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 diverse community and rich cultural tapestry, Lake City offers a unique blend of urban convenience and suburban charm. With a variety of parks, local shops, and restaurants, residents enjoy a lifestyle that balances the hustle and bustle of city living with the serenity of nature.

Lake City is particularly appealing to families and professionals alike, thanks to its excellent schools and close-knit community feel. The neighborhood boasts a range of recreational options, including the expansive Lake City Park and the scenic Thornton Creek, perfect for outdoor enthusiasts and nature lovers. With easy access to public transportation and major highways, commuting to downtown Seattle or exploring nearby attractions is a breeze.

For those looking to invest in real estate, Lake City is home to a variety of housing options, including homes with 56 to 10+ units. These multi-family properties present an excellent opportunity for investors seeking to capitalize on the growing demand for rental units in the area. With a steady influx of new residents drawn to the neighborhood's amenities and accessibility, investing in Lake City real estate promises potential for both growth and stability.

Whether you're searching for a cozy condo, a spacious townhouse, or a multi-family investment property, Lake City has something to offer everyone. Discover the charm and potential of this dynamic neighborhood, where community spirit meets urban convenience, 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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