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About this home
This conveniently located legal duplex offers exceptional flexibility and income potential—ideal for investors, owner-occupants, or multi-generational living. Live in one unit and rent the other to help offset expenses, or take advantage of the property’s established rental potential, having previously operated as an Airbnb.Each unit is separately metered and equipped with its own tankless water heater. Additional features include a new roof, off-street parking, basement storage, a stone patio for entertaining, and a private fenced backyard.Enjoy impressive Seattle skyline views from both units. The upper unit features double French doors opening to a balcony, while the lower level offers the charm of a welcoming wrap-around porch.Conveniently located just minutes from I-5, the University of Washington, Gas Works Park, John Stanford International School, and other highly regarded schools, this property combines location, versatility, and investment potential in one compelling opportunity.
Northlake, located between Lake Union and Wallingford, is a waterfront and industrial Seattle neighborhood with a working marina edge and a canal-side trail. The neighborhood’s character concentrates along N Northlake Way by the University Bridge, where boatyards, houseboats, and low-slung warehouses line the water. Gas Works Park frames the western skyline with kite-dotted lawns and big views across Lake Union. The Burke-Gilman Trail threads past docks and under bridges, setting a steady rhythm for bikes and foot traffic. Ivar’s Salmon House anchors the shoreline with cedar-and-glass Northwest style. The Center for Wooden Boats keeps the lake’s craft tradition in motion.
Provided by Walk Score and Local Logic
Offer insights
1612 N 38th St · $1,199,000
$1.2M and above
75% chance or better to win
Why $1.2M+ is a strong offer
SALE-TO-LIST
94.9%
Most homes are selling 5% below list price.
LIST PRICE
$1,199,000
Median list price in this area is $1,000,000. (17% lower than this home)
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Dining
Interior features
Tankless water heater
Basement
Storage
Bedrooms
Unit 1: 3 bedrooms
Unit 2: 1 bedroom
Bathrooms
Unit 1: 2 bathrooms
Unit 2: 1 bathroom
Kitchen
Both units include a range/oven, refrigerator, and dishwasher
Flooring
Ceramic tile, engineered hardwood, and carpet
Heating & cooling
Forced-air heating
No cooling
Exterior features
Deck
Patio
Fully fenced
Paved
Sidewalk
View
Home design
Duplex
Two stories
Parking
One-car garage
One uncovered parking space
Security
Fully fenced
Construction
Brick and wood construction
Composition roof
Pillar/post/pier and poured concrete foundation
Utilities
Public water
Connected to sewer
Electricity and natural gas
Financial info
Gross scheduled income: $79,800
Gross adjusted income: $63,212
Net operating income: $63,212
Total monthly income: $6,600
Total expenses: $17,788
Fuel expense: $1,200
Insurance expense: $5,125
Gross rent multiplier: 15.03
Unit 1 actual rent: $3,800
Unit 2 actual rent: $2,800
Electricity and solar
View estimated energy costs and solar savings for this home
Seattle is known for its iconic waterfront, vibrant neighborhoods, and amazing dining! I love Pike Place Market, Discovery Park, and Ballard's shops and restaurants. From Queen Anne's historic homes to Capitol Hill's modern condos, each neighborhood...