Lake City Homes with 56 - 10+ Units Style

Located in Seattle, Washington, Lake City is a vibrant neighborhood that offers a perfect blend of urban convenience and natural beauty. Situated in King County, Lake City is a popular choice for those seeking a lively community with a small-town feel.

Lake City is known for its diverse population and welcoming atmosphere. The neighborhood boasts a range of amenities, including parks, restaurants, and shopping centers, making it an ideal place to live for families, young professionals, and retirees alike. With its close proximity to downtown Seattle, residents of Lake City enjoy easy access to the city's bustling cultural scene and employment opportunities.

One of the prominent housing styles in Lake City is the Homes with 56 - 10+ Units style. This style of housing offers a variety of options for those looking for multi-unit properties. Whether you are an investor seeking rental properties or a homeowner interested in living in a community setting, Lake City's Homes with 56 - 10+ Units style can cater to your needs.

These properties often feature modern amenities such as fitness centers, swimming pools, and communal spaces, providing residents with a convenient and comfortable living experience. The larger number of units also fosters a sense of community, allowing neighbors to connect and build relationships.

If you are looking for a neighborhood that offers a diverse community, convenient amenities, and a range of housing options, Lake City in Seattle is worth considering. With its Homes with 56 - 10+ Units style, you can find a property that suits your lifestyle and enjoy all that this vibrant neighborhood has to offer.

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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