1 Dravus Street, Seattle, WA 98109
- $995,000
- 2,184
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $995,000
- Status
- ACTIVE
- MLS#
- 2582564
- Days on Market
- 0
- Style
- 54 - 4-Plex
- Finished SqFt
- 2,184
- Area Total SqFt
- 2184
- Annual Tax Ammount
- 9494
- Lot Size (sq ft)
- 1,110
- Sewer
- Sewer Connected
Property Description
The Dravus Fourplex consists of four thoughtfully configured units, including two studios, a 2BD/1BTH unit, and a 1BD/1BTH unit with a den. Each unit features in-unit W/D, vinyl plank flooring, and updated appliances. Select units have received more extensive renovations, including gray shaker cabinetry, quartz-style countertops, modern fixtures, and other contemporary finishes, while the remaining units have been updated over time as needed and maintained in good condition. The property is exceptionally well located, with Fremont just a five-minute walk across the Fremont Bridge, providing immediate access to the neighborhood’s restaurants, bars, retail, and entertainment. Opportunities to acquire a renovated and well-positioned fourplex in Queen Anne are increasingly rare. With the building’s major systems addressed, a new roof, renovated interiors, and strong proximity to Fremont and Queen Anne, the Dravus Fourplex offers an attractive combination of current income and future upside. Unit 3 has recently become vacant, creating an excellent owner-user opportunity for a buyer looking to occupy one unit while benefiting from rental income from the remaining three. The property is already operating well, while additional upside exists through the potential to implement utility bill-backs, providing a clear path to further increase income and improve overall operating performance.
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Additional Information
- List Date
- 2026-09-15 17:33:16
- Community
- Queen Anne
- Net Operating Income
- $54,254
- Gross Adjusted Income
- $75,240
- Gross Scheduled Income
- $79,200
- Total Monthly Income
- $6,600
- Insurance Expenses
- $2,333
- Water/Sewer/Garbage Expenses
- $5,159
- Gross Rent Multiplier
- 12.6
- Total Expenses
- $20,986
- Cap Rate
- 5.5
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 1
- Potential Terms
- Cash, Conventional
- Year Built
- 1953
- Roof
- Flat
- Other Expenses
- 4000
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $6,600
- Gross Scheduled Income
- $79,200
- Vacancy Rate
- 5
- Gross Adjusted Income
- $75,240
- Tax Year
- 2026
- Insurance Expense
- $2,333
- W/S/G Expenses
- $5,159
- Total Expenses
- $20,986
- Net Operating Income
- $54,254
- Gross Rent Multiplier
- 12.6
- Cap Rate
- 5.5
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.