1527 -1529 NE 150th Street, Shoreline, WA 98155
- $1,200,000
- 6,437
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Paragon Real Estate Advisors.
- Sold Price
- $1,200,000
- List Price
- $1,600,000
- Status
- SOLD
- MLS#
- 2538293
- Closing Date
- Sep 03, 2026
- Days on Market
- 40
- Style
- 55 - 5-9 Units
- Finished SqFt
- 6,437
- Area Total SqFt
- 6437
- Annual Tax Ammount
- 17826
- Lot Size (sq ft)
- 16,218
- Sewer
- Available
Property Description
Shoreline Townhomes + SFH is a 6-unit investment opportunity located at 1527–1529 NE 150th Street in Shoreline, Washington. The property includes five 3-bedroom, 1.5-bathroom townhome units and one detached 2-bedroom, 1-bathroom single-family home, totaling 6,437 rentable square feet. Seller financing is available to qualified buyers at an attractive 4.5% interest-only rate with a 5-year term and 25% down payment. The investment presents a compelling value-add opportunity through a renovation program combined with favorable financing. Current rents average $1,101 per unit, approximately 50% below market rates for comparable Shoreline properties. By implementing upgrades and leveraging Washington State RCW statutes (59.18.200, 59.18.650, 59.18.440), tenants may be relocated with proper 120-day notice for permitted renovations. Upon completion, projected rents could increase scheduled gross income by over 90% at stabilized market levels. The property benefits from a strong location within Shoreline, with proximity to highly regarded schools including Shorecrest High School, Kellogg Middle School, Briarcrest Elementary, and Shoreline Christian School, all within one mile. This location supports long-term tenant demand and sustained rental growth.
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Additional Information
- List Date
- 2026-07-25 00:00:00
- Community
- Briarcrest
- Net Operating Income
- $15,783
- Gross Adjusted Income
- $75,297
- Gross Scheduled Income
- $79,260
- Total Monthly Income
- $6,605
- Insurance Expenses
- $7,151
- Water/Sewer/Garbage Expenses
- $14,819
- Gross Rent Multiplier
- 20.19
- Total Expenses
- $58,014
- Cap Rate
- 1
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 1527 -1529
- Potential Terms
- Cash, Conventional, Owner Will Carry
- Year Built
- 1977
- Roof
- Composition
- Other Expenses
- 18218
- Energy Source
- Electric
- School District
- Shoreline
- Total Monthly Income
- $6,605
- Gross Scheduled Income
- $79,260
- Vacancy Rate
- 5
- Gross Adjusted Income
- $75,297
- Tax Year
- 2026
- Insurance Expense
- $7,151
- W/S/G Expenses
- $14,819
- Total Expenses
- $58,014
- Net Operating Income
- $15,783
- Gross Rent Multiplier
- 20.19
- Cap Rate
- 1
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.