Lake City Homes with 56 - 10+ Units Style

Welcome to Lake City, a vibrant neighborhood nestled in the heart of Seattle, Washington. Known for its welcoming community and diverse atmosphere, Lake City offers residents a unique blend of urban convenience and suburban charm. With its picturesque landscapes and lush greenery, this area is perfect for families, young professionals, and anyone looking to embrace the Seattle lifestyle.

Lake City is characterized by its rich cultural tapestry, featuring a variety of restaurants, shops, and recreational facilities. The neighborhood boasts a wealth of parks, including the expansive Lake City Park, where residents can enjoy outdoor activities like picnicking, walking trails, and playgrounds for the little ones. The local farmers' market is a popular weekend destination, showcasing fresh produce and artisanal goods that highlight the region's commitment to sustainability and community support.

When it comes to housing, Lake City offers an array of options, particularly for those interested in multi-family homes with 56 to 10+ units. These properties provide an excellent opportunity for investors and families alike, as they often come with spacious layouts and modern amenities. The neighborhood's real estate market is thriving, making it an attractive option for those looking to invest in a growing community.

With its convenient access to major highways and public transportation, Lake City ensures that residents can easily explore all that Seattle has to offer. Whether you’re commuting downtown or heading to the nearby waterfront, you’ll appreciate the seamless connectivity this neighborhood provides.

Discover the charm of Lake City, where community spirit and urban living harmoniously blend, making it an ideal place to call home.

Newest Lake City Homes with 56 - 10+ Units Style

$2,995,000

2503489 MLS ⋅ ACTIVE Status

6.26% CURRENT CAP RATE | Capri Apartments is a meticulously maintained 15-unit, courtyard-style apartment community located in the bustling Lake City neighborhood of Northeast Seattle. Originally constructed in 1962, Capri features copper plumbing and has undergone significant capital improvements over the past decade, including a new PVC roof (2024), updated electrical breaker panels (2016), luxury vinyl plank flooring and stone countertops in all units, double-pane vinyl windows, and a renovated exterior staircase, positioning the asset as both a desirable community for residents and a low-maintenance investment for ownership. The property offers an ideal unit mix, comprised of nine 2-bedroom units averaging 783 square feet and five 1-bedroom units averaging 683 square feet. Residents benefit from a central courtyard setting with lush greenery, on-site communal laundry (two washers & two dryers), 14 large storage lockers, and 16 off-street parking stalls available on a first-come, first-served basis. A new investor can capitalize on Capri’s current operations, which generate a 6.26% cap rate on in-place income, or execute a value-add business plan by converting the common laundry room into a 16th studio apartment (buyer to verify) and installing ventless, all-in-one washer/dryer combo units in each apartment to capture a 7.25% cap rate post renovation.

11521 26th Avenue NE, Seattle

Listing courtesy of Blake Investment Advisors.

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