Listing provided courtesy of Windermere Real Estate JSNWMLSas Distributed by MLSGrid- MLS# NWM2428924MLS Provider

2224 NE 197th PlaceShoreline, WA 98155

Multi-Family · 6 Beds · 3,382 Sq. ft. | 0.19 Acres
$1,299,950 Active

2224 NE 197th Place Overview

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Exceptional Investment Opportunity in Shoreline! TURN KEY Discover this beautifully updated 4-plex located just minutes from the new Shoreline light rail station, offering unmatched convenience and long-term growth potential. Each of the four units has been thoughtfully renovated with modern finishes, creating stylish, low-maintenance living spaces that attract and retain quality tenants. All units feature updated kitchens, bathrooms, flooring, and fixtures, ensuring minimal future capital expenses. This property boasts a strong consistent rental history, with all four units currently leased. Residents enjoy easy access to I-5, shopping, parks, Lake Forest Park, and Edmonds, making this an ideal location for commuters and lifestyle-focused tenants alike. Each unit equipped with in-unit washers and dryers, complemented by a common area coin-operated machine for larger loads and comforters. The upper units offer private decks, while the lower units feature fenced yards, providing desirable outdoor living spaces. Pride of ownership is evident throughout, with zero deferred maintenance and a well-cared-for structure that reflects long-term stewardship. Zoned R24, this property offers excellent future development potential in an ever-growing area. Originally designed for owner-occupancy in Unit B with three income-producing units, this versatile investment presents a rare opportunity for both investors and owner-users seeking stable returns in a prime Shoreline location.

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2224 NE 197th Place Facts & Features

  • Type Multi-Family
  • Sq. ft. 3,382
  • Price/Sq.ft. $384
  • Lot 0.19 Acres

Details

General

Association/HOA

  • Association Fee: $0.00

School Information

  • School District: Shoreline
  • Elementary School: Lake Forest Park Ele
  • Middle Or Junior School: Kellogg Mid
  • High School: Shorecrest High

Green Features

  • Green Energy Efficient: Thermal Windows

Income/Expenses

  • Other Expense: 2100
  • Electric Expense: 840
  • Fuel Expense: 0
  • Gross Scheduled Income: 84300
  • Insurance Expense: 2544
  • Net Operating Income: 62682
  • Total Expenses: 21618
  • Total Monthly Income: 7025
  • Water/Sewer/Garbage: 5907

Building Information

  • Building Name: Ballinger Woodlands
  • New Construction: No
  • Year Built: 1978

Location/Region

  • Country: US
  • County Or Parish: King
  • MLS Area Major: 720 - Lake Forest Park
  • Subdivision Name: Ballinger

Community/Development

  • Amenities: Coin Op Laundry,Thermal Windows

Tax Information

  • Tax Annual Amount: $10,227.00
  • Tax Year: 2025

General Information

  • Listing Terms: Cash, Conventional
  • Parcel Number: 0508000040
  • Possible Use: Multi-Family,See Remarks
  • Property Condition: Very Good
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None

Interior

Beds/Baths

  • Bedrooms Upper: 0

Building Interior

  • Building Area Total: 3382
  • Building Area Units: Square Feet
  • Calculated Square Footage: 3382
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0

General Information

  • Cooling: No
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Vinyl Plank
  • Foundation Details: Poured Concrete
  • Heating: Yes
  • Leasable Area: 3382
  • Living Area: 0
  • Main Level Bathrooms: 0
  • Power Production Type: Electric
  • Security Features: Fully Fenced
  • Stories Total: 2

Exterior

Parking Information

  • Open Parking Spaces: 4
  • Open Parking: Yes
  • Parking Total: 8
  • Parking Uncovered Spaces: 4
  • Parking Uncovered Total: 4

Lot Information

  • Irrigation Water Rights: No
  • Lot Features: Cul-De-Sac, Curbs, Dead End Street, Paved, Sidewalk
  • Lot Size Acres: 0.1905
  • Lot Size Square Feet: 8297
  • Lot Size Units: Square Feet
  • Site Features: Cable TV, Deck, Fenced-Fully, High Speed Internet
  • Elevation Units: Feet
  • Water Source: Public

Waterfront/View

  • View: No
  • Waterfront: No

Building Exterior/Construction

  • Construction Methods: Standard Frame
  • Roof: Composition, See Remarks
  • Structure Type: Quadruplex

General Information

  • Carport Spaces: 4
  • Carport: No
  • Covered Spaces: 4
  • Exterior Features: Wood
  • Number Of Units Total: 4
  • Sewer: Sewer Connected

Unit Information

Unit 1 Details

  • Actual Rent: 1500
  • Beds Total: 1
  • Baths Total: 1

Unit 4 Details

  • Actual Rent: 1675
  • Beds Total: 1
  • Baths Total: 1

Unit 2 Details

  • Actual Rent: 1875
  • Beds Total: 2
  • Baths Total: 2

Unit 3 Details

  • Actual Rent: 1975
  • Beds Total: 2
  • Baths Total: 2

2224 NE 197th Place Neighborhood

Community

98155 (Shoreline) Demographics

40
Median Age
4,300
Population Density (per sq. mile)
64%
College Educated
$107,109
Estimated Median Income
9,693
Estimated Total Home Owners
3,729
Estimated Total Renters
72% / 28%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

2224 NE 197th Place Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

2224 NE 197th Place Market Data

Based on the last 30 days in this zip code

$1,072,365
Average List Price
$578
Average Price per Square Foot
27
Properties Sold
77
Average Days on Market
117
Properties for Sale
Calculations provided by Reliance Network

2224 NE 197th Place History

Date Event Value Agent
4/23/2026Source: NWMLS Status Change
Active
4/6/2026Source: NWMLS Status Change
Pending Inspection
2/12/2026Source: NWMLS Price Reduction
$1,299,950 -1.9%
11/11/2025Source: NWMLS Price Reduction
$1,325,000 -1.9%
9/5/2025Source: NWMLS Added to Database
September 05, 2025
6/20/2022Source: NWMLS Added to Database
June 01, 2021