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Open Tue, Jun 2 +1
Open Sat, Jun 6$2,550,000
Est. $12,934/mo1401 W Bertona Street, Seattle, WA 98119
• Listed 2026-06-01•New today
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Based on information submitted to the MLS GRID as of June 1, 2026 at 10:54 AM PDT (date and time MLS GRID Data was obtained). 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.
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Presenting the Fairseas Apartments, an eight unit multifamily property in the North Queen Anne neighborhood of Seattle. The asset delivers a 5.8% current cap rate on day one—a stabilized, high income-producing return in a submarket where most comparable listings are priced at sub-5.25% current yields. Six of the eight units have been fully renovated with market-quality finishes, including four 2BD/1BTH, one 1BD/1BTH, and one 1BD+Den/1BTH. The two original 1BD/1BTH units are occupied by long-term tenants paying below-market rents, representing significant upside to bring them to the same finish and rent tier as the rest of the building—without touching the renovated units or stabilized income. In-place renovated rents already reach $1,800 on the one bedroom, validating the finish level. The building also features a new Durolast roof and a full exterior refresh (paint, lighting, signage) within the last three years. It sits on an 8,400 SF LR3 RC (M) zoned lot with 12 on-site parking stalls in a walkable location: a short walk to Seattle Pacific University, the RapidRide D Line, and the retail and dining on 15th Avenue West, with direct commuter access to South Lake Union, Downtown Seattle, Ballard, and Fremont. North Queen Anne continues to benefit from supply-constrained multifamily stock and durable renter demand tied to SPU, the Fishermen's Terminal maritime cluster, and the Fremont tech corridor.
Listed by Michael Urquhart • Paragon Real Estate Advisors
Listing updated: June 1, 2026 at 10:54am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2531266
Open houses
No upcoming open houses scheduled for this property.
Nearby open houses (2)
See more →Open Tue, Jun 2 +1Open Sat, Jun 65 recent nearby sales, priced between $130K and $399K.
$385,000Last sold price
1525 Nw 57th Street #316, Seattle, WA 98107
$399,000Last sold price
1545 Nw 57th Street #505, Seattle, WA 98107
$130,000Last sold price
1818 Westlake Avenue N #d1, Seattle, WA 98109
$15,485 per month
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Seattle is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 40 days.
$640,130 Sold
4 weeks ago
•Single Family
2611 3rd Avenue W, Seattle, WA 98119
8%
Under list
—
Days on market
0.8 mi
Distance
$929,000 Sold
5 weeks ago
3 bd•2 ba•~1,740 sq ft•Single Family
2016 14th Avenue W, Seattle, WA 98119
0%
Over list
—
Days on market
0.9 mi
Distance
$2,410,000 Sold
5 weeks ago
5 bd•1.5 ba•~3,270 sq ft•Single Family
807 W Armour Street, Seattle, WA 98119
2%
Under list
—
Days on market
0.5 mi
Distance
$1,020,000 Sold
6 weeks ago
4 bd•3 ba•~1,764 sq ft•Single Family
2538 14th Avenue W #a, Seattle, WA 98119
18%
Under list
—
Days on market
0.6 mi
Distance
$1,120,000 Sold
4 months ago
4 bd•1 ba•~1,710 sq ft•Single Family
2554 3rd Avenue W, Seattle, WA 98119
2%
Over list
—
Days on market
0.9 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data via RentCast · Updated Jun 2026
Schools shown are the nearest public Elementary, Middle, and High school for this property. School district boundaries change — verify the assigned school with the district before purchasing.
