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200 Rainier Blvd N - Issaquah Duplex 2 Unit Apartment Building Offered at $1,214,334 CAD at a 4.25% Cap Rate Issaquah, WA 98027
Investment Highlights
- Opportunity to raise rent $850/month on unit 210 by renovating as proven on unit 200
- Double pane vinyl windows
- New roof in 2018 – Full tear off with new plywood underlay and composition roof
- Property has ample off-street parking and each unit has a private patio
- Single story, low maintenance property
- Just steps away from the historic downtown area, residents can explore the charming streets lined with unique shops, restaurants, and cultural attract
Executive Summary
Available for the first time in over three decades, this charming duplex features two spacious 2-bedroom,1-bathroom units, making it the perfect start or addition to your real estate portfolio. Nestled in the highly sought-after Old Town Issaquah, this duplex is situated in a vibrant community known for its historic charm, excellent schools, and convenient amenities. One of the units has been fully remodeled including new cabinets, quartz countertops, LVP flooring, stainless steel appliances, new lights and interior paint. The remodeled unit is rented for $2,550 while the other unit is only rented for $1,700 presenting a buyer with a great opportunity to renovate the unit and capture a market rent. Whether you're an experienced investor or a first-time landlord, this property offers an excellent opportunity to maximize your returns. Both units boast well-appointed 2 bedrooms and 1-bathroom layouts with a private patio providing comfortable living spaces for tenants while offering the potential for future improvements or customization. The owner put on a new roof with new plywood underlay in 2018 and has overall meticulously cared for the property throughout the seller's 36-year ownership period.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$70,778
|
$47.19
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$1,416
|
$0.94
|
| Effective Gross Income |
$69,363
|
$46.24
|
| Taxes |
$9,566
|
$6.38
|
| Operating Expenses |
$8,137
|
$5.42
|
| Total Expenses |
$17,703
|
$11.80
|
| Net Operating Income |
$51,660
|
$34.44
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $70,778 |
| Annual Per SF | $47.19 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $1,416 |
| Annual Per SF | $0.94 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $69,363 |
| Annual Per SF | $46.24 |
| Taxes (CAD) | |
|---|---|
| Annual | $9,566 |
| Annual Per SF | $6.38 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $8,137 |
| Annual Per SF | $5.42 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $17,703 |
| Annual Per SF | $11.80 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $51,660 |
| Annual Per SF | $34.44 |
Property Facts
| Price | $1,214,334 CAD | Property Type | Multifamily |
| Price Per Unit | $607,167 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 1,500 SF |
| Cap Rate | 4.25% | No. Stories | 1 |
| Gross Rent Multiplier | 17.16 | Year Built | 1967 |
| No. Units | 2 | ||
| Zoning | CBD | ||
| Price | $1,214,334 CAD |
| Price Per Unit | $607,167 CAD |
| Sale Type | Investment |
| Cap Rate | 4.25% |
| Gross Rent Multiplier | 17.16 |
| No. Units | 2 |
| Property Type | Multifamily |
| Lot Size | 0.15 AC |
| Building Size | 1,500 SF |
| No. Stories | 1 |
| Year Built | 1967 |
| Zoning | CBD |
Amenities
Unit Amenities
- Double Pane Windows
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $3,539 CAD | 750 |
| 2+1 | 1 | $2,359 CAD | 750 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 272406-9165 | Total Assessment | $1,101,921 CAD (2024) |
| Land Assessment | $681,415 CAD (2024) | Annual Taxes | $9,566 CAD ($6.38 CAD/SF) |
| Improvements Assessment | $420,506 CAD (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
272406-9165
Land Assessment
$681,415 CAD (2024)
Improvements Assessment
$420,506 CAD (2024)
Total Assessment
$1,101,921 CAD (2024)
Annual Taxes
$9,566 CAD ($6.38 CAD/SF)
Tax Year
2025
Contacts
-
Michael Urquhart -
Brian Platt -
Ben Douglas -
Rowan Davis -
Paragon Real Estate Advisors
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200 Rainier Blvd N - Issaquah Duplex
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