Bitter Lake Homes with 55 - 5-9 Units Style

Welcome to Bitter Lake, a hidden gem nestled in the vibrant city of Seattle, Washington. This charming neighborhood is known for its serene atmosphere, lush greenery, and a strong sense of community. With its proximity to the stunning Bitter Lake and a wealth of parks, residents enjoy a perfect blend of urban convenience and natural beauty.

Bitter Lake is an ideal spot for families, young professionals, and anyone seeking a tranquil lifestyle without sacrificing access to the city’s amenities. The area boasts a variety of local shops, cafes, and restaurants, offering a delightful mix of culinary experiences and boutique shopping. The community is also well-connected, with easy access to major highways and public transportation, making commuting a breeze.

When it comes to housing, Bitter Lake features a unique collection of homes, particularly those with the 5-9 units style. These charming multi-family residences offer a fantastic opportunity for investors and homebuyers alike. With their spacious layouts and modern amenities, these homes are designed to accommodate a range of lifestyles. Whether you're looking for a cozy apartment or a larger unit for a growing family, you'll find plenty of options to suit your needs.

Additionally, the neighborhood's commitment to community engagement and safety makes it a desirable place to call home. Enjoy peaceful strolls along the lake, participate in local events, or simply relax in one of the many nearby parks. Bitter Lake is more than just a place to live; it’s a welcoming community where you can truly feel at home. Come discover the charm of Bitter Lake today!

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.

Start Your Search

Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.