$2,495,000
Est. $13,820/mo1,920 sq ft
505 3rd Street, Kirkland, WA 98033
• Listed Oct 15, 2026•2 days active · 2 cumulative
Listing Broker: Venture Real Estate Group LLC; Jamie Langsford; 206-934-0237; jlangsford@vreg.co
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Listing Broker: Venture Real Estate Group LLC; Jamie Langsford; 206-934-0237; jlangsford@vreg.co
About this home
Rare land development opportunity in Kirkland’s East of Market neighborhood, or owner-occupy, just a two-minute walk from vibrant downtown Kirkland. Plans are available for both a 4 and 6 unit project, offering buyers multiple possibilities for the property. Both existing units have been fully renovated with new kitchen cabinets, quartz countertops, stainless steel appliances, and in-unit washers and dryers. Priced for land and redevelopment value, with both units currently operating as furnished short-term rentals to help offset holding costs while you plan your project. A driveway variance is in process with the City of Kirkland. Buyer to verify all information, plans, development potential, and approval requirements to their satisfaction.
Listed by Jamie Langsford • Venture Real Estate Group LLC
Listing updated: October 16, 2026 at 05:28pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2594736
Around this home
How much should you offer?
505 3rd Street, Kirkland, WA 98033
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Layout
- Duplex
Flooring
- Engineered Hardwood
Heating & cooling
- Forced Air heating
- Heat Pump heating
- Forced Air cooling
Schools
Ratings via SchoolDiggerLake Washington School District
- Peter Kirk ElementaryPublic · Grades K-5 · State rank 36 of 1,13810/10
- Kirkland Middle SchoolPublic · Grades 6-8 · State rank 17 of 51410/10
- Lake Washington High SchoolPublic · Grades 9-12 · State rank 15 of 39610/10
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 2
- Units in building
- 2
- Units below grade
- false
- Building square feet
- 1,920 sq ft
Income & expenses
- Gross scheduled income
- $166,539
- Total monthly income
- $7,600
- Gross adjusted income
- $98,258
- Net operating income
- $56,532
- Cap rate
- 2.27%
- Gross rent multiplier
- 14.98
- Vacancy rate
- 41%
- Total expenses
- $41,726
- Insurance
- $1,922
- Electric
- $1,693
- Other expenses
- $23,410
- Water / sewer / garbage paid by
- 2712.88
Parking & storage
- Parking spaces
- 2
- Covered spaces
- 2
Taxes & assessment
- Annual taxes
- $11,988
- Tax year
- 2025
- Financing
- Cash, Conventional
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
Opens with the report above.
Sales & Tax Records for 505 3rd Street
NWMLS via MLS Grid · King County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Oct 15, 2026ListedNWMLS via MLS Grid · #2594736$2,495,000$1,299/sq ft
- Oct 15, 2026ListedNWMLS via MLS Grid · #2595679$2,495,000$1,299/sq ft
- Sep 23, 2021Recorded saleKing County recorder · Quit claim deed$280,000$146/sq ft
- Jun 18, 2018SoldNWMLS via MLS Grid · #1318289$810,000$422/sq ft
- Jun 18, 2018ListedNWMLS via MLS Grid · #1318289$810,000$422/sq ft
Mortgage payment forecast
$15,443 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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Listing Broker: Venture Real Estate Group LLC; Jamie Langsford; 206-934-0237; jlangsford@vreg.co
Market pulse
Kirkland is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells for about 2% below list price.
Time on market: The average home goes pending in around 58 days.
Recent sales nearby
Within 1 mile · last 6 months$2,450,000 Sold
1 day ago
4 bd•2.5 ba•~3,130 sq ft•Single Family
1020 5th Street, Kirkland, WA 98033
0%
Over list
36
Days on market
0.4 mi
Distance
$1,180,000 Sold
1 day ago
4 bd•1.75 ba•~1,880 sq ft•Single Family
11218 NE 91st St, Kirkland, WA 98033
1%
Under list
37
Days on market
0.7 mi
Distance
$3,000,000 Sold
2 days ago
4 bd•2.75 ba•~2,820 sq ft•Single Family
424 10th Avenue, Kirkland, WA 98033
6%
Under list
36
Days on market
0.3 mi
Distance
$3,599,950 Sold
4 days ago
4 bd•3.25 ba•~3,955 sq ft•Single Family
436 7th Avenue, Kirkland, WA 98033
0%
Over list
40
Days on market
0.2 mi
Distance
$1,200,000 Sold
1 week ago
3 bd•2.5 ba•~1,510 sq ft•Single Family
1951 2nd Street, Kirkland, WA 98033
8%
Under list
133
Days on market
1.0 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 17, 2026 at 10:51 AM PT (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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© 2026 Northwest Multiple Listing Service. All rights reserved.
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