12040 28th Ave NE, Seattle, WA 98125

Multifamily · Seattle · Seattle-Bellevue metro, WA

Imagery suggests: garden apartments, appears multi-tenant. AI estimate from public imagery. In recent public imagery (2026-06), the building appears well maintained. AI estimate from public imagery; may be outdated.

One of 5,391 reachable multifamily buildings in Seattle. Larger than 83% of multifamily buildings in Seattle (median 9,444 SF), derived from assessor records.

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Building size: 36,172 SF, King County Assessor
Lot size: 10,610 SF, King County Assessor
Year built: 1976, King County Assessor
Stories: 3, King County Assessor
Predominant use: Apartment Bldg 28 Units, King County Assessor
Units: 28, King County Assessor
Assessed value: $5,227,500, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $144.52/SF, derived from assessor records
Lot coverage: 341%, derived from assessor records
Vintage: 1970s vintage
Zoning: LR3 (M), King County
County use code: Apartment
Construction (observed): wood frame, AI estimate from public imagery
Parking (observed): surface lot, AI estimate from public imagery
Frontage (observed): mid block, AI estimate from public imagery

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

12051 28th Ave NE, Seattle · 0 mi · 24,722 SF · built 1984 · assessed $204.80/SF
2821 NE 123rd St, Seattle · 0 mi · 65,978 SF · built 2025 · assessed $99.25/SF
12036 28th Ave NE, Seattle · 0 mi · 4,680 SF · built 1986 · assessed $230.77/SF
2711 NE 123rd St, Seattle · 0 mi · 7,294 SF · built 1989 · assessed $233.48/SF
12315 28th Ave NE, Seattle · 0 mi · 17,024 SF · built 1958 · assessed $301.16/SF
12023 28th Ave NE, Seattle · 0.1 mi · 13,441 SF · built 1993 · assessed $248.27/SF

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Sale history and market context

MakeMe Estimate: $5,287,253 (estimated market value), with a likely range of $4,693,428 to $6,031,286 (half of recent verified sales in this segment landed inside that range). Based on 667 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works. About $189K per unit at the midpoint (28 units).

Current ownership dates to 2015 (about 11 years) per recorded transfers.

2015-06-23: $4,395,000 from Falcon Properties LLC to 12040 28th Avenue LLC (part of a 2-parcel sale; price is the whole deal), rec. 20150629001347

2014-06-19: $4,095,800 from Baldwin TP LLC to Falcon Properties LLC (part of a 2-parcel sale; price is the whole deal), rec. 20140620000912

2013-03-29: $3,013,000 from SP Jump LLC to Baldwin TP LLC (part of a 2-parcel sale; price is the whole deal), rec. 20130415001399

2011-02-24: transfer from S P Jump & CO to SP Jump LLC (part of a 2-parcel sale; price is the whole deal), rec. 20110427001240

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

Solid line: county appraised value per King County tax rolls. Shaded range: our modeled estimate for each year, built from recorded arm's-length sales in the building's segment; years without enough sales stay unmodeled. Dots: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $1,986,000 (2011) to $5,227,500 (2026), up 163% over 15 years, per county tax rolls. The 2026 roll splits $5,227,500 into $1,007,900 land and $4,219,600 improvements.

Zoning: LR3 (M) (per King County)

Lot: 10,610 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Multiple Residence (Low Rise) 36,172 SF (county building sections)

County districts report (schools, fire, sewer, council; on kingcounty.gov)