401 NE 40th Street, Seattle, WA 98105 (MLS # 2433143)
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Listing provided courtesy of Northwest MLS; Kidder Mathews
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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.
| LAST UPDATED | 9/12/2025 | TRACT | Wallingford |
|---|---|---|---|
| YEAR BUILT | 1964 | COMMUNITY | Wallingford |
| COUNTY | King | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| Elementary School | Green Lake |
|---|---|
| Jr. High School | Hamilton Mid |
| High School | Lincoln High |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | 705 - Ballard/Greenlake |
| CONSTRUCTION | Brick, Stucco, Wood Siding |
| HEAT | Baseboard, Electric |
| LOT | 10663 sq ft |
| LOT DESCRIPTION | Corner Lot, Curbs, Paved, Sidewalk |
| MLS STATUS | Active |
| STORIES | 3 |
| STYLE | 56 - 10+ Units |
| SUBDIVISION | Wallingford |
| TAXES | 44158 |
| UTILITIES | Sewer Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Canal, City, Lake, Territorial |
| WATER | Public |
| ZONING | Multi-Family |
| SATELLITE VIEW |
| / | |
Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 9/13/25 11:28 AM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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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