Excellent investment opportunity to own a well-located 6-unit multifamily property on California Avenue, situated just minutes from the Junction. Known as The Lori Dee, this classic two-story building features highly desirable, spacious layouts where each unit boasts its own private deck or patio surrounded by beautifully maintained landscaping. The property has been extensively modernized with major capital expenditures already completed, including a new roof, updated electrical panels, comprehensive PEX plumbing, and a new sewer liner to the main line connection. With all kitchens and bathrooms updated over the last ten years and the entire property meticulously maintained, it offers an investor immediate turnaround value with minimal upcoming CapEx. Additionally, tenants benefit from the premium convenience of six off-street parking spaces accessible via a clean, paved alley and also storage units & in unit washer/dryers.
Junction, located between California Avenue SW and Fauntleroy Way SW, is a walkable and transit-connected Seattle neighborhood with a compact town center and a classic main-street feel. The neighborhood’s character concentrates around the California Ave SW & SW Alaska St crossroads, where sidewalk patios, indie boutiques, and late-night bites cluster under marquee lights. Pillars include the historic Admiral Theater, Easy Street Records & Cafe, and the West Seattle Farmers Market. Low-rise brick storefronts and mid-century apartments mix with Craftsman homes on the surrounding hills. A short climb leads to viewpoints and green space at nearby parks, while RapidRide lines and the Alaska Junction streetscape keep daily errands close at hand.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Fireplace in two units
Bedrooms
Six units: four 2-bedroom units and two 1-bedroom units
Bathrooms
One bathroom in each unit
Kitchen
Range/oven, refrigerator, and dishwasher in each unit
Laundry & utility
Washer and dryer in each unit
Flooring
Vinyl and carpet
Heating & cooling
Baseboard and wall furnace heating
Exterior features
Deck
Patio
Alley access
Curbs
Paved
Home design
Two stories
Multifamily property
Parking
Six uncovered parking spaces
Construction
Built in 1996
Brick and wood construction
Torch-down roof
Poured concrete foundation
Utilities
Electric power
Connected to sewer
HOA & community
Storage
Financial info
Six units
Gross scheduled income: $135,600
Gross adjusted income: $104,011
Total monthly income: $11,300
Net operating income: $104,011
Total expenses: $31,589
Electric expense: $507
Insurance expense: $5,083
Gross rent multiplier: 12.16
Unit rents: $2,000, $1,550, $1,550, $2,100, $1,950, and $2,100
Electricity and solar
View estimated energy costs and solar savings for this home
Replace electrical panels in an apartment building.
Electrical
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Local insights from Redfin agents
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...
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 86° expected this year, 15 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
7/10 Air Factor
11 unhealthy days expected this year, 12 days in 30 years
Provided by First Street
Historical weather
Seattle, WA • 98116
Average low and high temperatures (°F)
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Sun exposure
77/ 100
Good sunlight
Sunscore
This home ranks in the top 29% for direct sun exposure in Seattle. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.3 hrs
3.4 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 4017 California Ave SW
There isn’t enough information to generate an accurate estimate at this time. Learn More