260 SE Andrews St
Issaquah, WA 98027
A Rare Income-Producing Duplex in the Heart of Downtown Issaquah — Two Spacious 3-Bedroom Units, Separate Entrances, Immediate Rental Income Potential
A Rare Find in
Old Town Issaquah
Opportunities like this do not surface often. At 260 SE Andrews Street, you will find a well-maintained, purpose-built duplex in the heart of one of the Pacific Northwest's most desirable walkable communities — Downtown Issaquah. Built in 2010 on a generous 6,000 square foot lot, this property delivers what serious investors and multigenerational buyers demand: two fully independent 3-bedroom units with separate entrances, functional layouts, and immediate income potential.
The lower-level unit spans 1,690 square feet and features 3 bedrooms, 1.5 bathroom, a separate dedicated office, soaring 9-foot ceilings, and an open-concept island kitchen designed for livability. The upper-level unit offers 1,380 square feet with 3 bedrooms, 1 bathroom, an island kitchen, and scenic views of Tiger Mountain — a premium that commands strong tenant demand in any market cycle.
Both units are bright, functional, and in excellent condition — ready for immediate tenancy or personal occupation. The SF-D zoning, off-street parking for two vehicles, and pride-of-ownership presentation make this a standout asset in today's constrained Issaquah market. With walkability to shops, restaurants, trails, and parks directly from your front door, tenants have every reason to stay long-term.
Whether your strategy is pure income investment, 1031 Exchange deployment, or multigenerational living, this property delivers the fundamentals that drive long-term wealth: location, quality construction, rental demand, and appreciation potential in a supply-constrained market.
Two Complete Residences
- 3 Spacious bedrooms with ample closet space
- Dedicated private office — ideal for remote work tenants
- Soaring 9-foot ceilings throughout
- Open-concept island kitchen with full appliances
- Gas range, dishwasher, full-size refrigerator
- Dark hardwood floors in kitchen and living areas
- Private separate entrance from street level
- Access to deck, patio, and yard
- 3 Bedrooms with natural light throughout
- Scenic Tiger Mountain territorial views
- Open-concept island kitchen with full appliances
- Large bay window living room — abundantly light-filled
- Private separate entrance — fully independent unit
- Elevated position provides privacy and elevated views
- Well-maintained carpet and vinyl flooring
- Heat pump for efficient year-round climate control
The Numbers Work
Downtown Issaquah commands premium rents — driven by Issaquah School District desirability, walkability to shops and trails, and limited rental supply at this unit size. Based on current market comparables for 3BR/1BA units in Old Town Issaquah, this duplex projects $7,000–$7,800 in gross monthly rental income — among the strongest income profiles for any duplex in the 98027 zip code.
Below is a transparent conservative-to-optimistic range analysis. Smart investors underwrite conservatively and benefit from the upside. This property delivers on both ends of the range.
For 1031 Exchange buyers: this is a qualified like-kind replacement property generating meaningful income in a strong appreciation market — exactly the profile that sustains long-term portfolio growth without triggering capital gains.
Rental projections are estimates based on current Downtown Issaquah market comparables for 3BR/1BA units and are not guaranteed. Operating expense assumptions include property tax (~1% of purchase price), insurance, 5% maintenance reserve, and 5% vacancy allowance. Buyers should conduct independent due diligence with a qualified property manager and financial advisor prior to purchase.
| Metric | Conservative | Optimistic |
|---|---|---|
| Lower Unit Rent | $3,500/mo | $4,000/mo |
| Upper Unit Rent | $3,500/mo | $3,800/mo |
| Gross Monthly Income | $7,000 | $7,800 |
| Gross Annual Income | $84,000 | $93,600 |
| Property Tax (~1%) | $17,000 | $17,000 |
| Insurance (est.) | $3,500 | $3,500 |
| Maintenance Reserve (5%) | $4,200 | $4,680 |
| Vacancy Allowance (5%) | $4,200 | $4,680 |
| Total Annual Expenses | ~$28,900 | ~$29,860 |
| Net Operating Income | ~$55,100 | ~$63,740 |
| Cap Rate | ~3.2% | ~3.75% |
| Price Per Unit | $849,975 | |
| Gross Rent Multiplier | 20.2x | 18.2x |
Why 260 SE Andrews
Is the Right Investment
- $900K–$1.2M for single income stream only
- HOA fees $300–$600/month ($3,600–7,200/yr)
- No rental income to offset costs
- Builder premium baked in — limited appreciation upside
- Generic design with no investment flexibility
- No multigenerational or house-hack potential
- $1,699,950 for two income-producing units
- No HOA — zero monthly ownership drag
- $7,000–$7,800/mo gross rental income potential
- 1031 Exchange qualified replacement property
- 2010-built — low-maintenance modern systems
- Issaquah School District — premium tenant magnet
- Walkable to all of Downtown Issaquah
- SF-D zoning — multigenerational living flexibility
- $800K–$1.1M for comparable square footage
- Single tenant risk — vacancy = zero income
- Less walkable — weaker long-term tenant appeal
- Longer commute reduces tenant retention
- No hedge across two independent income streams
- Lower appreciation story than Old Town location
Old Town Issaquah —
Where Tenants Choose to Stay
In rental investment, location determines tenant quality, retention, and long-term income stability. Old Town Issaquah delivers on every dimension that today's premium tenant demands: walkable access to dining and retail, proximity to nature and trails, and a genuine community identity that residents become deeply attached to.
Downtown Issaquah has a walk score of 93 — one of the highest in King County east of Seattle. This isn't a neighborhood people leave. With Issaquah School District schools consistently ranked among the best in Washington State, tenants with families anchor here for years, not months.
The Salmon Days Festival, Village Theatre, local farmers market, and a thriving Front Street restaurant scene give this neighborhood a cultural richness that apartment complexes and suburban rentals simply cannot replicate. Your tenants aren't just renting square footage — they're buying into a lifestyle. That loyalty is your stability.
Walk Through
Both Units
A complete interior tour of the lower and upper units filmed on location in Old Town Issaquah
Ready to Move Forward?
All inquiries are treated with strict confidentiality. Your information will never be shared with third parties. Freddy Delgadillo, Realogics Sotheby's International Realty · (425) 941-8688 · Freddy@JudahRealty.com
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