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Listed by:Kidder Mathews • Dan Swanson
$1,280,000
Est. payment /mo
7 Beds
6 Baths
5,334 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 5,334 sqft
Price per Sqft $239
Subdivision Lake City
MLS Listing ID 2486762
Style 55 - 5-9 Units
Bedrooms 7
Year Built 1959
Annual Tax Amount $12,126
Lot Size 6,600 Sqft
Property Sub-Type Multi Family
Property Description
A meticulously maintained, value-add asset in a highly convenient Lake City/North Seattle location. Built in 1959, it combines strong in-place performance with significant upside potential in one of North Seattle's most connected neighborhoods. With a “Very Walkable” walk score of 88, residents are within easy reach of neighborhood restaurants, cafés, & shops. Close proximity to the Burke-Gilman Trail & Lake Washington and 6 bus routes within a 10-minute walk. Downtown and major employment centers are just minutes away. Orca Apartments consists of 5 one-beds and 1 two-bed. Units are notably oversized, averaging approx. 770 SF, and feature large living areas, generously sized closets, and dedicated dining spaces. Amenities include expansive decks, secured entry, some dishwashers, on-site laundry, & resident storage rooms. Units have been updated upon turnover, and one unit is fully renovated. The property has been extraordinarily well maintained, with recent improvements including a new roof, updated plumbing, modernized electrical panels, and dual-pane vinyl windows. There are 6 dedicated off-alley parking spaces in addition to convenient street parking directly in front of the building. Low historical turnover and likely ability to increase income by approx. 15% by adjusting rents to market and implementing a utility bill-back system. Orca Apartments offers investors durable cash flow today with clear, measurable value-add potential in a sought-after North Seattle location
Location
State WA
County King
Area 710 - North Seattle
Interior
Fireplace false
Exterior
Exterior Feature Brick
Amenities Available Fenced-Partially
View Y/N No
Roof Type Flat
Building
Lot Description Paved
Sewer Sewer Connected
Water Public
New Construction No
Schools
Elementary Schools John Hay Elementary
Middle Schools Jane Addams
High Schools Nathan Hale High
School District Seattle
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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