Bitter Lake Homes with 55 - 5-9 Units Style

Welcome to Bitter Lake, a vibrant and inviting neighborhood nestled in the heart of Seattle, Washington. Known for its lush green spaces, friendly community, and eclectic charm, Bitter Lake offers a unique blend of urban living and suburban tranquility. This area is perfect for those seeking a balance between the hustle and bustle of city life and the serene beauty of nature.

One of the standout features of Bitter Lake is its diverse housing options. The neighborhood showcases a delightful array of homes, particularly those with 5-9 unit styles, catering to a variety of lifestyles and budgets. These multi-family residences offer a sense of community while providing the privacy and comfort of home. Whether you're a first-time buyer, a growing family, or looking to invest, Bitter Lake's homes are designed to meet your needs.

Residents of Bitter Lake enjoy easy access to nearby parks, including the scenic Bitter Lake Park, which features walking trails, picnic areas, and playgrounds, making it an ideal spot for outdoor enthusiasts and families alike. The neighborhood is also conveniently located near major transportation routes, allowing for effortless commutes to downtown Seattle and beyond.

With a rich tapestry of local shops, cafes, and restaurants, Bitter Lake fosters a strong sense of community. Residents can often be found enjoying the vibrant local scene or participating in neighborhood events that bring everyone together. Experience the charm of Bitter Lake, where community spirit meets modern living, and discover your perfect home in this enchanting Seattle neighborhood.

Newest Bitter Lake Homes with 55 - 5-9 Units Style

$1,895,000

2538004 MLS ⋅ ACTIVE Status

Bittertree Condominiums is an eight-unit apartment building at 13310 Greenwood Ave N in Seattle’s Greenwood neighborhood. Built in 1996, the property features two large studios, two one-bedroom units, and four two-bedroom units. All units include in-unit washers and dryers, private balconies, and access to a secured garage with seven parking stalls. The building sits on a 6,787 SF LR3 (M) zoned lot on Greenwood Avenue. This is a stabilized asset with upside potential. Five units have been updated with luxury vinyl plank flooring and newer appliances. The remaining three are occupied by long-term tenants with below-market rents, offering an opportunity to increase income through natural turnover. With separate electric meters, water sub-metering, and modern construction, the property offers a low-maintenance, efficient operating profile. Seller financing is available with 30% down and a five-year interest-only term: 5.0% interest in years one and two, and 5.5% in years three through five. The investment delivers a 5.7% cap rate and 7.2% cash-on-cash return at acquisition, increasing to a 6.6% cap rate and 10.2% cash-on-cash return as rents reach market levels.

13310 Greenwood Avenue N, Seattle

Listing courtesy of Paragon Real Estate Advisors.

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