401 NE 40th St

Seattle, WA 98105

$4,600,000
Price
21
Beds
18
Baths
15,433 Sq. Ft.
$298 / Sq. Ft.
15,433
Sq. Ft.
$298
per Sq. Ft.
a car parked in front of a building
a view of a brick house with a yard and large trees
a car parked in front of a house with large trees
a car parked in front of a building
a view of a house with wooden fence
a view of a building and front view of a house
an empty room with wooden floor and windows
a view of empty room with wooden floor and fan
a kitchen with a refrigerator a stove and wooden floor
an empty room with windows
an empty room with closet
a bathroom with a toilet and a shower
a view of a big room with wooden floor
a view of a kitchen with wooden floor and a refrigerator
a kitchen with stainless steel appliances a refrigerator and a window
a view of an empty room
a bathroom with a toilet a sink and mirror
a backyard of a house with table and chairs plants
a view of an empty room and wooden floor
a bedroom with a bed and a large window
a view of bedroom
a view of a kitchen with furniture and a refrigerator
an empty room with windows
a bathroom with a double vanity sink and a mirror
Listing provided courtesy of Kidder Mathews

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...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.
  1. Listed by Dan Swanson • Kidder Mathews

Property Details for 401 Northeast 40th Street

Community Name
Wallingford
School District
Seattle
View
Canal, City, Lake, Territorial
Number of Assigned Spaces
20
Total Covered Parking
0
Entry Date
09-12-2025
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 12/01/2025 04:32 PM

Property Details for 401 Northeast 40th Street

StatusActive
MLS #2433143
Days on Market130
Cumulative Days on Market130
Taxes$44,158 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.24 AC / 10,664 SF
CountyKing County

Location

Listing Courtesy of Kidder Mathews
Add your commute

Building Information for 401 Northeast 40th Street

Stories3Residences15Year Built1964Building Size-Lot Size0.24 AC / 10,664 SF

Payment Calculator

$26,099 per month

30 year fixed, 6.15% Interest

Principal and Interest

$22,420

Property Taxes

$3,680

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 401 Northeast 40th Street

Summary
Location and General Information
  • Style: 56 - 10+ Units
  • Area: 705 - Ballard/Greenlake
  • Elementary School: Green Lake
  • Middle Or Junior School: Hamilton Mid
  • High School: Lincoln High
  • Directions: Property is located on the triangular shaped land between NE Pacific St, NE 40th St and 4th Ave NE.
  • Leased Items: Washer/Dryer
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2025
Parking
  • Number of Carport Spaces: 6.0
  • Carport: No
  • Open Parking Spaces: 14.0
  • Open Parking: Yes
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
Interior Features
  • Fireplaces Total: 0
  • Amenities: Coin Op Laundry,Storage,Thermal Windows
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard
Exterior Features
  • Exterior: Brick, Stucco, Wood
  • Roof: Flat
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 21334
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Zoning Remarks: Multi-Family
  • Possible Use: Multi-Family
  • MLS Square Footage Source: King County
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 24
Lot Information
  • Lot Details: Corner Lot, Curbs, Paved, Sidewalk
  • Lot Size Source: King County
  • Parcel Number Free Text: 4206900915
  • Calculated Square Footage: 15433
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 15433.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
  • Green Energy Efficient: Thermal Windows
Multi Family
Building Details
  • Number of Uncovered Spaces: 14
  • Number of Stories in Building: 3
  • Vacancy Rate: 5
  • Number Of Units Total: 15
  • Units Below Grade: false
  • Units In Building Total: 15
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 115689
  • Gross Adjusted Income: 362133
  • Gross Rent Multiplier: 12.1
  • Gross Scheduled Income: $381,192
  • Insurance Expense: $3,278
  • Net Operating Income: $243,444
  • Other Expenses: $46,919
  • Total Monthly Income: 31766
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 101
  • Washer/Dryer Unit 1: false
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: true
  • Square Feet Unit 1: 900
  • Rent Unit 1: $2,332.00
  • Bedrooms Unit 1: 2
  • Bathrooms Unit 1: 2
Unit 2
  • Name Unit 2: 102
  • Washer/Dryer Unit 2: false
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: true
  • Square Feet Unit 2: 780
  • Rent Unit 2: $1,672.00
  • Bedrooms Unit 2: 1
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 103
  • Washer/Dryer Unit 3: false
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: true
  • Square Feet Unit 3: 780
  • Rent Unit 3: $2,100.00
  • Bedrooms Unit 3: 1
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 104
  • Washer/Dryer Unit 4: false
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Dishwasher Unit 4: true
  • Square Feet Unit 4: 780
  • Rent Unit 4: $1,554.00
  • Bedrooms Unit 4: 1
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: 105
  • Washer/Dryer Unit 5: false
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Dishwasher Unit 5: true
  • Square Feet Unit 5: 900
  • Rent Unit 5: $2,450.00
  • Bedrooms Unit 5: 2
  • Bathrooms Unit 5: 1
Unit 6
  • Name Unit 6: 201
  • Washer/Dryer Unit 6: false
  • Range/Oven Unit 6: true
  • Refrigerator Unit 6: true
  • Dishwasher Unit 6: true
  • Square Feet Unit 6: 900
  • Rent Unit 6: $2,279.00
  • Bedrooms Unit 6: 2
  • Bathrooms Unit 6: 2
Unit 7
  • Name Unit 7: 202
  • Washer/Dryer Unit 7: false
  • Range/Oven Unit 7: true
  • Refrigerator Unit 7: true
  • Dishwasher Unit 7: true
  • Square Feet Unit 7: 780
  • Rent Unit 7: $1,607.00
  • Bedrooms Unit 7: 1
  • Bathrooms Unit 7: 1
Unit 8
  • Name Unit 8: 203
  • Washer/Dryer Unit 8: false
  • Range/Oven Unit 8: true
  • Refrigerator Unit 8: true
  • Dishwasher Unit 8: true
  • Square Feet Unit 8: 780
  • Rent Unit 8: $1,890.00
  • Bedrooms Unit 8: 1
  • Bathrooms Unit 8: 1
Unit 9
  • Name Unit 9: 204
  • Washer/Dryer Unit 9: false
  • Range/Oven Unit 9: true
  • Refrigerator Unit 9: true
  • Dishwasher Unit 9: true
  • Square Feet Unit 9: 780
  • Rent Unit 9: $1,607.00
  • Bedrooms Unit 9: 1
  • Bathrooms Unit 9: 1
Unit 10
  • Name Unit 10: 205
  • Washer/Dryer Unit 10: false
  • Range/Oven Unit 10: true
  • Refrigerator Unit 10: true
  • Dishwasher Unit 10: true
  • Square Feet Unit 10: 900
  • Rent Unit 10: $2,145.00
  • Bedrooms Unit 10: 2
  • Bathrooms Unit 10: 1
Unit 11
  • Name Unit 11: 301
  • Washer/Dryer Unit 11: false
  • Range/Oven Unit 11: true
  • Refrigerator Unit 11: true
  • Dishwasher Unit 11: true
  • Square Feet Unit 11: 900
  • Rent Unit 11: $2,493.00
  • Bedrooms Unit 11: 2
  • Bathrooms Unit 11: 2
Unit 12
  • Name Unit 12: 302
  • Washer/Dryer Unit 12: false
  • Range/Oven Unit 12: true
  • Refrigerator Unit 12: true
  • Dishwasher Unit 12: true
  • Square Feet Unit 12: 780
  • Rent Unit 12: $1,634.00
  • Bedrooms Unit 12: 1
  • Bathrooms Unit 12: 1
Unit 13
  • Name Unit 13: 303
  • Washer/Dryer Unit 13: false
  • Range/Oven Unit 13: true
  • Refrigerator Unit 13: true
  • Dishwasher Unit 13: true
  • Square Feet Unit 13: 780
  • Rent Unit 13: $2,091.00
  • Bedrooms Unit 13: 1
  • Bathrooms Unit 13: 1
Unit 14
  • Name Unit 14: 304
  • Washer/Dryer Unit 14: false
  • Range/Oven Unit 14: true
  • Refrigerator Unit 14: true
  • Dishwasher Unit 14: true
  • Square Feet Unit 14: 780
  • Rent Unit 14: $1,618.00
  • Bedrooms Unit 14: 1
  • Bathrooms Unit 14: 1
Unit 15
  • Name Unit 15: 305
  • Washer/Dryer Unit 15: false
  • Range/Oven Unit 15: true
  • Refrigerator Unit 15: true
  • Dishwasher Unit 15: true
  • Square Feet Unit 15: 900
  • Rent Unit 15: $2,840.00
  • Bedrooms Unit 15: 2
  • Bathrooms Unit 15: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 14238.0

Property History for 401 Northeast 40th Street

DateEvent & SourcePriceAppreciation
Sep 12, 2025

Listed (Active)

NWMLS #2433143

$4,600,000—
DateEvent & SourcePrice
09/12/2025

Listed (Active)

NWMLS #2433143

$4,600,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 401 Northeast 40th Street

Taxable ValueLand$2,772,600Additions$2,032,400Total$4,805,000
Tax Record2024$52,886 ($4,407 / month)
Home Facts
Total Finished SqFt14,235 SqFtAbove Ground SqFt14,235 SqFtStories3Lot Size10,664 SqFtStyleMulti-Family Dwelling (2-4)Year Built1964Year Renovated1994ZoningLR3 (M)CountyKINGAPN420690-0915

Schools near 401 Northeast 40th Street

This home is within Seattle Public Schools.
Rating
School
Type
Grades
Distance
Green Lake Elementary School
Public - PK to 5
Hamilton International Middle School
Public - 6 to 8
Lincoln High School
Public - 9 to 12
John Stanford International Elementary School
Public - K to 5
Rating
School
Distance
Green Lake Elementary School
PublicPK to 5

Hamilton International Middle School
Public6 to 8

Lincoln High School
Public9 to 12

John Stanford International Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 401 Northeast 40th Street, Seattle, WA 98105

401 Northeast 40th Street is a multi-family home for sale in Seattle, WA 98105. This property was listed for sale on September 12, 2025 by Kidder Mathews, it's currently listed at $4,600,000. This listing's school district is Seattle Public Schools. Nearby schools include Green Lake Elementary School, Hamilton International Middle School and Lincoln High School. 401 Northeast 40th Street is a 21-bed, 18-bath, 15,433 sqft multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kidder Mathews

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 01/20/2026 10:20 AM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.