Lake City Homes with 56 - 10+ Units Style

Welcome to Lake City, a vibrant and diverse neighborhood nestled in the heart of Seattle, Washington. Known for its rich cultural tapestry and community spirit, Lake City offers a unique blend of urban conveniences and natural beauty, making it an ideal place to call home.

Lake City is characterized by its charming residential streets, bustling commercial areas, and proximity to stunning green spaces. Residents enjoy easy access to several parks, including the expansive Lake City Park, where families can gather for picnics, and nature enthusiasts can explore scenic trails. The neighborhood boasts a variety of local shops, cafes, and restaurants, offering a taste of the eclectic culinary scene that Seattle is famous for.

One of the standout features of Lake City is its impressive array of homes, particularly those with 56 to 10+ units. These multi-family residences cater to a diverse population, making it an attractive option for investors and families alike. With a mix of modern amenities and classic architecture, these homes provide ample living space and foster a sense of community among residents.

Lake City is well-connected to the rest of Seattle, with excellent public transportation options and major roadways just minutes away. Whether you’re commuting to downtown Seattle or exploring the surrounding neighborhoods, the accessibility of Lake City makes it a convenient choice for urban living.

In Lake City, you’ll find not just a place to live, but a community that thrives on connection, culture, and the beauty of the Pacific Northwest. Come discover the charm of Lake City and see why it’s the perfect place to call home!

Newest Lake City Homes with 56 - 10+ Units Style

$2,250,000

2591168 MLS ⋅ ACTIVE Status

The Kensington, is 10-unit, three-story apartment building in Seattle's Lake City neighborhood, offered at approximately $214 per square foot. With a in place monthly income of nearly $19,000/mo. Unusually large units set it apart: (6) 2bd/1ba at approx. 1,100 SF and (4) 1bd/1ba at approx. 950 SF, each with a private balcony or patio. The property delivers a 6.20% cap rate today and a 7.54% cap rate at market. Recent capital improvements include a new roof (2023), plumbing upgrades, upgraded common areas, and new storage lockers. The building also has double pane vinyl windows throughout. Only one of the ten units has been renovated, so a buyer has a clear path to growing rents as units turn, with already strong in-place rents of $1,625 to $2,050 against market rents of $1,790 and $2,250 (assuming in-unit washer/dryers). Additional upside comes from charging for the 16 parking spaces and renting out all 9 storage lockers. Large units, a strong cap rate, and ample CapEx improvements all in an attractive and growing market make this a smart investment for anybody looking to expand their portfolio.

14333 32nd Avenue NE, Seattle

Listing Broker: Opal Blue Real Estate, LLC; Grant Fosheim; 425-359-7259; Grant@OpalBlueRE.com

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