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(253) 256-5270
My Q Homes with Wilcox Real Estate
505 3rd Street, Kirkland, WA 98033
- $2,495,000
- 1,920
- SqFt
Listing Broker: Venture Real Estate Group LLC; Jamie Langsford; 206-934-0237; jlangsford@vreg.co
- List Price
- $2,495,000
- Status
- ACTIVE
- MLS#
- 2594736
- Days on Market
- 0
- Style
- 52 - Duplex
- Building Condition
- Good
- Finished SqFt
- 1,920
- Area Total SqFt
- 1920
- Annual Tax Ammount
- 11988.22
- Internet Provider
- XFINITY
- Lot Size (sq ft)
- 5,100
- Sewer
- Available, Sewer Connected
Property Description
Rare land development opportunity in Kirkland’s East of Market neighborhood or owner-occupy, just a two-minute walk from vibrant downtown Kirkland. Plans are available for both a 4 and 6 unit. Both existing units have been fully renovated with new kitchen cabinets, quartz countertops, stainless steel appliances, and in-unit washers and dryers. Priced for land and redevelopment value, with both units currently operating as furnished short-term rentals to help offset holding costs while you plan your project. A driveway variance is in process with the City of Kirkland. Buyer to verify all information, plans, development potential, and approval requirements to their satisfaction.
Additional Information
- List Date
- 2026-10-15 18:14:16
- Community
- Downtown
- Net Operating Income
- $56,532
- Gross Adjusted Income
- $98,258
- Gross Scheduled Income
- $166,539
- Total Monthly Income
- $7,600
- Insurance Expenses
- $1,922
- Water/Sewer/Garbage Expenses
- $2,712
- Gross Rent Multiplier
- 14.98
- Total Expenses
- $41,725
- Cap Rate
- 2.27
- Vacancy Rate
- 41
- Total Number of Units
- 2
- Unit Name
- 505
- Potential Terms
- Cash, Conventional
- Year Built
- 1963
- View
- Territorial
- Roof
- Composition, See Remarks
- Site Features
- Patio
- Electric Expenses
- 1692
- Other Expenses
- 23409
- Energy Source
- Electric
- School District
- Lake Washington
- Elementary School
- Peter Kirk Elementary
- Middle School
- Kirkland Middle
- High School
- Lake Wash High
- Total Monthly Income
- $7,600
- Gross Scheduled Income
- $166,539
- Vacancy Rate
- 41
- Gross Adjusted Income
- $98,258
- Tax Year
- 2025
- Insurance Expense
- $1,922
- W/S/G Expenses
- $2,712
- Total Expenses
- $41,725
- Net Operating Income
- $56,532
- Gross Rent Multiplier
- 14.98
- Cap Rate
- 2.27
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.