renovated with modern finishes, creating stylish, low-maintenance living spaces that attract and retain quality tenants. All 4 units fully updated with updated kitchens, bathrooms, flooring, and fixtures. Strong rental history – every unit is currently leased. Short distance to the new light rail, I-5, shopping, parks, Lake Forest Park and Edmonds.
Additional Information
- List Date
- 2025-11-07 13:58:11
- Community
- Ballinger
- Net Operating Income
- $21,431
- Gross Adjusted Income
- $62,869
- Gross Scheduled Income
- $84,300
- Total Monthly Income
- $7,025
- Insurance Expenses
- $2,544
- Water/Sewer/Garbage Expenses
- $5,907
- Gross Rent Multiplier
- 15
- Total Expenses
- $21,431
- Cap Rate
- 5
- Vacancy Rate
- 25
- Total Number of Units
- 4
- Unit Name
- 2224
- Potential Terms
- Cash, Conventional, FHA
- Year Built
- 1978
- Roof
- Composition, See Remarks
- Site Features
- Cable TV, Deck, Fenced-Fully, High Speed Internet
- Electric Expenses
- 840
- Other Expenses
- 2100
- Energy Source
- Electric
- School District
- Shoreline
- Elementary School
- Lake Forest Park Ele
- Middle School
- Kellogg Mid
- High School
- Shorecrest High
- Total Monthly Income
- $7,025
- Gross Scheduled Income
- $84,300
- Vacancy Rate
- 25
- Gross Adjusted Income
- $62,869
- Tax Year
- 2026
- Insurance Expense
- $2,544
- W/S/G Expenses
- $5,907
- Total Expenses
- $21,431
- Net Operating Income
- $21,431
- Gross Rent Multiplier
- 15
- Cap Rate
- 5
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.