Kidder Mathews
About 401 Ne 40th Street
A well maintained Multi-family asset in Seattle's walkable Wallingford neighborhood, one of the city's most coveted communities. Situated on a corner lot, the property is steps away from Lake Union, Gas Works Park and Burke Gilman Trail. On the market for the first time, featuring 15 units averaging 828 square feet. Most units offer views of Lake Union and all features large balconies. Secure entry, durable copper supply plumbing, cast iron drains and updated Square D electrical subpanels. 20 parking spaces (6 covered) large resident storage room and common laundry on two floors. A 5.3% cap rate on rents as of February 2026 (increase notice already sent) and current expenses with upside.
Features of 401 Ne 40th Street
| MLS® # | 2433143 |
|---|---|
| Price | $4,600,000 |
| Bathrooms | 0.00 |
| Square Footage | 15,433 |
| Acres | 0.24 |
| Year Built | 1964 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 401 Ne 40th Street |
|---|---|
| Area | 705 - Ballard/Greenlake |
| Subdivision | Wallingford |
| City | Seattle |
| County | King |
| State | WA |
| Zip Code | 98105 |
Amenities
| Parking Spaces | 20 |
|---|---|
| View | Canal, City, Lake, Territorial |
| Is Waterfront | No |
Interior
| Heating | Baseboard |
|---|---|
| Cooling | None |
| Fireplace | No |
| # of Stories | 3 |
Exterior
| Exterior Features | Brick, Stucco, Wood |
|---|---|
| Lot Description | Corner Lot, Curbs, Paved, Sidewalk |
School Information
| District | Seattle |
|---|---|
| Elementary | Green Lake |
| Middle | Hamilton Mid |
| High | Lincoln High |
Additional Information
| Days on Market | 42 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Kidder Mathews |
|---|