Date
Details
Price
Change
Source
9/12/2025
Listed
$4,600,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/24
$4,600,000
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1/24
Property Description
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.
Full Property Details
Full Property Details for 401 NE 40th St
General
- Price: $4,600,000
- Taxes: $44,158 (2025)
- Status: Active
- Type: Multi-Family
- Source: NWMLS
- MLS ID: 2433143
- Updated: 12/1/2025
- Added to Site: 130 day(s) ago
Parking
- Carport Spaces: 6
- Uncovered Spaces: 14
Location
- Area: 705 - Ballard/Greenlake
- County: King
- Subdivision: Wallingford
- Driving Directions: Property is located on the triangular shaped land between NE Pacific St, NE 40th St and 4th Ave NE.
School Information
- High School District: Seattle
- Elementary School: Green Lake
- Middle School: Hamilton Mid
- High School: Lincoln High
Heating & Cooling
- Cooling Type: None
- Heating Type: Baseboard
Utilities
- Sewer: Sewer Connected
- Water: Public
Structural Information
- Structure Type: Multi Family
- Exterior Const.: Brick, Stucco, Wood
- Roof: Flat
- Stories in Building: 3
- Square Feet: 15,433
- Year Built: 1964
Unit Information
- Units in Building: 15
Lot Features
- Property View: Canal, City, Lake, Territorial
- Lot Size (Acres): 0.2448
- Lot Size (Sq. Ft.): 10,664
- Lot Size Source: King County
- Lot Features: Corner Lot, Curbs, Paved, Sidewalk
- Zoning: Multi-Family
Green Features
- Energy Efficient: Thermal Windows
Financial Considerations
- Tax Amount: $44,158
- Tax Year: 2025
- Terms: Cash Out, Conventional
Disclosures and Reports
- Special Conditions: None
- Property ID: 4206900915
Listed by Dan Swanson | Kidder Mathews | (360) 705-2800
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Schools
Schools serving 401 NE 40th St
School District:Seattle School District
| Name | Grades | Distance |
|---|---|---|
Green Lake Elementary School 2400 North 65th Street, Seattle, WA 98103 | PK-5 | 1.5 mi |
Hamilton International Middle School 1610 North 41st Street, Seattle, WA 98103 | 6-8 | 0.7 mi |
Lincoln High School, Seattle, WA 4400 Interlake Avenue North, Seattle, WA 98103 | 9-12 | 0.8 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 401 NE 40th St
Tax History
Tax History for 401 NE 40th St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$52,886
—
$4,805,000
-17%
2024
$52,886
8%
$5,796,000
—
2022
$49,083
-11%
$5,796,000
5%
2021
$55,306
—
$5,527,000
-4%
2021
$55,306
1%
$5,748,000
—
2020
$54,799
24%
$5,757,000
12%
2019
$44,061
-3%
$5,132,000
11%
2018
$45,513
14%
$4,608,000
10%
2017
$39,990
13%
$4,181,000
16%
2016
$35,369
18%
$3,601,000
16%
2015
$29,985
-3%
$3,116,000
8%
2014
$30,789
—
$2,896,000
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 401 NE 40th St
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- Active
- Updated 1 day ago
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- Single Family
- Active
- Updated 3 days ago
- 5Beds
- 5Total Baths
- 5,263Sq. Ft.
Listed by Nicholas Loveless | Windermere R.E. Northeast, Inc
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- Updated 3 days ago
- 2Beds
- 3Total Baths
- 1,321Sq. Ft.
Listed by Ryan Gillis | Gillis Real Estate LLC
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- Industrial
- Closed
Listed by Don Hines and Rocky Flowers
Sold by Tyler Smith | Northmarq Multifamily, LLC and Steve Fischer | Northmarq Multifamily, LLC
Sold by Tyler Smith | Northmarq Multifamily, LLC and Steve Fischer | Northmarq Multifamily, LLC
- Single Family
- Closed
- 6Beds
- 5Total Baths
- 6,480Sq. Ft.
Listed by Deirdre G. Doyle | Windermere Real Estate Midtown and Kristin Ellis | Windermere Real Estate Midtown
Sold by Bob Bennion | Compass and Mary P. Snyder | Compass
Sold by Bob Bennion | Compass and Mary P. Snyder | Compass
- Single Family
- Closed
- 6Beds
- 6Total Baths
- 7,234Sq. Ft.
Listed by Leslie Dickinson | Realogics Sotheby's Int'l Rlty
Sold by Carmen Gayton | Windermere Real Estate Co.
Sold by Carmen Gayton | Windermere Real Estate Co.
- Single Family
- Closed
- 4Beds
- 4Total Baths
- 4,550Sq. Ft.
Listed by Joel Scott | Windermere Real Estate/East and Jane E. Lindsay-Scott | Windermere Real Estate/East
Sold by Summer Carlton | Realogics Sotheby's Int'l Rlty
Sold by Summer Carlton | Realogics Sotheby's Int'l Rlty
401 NE 40th Street, Seattle, WA 98105 (MLS# 2433143) is a Multi-Family property with 15 units containing 0 bedrooms and 0 full bathrooms. 401 NE 40th Street is currently listed for $4,600,000 and was received on September 12, 2025. Want to learn more about 401 NE 40th Street? Do you have questions about finding other Multi-Family real estate for sale in Seattle? You can browse all Seattle real estate or contact a Coldwell Banker agent to request more information.