4738 17th Avenue NE, Seattle, WA 98105 (MLS # 2425609)
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Listing provided courtesy of Northwest MLS; Windermere Real Estate Co.
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Clear & Present 8.0 Cap Rate ~ Welcome to Madison Manor. Quintessential high occupancy/ high cap/ low cost UW Greek Row 18-Unit. Leased to same group w/ zero vacancy 5+ years & pre-leased till August 2027 w/ All Deposits & Cosigners. Numbers shown in Listing are 2025 actual. Exemplary condition: four levels sprinkler system serviced yearly, all newer double windows, commercial furnace 2022, all copper inside, good electrical panel/ wiring/ roof/ commercial water tank, RRIO certified by city Dec 2023, pro exterior paint 2019, new kitchens & baths & flooring 2020, full Inspection Reports available. Madison Manor retains 80+% of GSI year after year, by UW Main Entrance w/ prestige of high demand for 17th Boulevard Greek Row. Smart groups seek the giant front porch & formal entry hall, high ceilings & heavy wood trim, grand box beam living room adjacent to main kitchen, wide staircases & open landings, 2nd Kitchen/ 2nd Entry for Duplex Use, paved alley w/ 4 parking stalls, etc. Key Factor is Room Size: 3 medium + 15 giant Bedroom's, some 200+ sqft, some w/ dual sleeping alcoves, all to attract & retain this proven 2025-2026-2027 $1192/m per unit. Prior 2025 Buyer applied for 25% Down; was approved @ 40% Down/ 7.0% IR fixed for 30 yrs. This DSCR Loan is appraised & avail to you = turn key 8-10% cash flow & ROI. Other comm loans avail too. It's unusual to see zero vacancy & NOI at 80% over five years, for Madison Manor it's business as usual by the University.
| LAST UPDATED | 4/1/2026 | TRACT | University District |
|---|---|---|---|
| YEAR BUILT | 1909 | COMMUNITY | University District |
| COUNTY | King | STATUS | Pending |
| PROPERTY TYPE(S) | Single Family |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| APPLIANCES | Dishwasher, Dryer, Gas Water Heater, Refrigerator, Washer, Water Heater |
| AREA | 710 - North Seattle |
| BASEMENT | Finished, Yes |
| CONSTRUCTION | Wood Siding |
| EXTERIOR | Garden |
| HEAT | Forced Air, Natural Gas |
| INTERIOR | Dbl Pane/Storm Window, High Tech Cabling, Second Kitchen, Walk-In Closet(s), Water Heater |
| LOT | 4321 sq ft |
| LOT DESCRIPTION | Alley, Curbs, Paved, Sidewalk |
| LOT DIMENSIONS | 40 x 108 |
| MLS STATUS | Pending |
| PARKING | Off Street |
| STORIES | Split/Multi Level |
| STYLE | 15 - Multi Level |
| SUBDIVISION | University District |
| TAXES | 16063 |
| UTILITIES | Sewer Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Mountain(s), Territorial |
| WATER | Public |
TOTAL MONTHLY PAYMENT
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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 4/1/26 3:22 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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