Parkwood Homes with 56 - 10+ Units Style

Welcome to Parkwood, a hidden gem nestled in the heart of Seattle, Washington. This vibrant neighborhood is a delightful blend of suburban charm and urban convenience, making it an ideal place for families, young professionals, and retirees alike. With its tree-lined streets and friendly atmosphere, Parkwood offers a warm sense of community that is hard to find in larger cities.

One of the most appealing aspects of Parkwood is its diverse range of housing options. Here, you'll find homes with 56 to 10+ units, showcasing a unique architectural style that reflects the neighborhood's character. From modern townhouses to charming multi-family residences, Parkwood caters to various lifestyles and preferences. These homes are designed to foster a sense of community, with shared spaces that encourage interaction among neighbors.

Nature enthusiasts will appreciate Parkwood's proximity to beautiful parks and green spaces. The neighborhood is dotted with playgrounds, walking trails, and picnic areas, making it perfect for outdoor activities and family gatherings. Additionally, Parkwood's location provides easy access to Seattle's vibrant cultural scene, with an array of restaurants, shops, and entertainment options just a short drive away.

For those seeking a peaceful yet connected lifestyle, Parkwood is an ideal choice. With its welcoming community, diverse housing styles, and convenient access to the best of Seattle, this neighborhood truly has something for everyone. Come explore Parkwood and discover your perfect home in this enchanting corner of the Pacific Northwest!

Newest Parkwood Homes with 56 - 10+ Units Style

$2,450,000

2555010 MLS ⋅ ACTIVE Status

The property sits in one of North Seattle’s fastest-improving rental corridors. The location is further supported by Sound Transit’s new Shoreline South/148th light rail station and direct bus access to downtown Seattle. The offering represents an operational value-add opportunity. The asset is in good physical condition, bolstered by recent capital improvements including a new TPO membrane roof (2023), upgraded electrical panels (2024), and replaced window panes (2025). With the option to upgrade units on turnover and capture premium rents as leases roll, and with scheduled rents below market and no utility bill-back currently in place, a new ownership group can grow income through natural lease turnover, selective unit upgrades, and the implementation of a utility recapture program, meaningfully lifting NOI. At market operations, the offering achieves a 7.4% cap rate and a 9.7% cash-on-cash return, giving new ownership strong performance upside as rents are brought up to market. At just $238 per square foot and $175,000 per door, the property presents an exceptional basis for a 1980s-built asset, well below recent comparable sales in the area. Current in-place rents average $1,205 for the eleven one-bedroom units and $1,617 for the three two-bedroom units, while comparable properties in the area are achieving approximately $1,550 and $1,875.

712 N 143rd Street, Seattle

Listing courtesy of Paragon Real Estate Advisors.

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