1612 N 38th Street, Seattle, WA 98103 (MLS # 2593173)
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Listing provided courtesy of Northwest MLS; Skyline Properties, Inc.
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Exceptional Investment Opportunity in Desirable Wallingford! This conveniently located legal duplex offers outstanding flexibility, strong rental income, and long-term investment potential"”ideal for investors, owner-occupants, or multi-generational living. Generating $79,200 in actual annual rental income, with a projected NOI of $64,220 and a 5.36% cap rate, the property benefits from low operating expenses, with tenants paying all utilities and the owner responsible only for property taxes and insurance. No HOA fees! Live in one unit and rent the other, or enjoy the established rental income. Previously operated as an Airbnb, offering additional potential (buyer to verify eligibility). Each unit is separately metered with its own tankless water heater. Recent improvements and desirable features include a new roof, off-street parking, basement storage, a stone patio, and a private fenced backyard. Enjoy impressive Seattle skyline views from both units! The upper unit features double French doors opening to a balcony, while the lower unit offers a charming wrap-around porch. Ideally situated minutes from I-5, the University of Washington, Gas Works Park, John Stanford International School, and other highly regarded schools. A rare opportunity to own an income-producing duplex in one of Seattle's most sought-after neighborhoods! Offered at $1,199,000 | 5.36% Cap Rate | $79,200 Annual Rental Income.
| LAST UPDATED | 10/9/2026 | TRACT | Wallingford |
|---|---|---|---|
| YEAR BUILT | 1902 | COMMUNITY | Wallingford |
| COUNTY | King | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| Elementary School | John Stanford Intl |
|---|---|
| Jr. High School | Hamilton Mid |
| High School | Lincoln High |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| APPLIANCES | Tankless Water Heater |
| AREA | 705 - Ballard/Greenlake |
| CONSTRUCTION | Brick |
| HEAT | Electric, Forced Air, Natural Gas |
| LOT | 2400 sq ft |
| LOT DESCRIPTION | Paved, Sidewalk |
| LOT DIMENSIONS | 40 x 60 |
| MLS STATUS | Active |
| PARKING | Driveway, Off Street |
| STORIES | 2 |
| STYLE | 12 - 2 Story |
| SUBDIVISION | Wallingford |
| TAXES | 9063 |
| UTILITIES | Sewer Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | See Remarks, Territorial |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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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 10/20/26 6:46 PM 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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