4750 University Way NE

Seattle, WA 98105

$3,500,000
Last Sold Price
Beds
Baths
12,182 Sq. Ft.
$287 / Sq. Ft.
12,182
Sq. Ft.
$287
per Sq. Ft.

Description

Unique investment/redevelopment opportunity in prime University District location revitalized by new light rail 2 blocks away. Striking 12000 SF mid-century mixed-use building on “the Ave” by architect Samuel Morrison comprises 18 vintage open 1BR apartments and 3500 SF boutique retail space, once home of Academy of Classical Ballet, run by Irene Larson of NY City Ballet, and of Jun Fan Gung Fu Institute, martial arts school of fighter, teacher and philosopher Bruce Lee. Recapitalize and renovate...Unique investment/redevelopment opportunity in prime University District location revitalized by new light rail 2 blocks away. Striking 12000 SF mid-century mixed-use building on “the Ave” by architect Samuel Morrison comprises 18 vintage open 1BR apartments and 3500 SF boutique retail space, once home of Academy of Classical Ballet, run by Irene Larson of NY City Ballet, and of Jun Fan Gung Fu Institute, martial arts school of fighter, teacher and philosopher Bruce Lee. Recapitalize and renovate the property for cash flow in thriving sub-market with focused, high demand renter base or develop in accordance with N3P-65 (M1) zoning. Steps from new mixed-use Safeway valued at $90M & adjacent 24-story M Tower, both by LA-based Fields Holdings.
  1. Listed by Edward Krigsman • Windermere Real Estate Co.

Property Details for 4750 University Way Northeast

Community Name
University District
School District
Seattle
View
Territorial
Number of Assigned Spaces
1
Total Covered Parking
0
Entry Date
12-15-2021
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 09/05/2024 05:44 AM

Property Details for 4750 University Way Northeast

StatusSold
MLS #1872358
Days on Market394
Cumulative Days on Market365
Taxes$42,301 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.09 AC / 4,120 SF
CountyKing County

Location

Listing Courtesy of Windermere Real Estate Co.

Sold By Best Choice Realty LLC

Add your commute

Building Information for 4750 University Way Northeast

Stories4Residences20Year Built1958Building Size-Lot Size0.09 AC / 4,120 SF

Payment Calculator

$21,863 per month

30 year fixed, 6.845% Interest

Principal and Interest

$18,338

Property Taxes

$3,525

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 4750 University Way Northeast

Summary
Location and General Information
  • Style: 56 - 10+ Units
  • Site Features: Cable TV, Fenced-Partially, Gas Available, Patio, Sprinkler System
  • Area: 710 - North Seattle
  • Elementary School: Green Lake
  • Middle Or Junior School: Hamilton Mid
  • High School: Lincoln High
  • Effective Year Built Source: Public Records
  • Directions: From NE 50th Street, turn left onto University Wy NE -if you reach NE 47th St you have gone too far.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2021
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 1.0
  • Open Parking: Yes
Interior and Exterior Features
Interior Features
  • Furnished: Unfurnished
  • Amenities: Coin Op Laundry,Fire Sprinklers,Thermal Windows
  • Cooling: Yes
  • Fireplace: No
  • Heating: Yes
  • FIRPTA: No
Exterior Features
  • Exterior: Brick, Cement/Concrete, Metal/Vinyl, Stone
  • Roof: Flat, Torch Down
  • Security Features: FullyFenced
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 10800
  • Power Company: Seattle City Light
  • Sewer Company: Seattle Combined Utilities
  • Water Company: Seattle Combined Utilities
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Zoning Class: Multi-Family,Retail,See Remarks
  • First Right Of Refusal: false
  • Possible Use: Multi-Family, Retail, See Remarks
  • Letter On File: Duplicate Prop Type
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1958
  • Photos Count: 1
Lot Information
  • Lot Details: Alley, Curbs, Paved, Sidewalk
  • Lot Size Dimensions: 40 x 103
  • Lot Size Source: King County Assessors Office
  • Parcel Number Free Text: 8816400350
  • Building Condition: Fair
  • Calculated Square Footage: 12182
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 12182.0
  • 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: 1
  • Number of Stories in Building: 4
  • Vacancy Rate: 5
  • Number Of Units Total: 20
  • Units Below Grade: true
  • Units In Building Total: 20
Financing / Income and Expenses
  • Electric Expense: $3,000
  • Total Expenses: 130372
  • Gross Adjusted Income: 396360
  • Gross Rent Multiplier: 10.7
  • Gross Scheduled Income: $421,241
  • Insurance Expense: $10,000
  • Net Operating Income: $265,988
  • Other Expenses: $64,271
  • Total Monthly Income: 34284
  • Fuel Expense: $0
Rental
Rent Information
  • Occupant Type: Vacant
  • Leasable Area: 10850.0
  • Leasable Area Units: Square Feet

Property History for 4750 University Way Northeast

DateEvent & SourcePriceAppreciation
Feb 14, 2023

Sold

NWMLS #1872358

$3,500,000
Feb 12, 2023

Sold (Public Record)

Public Record #1505877833

$3,500,000
Jan 13, 2023

Price Change

NWMLS #1872358

$3,988,000
Jan 13, 2023

Pending

NWMLS #1872358

Jun 29, 2022

Price Change

NWMLS #1872358

$4,500,000
Apr 14, 2022

Price Change

NWMLS #1872358

$4,980,000
Mar 10, 2022

Price Change

NWMLS #1872358

$5,580,000
Dec 23, 2021

Price Change

NWMLS #1872358

$6,280,000
Dec 15, 2021

Listed (Active)

NWMLS #1872358

$6,250,000
DateEvent & SourcePrice
02/14/2023

Sold

NWMLS #1872358

$3,500,000
02/12/2023

Sold (Public Record)

Public Record #1505877833

$3,500,000
01/13/2023

Price Change

NWMLS #1872358

$3,988,000
01/13/2023

Pending

NWMLS #1872358

06/29/2022

Price Change

NWMLS #1872358

$4,500,000
04/14/2022

Price Change

NWMLS #1872358

$4,980,000
03/10/2022

Price Change

NWMLS #1872358

$5,580,000
12/23/2021

Price Change

NWMLS #1872358

$6,280,000
12/15/2021

Listed (Active)

NWMLS #1872358

$6,250,000

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

Public Records for 4750 University Way Northeast

Taxable ValueLand$1,648,000Additions$2,018,000Total$3,666,000
Tax Record2024$33,352 ($2,779 / month)
Home Facts
Total Finished SqFt7,650 SqFtAbove Ground SqFt7,650 SqFtStories3Lot Size4,120 SqFtStyleMulti-Family Dwelling (2-4)Year Built1958Year Renovated1983ZoningNC3P-65CountyKINGAPN881640-0350

Schools near 4750 University Way Northeast

This home is within Seattle Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
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

McDonald International 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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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 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 Windermere Real Estate Co.

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 06/14/2025 12:21 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.