ON THE MARKET // 4556 Delridge Way SW, Seattle, WA
Delridge Triplex
On the Market
Price:
$895,000
Marcus & Millichap, Inc., as the exclusive listing broker, is pleased to present the opportunity to acquire a well-maintained tri-plex in the North Delridge neighborhood of West Seattle. Ideally situated near the West Seattle Bridge, this property pairs a convenient commute to Seattle & Bellevue with all that West Seattle has to offer.
Located near the West Seattle golf course in North Delridge, 4556 Delridge enjoys a strategic position within West Seattle with Downtown Seattle just 10 minutes away. This central location ensures residents have quick access to shopping, dining, major highways, public transportation, and numerous amenities. West Seattle also features a variety of local beaches and parks, including Alki Beach, Puget Park, Schmitz Preserve Park, and Lincoln Park, offering ample opportunities for outdoor recreation and leisure activities.
Built in 1966, this well-maintained tri-plex has undergone several upgrades in recent years, including renovations to the top floor unit. 4556 Delridge is currently fully occupied, but an incoming buyer would also have the option to owner-occupy the property through removal of a tenant. Leased units are at an average rent of $1,473 per unit. There is an opportunity to significantly increase rental returns through renovating the remaining two units. Comparable rentals in the area suggest that such renovations could yield an additional $800 per month per unit on average.
Property Overview
ADDRESS
4556 Delridge Way SW,
Seattle, WA
RESIDENTIAL NRSF
± 2,940
NEIGHBORHOOD
Delridge
PARKING
Off-street Parking Available
YEAR BUILT
1966
ZONING
LR2 (M)
UNITS
3 Units
SITE AREA
4,840 SF (0.11 ACRES)
Executive Highlights
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Well-maintained building located in West Seattle’s North Delridge neighborhood with proximity to amenities, multiple parks & beaches, and easy access to downtown.
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Large two-bedroom floor plans averaging +-980 square feet with decks and in-unit washer / dryers.
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Partially Updated Property:
- Top-floor unit is fully renovated.
- Copper plumbing and electric.
- New roof two years ago.
- Washer/dryer in each unit.
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Off-street parking available for each unit, catering to tenants commuting to the city.
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Investment opportunity primed for value-add with current in-place rents below market. Surrounding comparable rentals achieving $800/month more per unit on average.