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 offers a unique blend of urban convenience and serene natural beauty, making it an ideal place to call home. Situated in King County, Bitter Lake is known for its welcoming community, diverse culture, and easy access to a variety of amenities.

One of the standout features of Bitter Lake is its picturesque surroundings. The neighborhood is bordered by the tranquil Bitter Lake, which provides residents with beautiful views and opportunities for outdoor recreation, including kayaking, fishing, and leisurely strolls along the shoreline. The nearby parks, such as the expansive Bitter Lake Playfield, offer ample space for picnics, sports, and family gatherings, making it a perfect spot for both relaxation and play.

Bitter Lake is also conveniently located with easy access to major thoroughfares, allowing residents to explore all that Seattle has to offer. From trendy eateries and local shops to cultural attractions and entertainment venues, everything you need is just a short drive or public transit ride away.

When it comes to housing, Bitter Lake features a variety of options, including charming homes with 5-9 units that cater to different lifestyles. These residences offer a sense of community while providing the privacy and comfort of home. Whether you’re a first-time buyer, a growing family, or looking to downsize, you’ll find plenty of appealing choices in this delightful neighborhood.

Discover the warmth and character of Bitter Lake, where community spirit thrives, and the beauty of nature is just outside your door. Come explore your future home in this enchanting Seattle neighborhood!

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.

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