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. This area is ideal for families, young professionals, and anyone looking to enjoy the beauty of the Pacific Northwest while having access to the amenities of a bustling city.

Lake City is characterized by its lush parks and green spaces, providing residents with ample opportunities for outdoor activities. The nearby Lake City Park and the expansive Matthews Beach Park offer serene spots for picnicking, hiking, and enjoying the stunning views of Lake Washington. The neighborhood also boasts a variety of local shops, cafes, and restaurants, creating a vibrant atmosphere that encourages community engagement and social interaction.

When it comes to housing, Lake City features a diverse array of homes, including multi-family units ranging from 56 to 10+ units. These properties are perfect for investors looking to capitalize on the growing demand for rental units in Seattle. With their well-designed layouts and proximity to public transportation, schools, and local amenities, these homes provide an excellent opportunity for both residents and investors alike.

Living in Lake City means being part of a community that values inclusivity and connection. With its welcoming atmosphere, beautiful surroundings, and a variety of housing options, Lake City is a fantastic place to call home. Whether you’re looking to settle down or invest in your future, this neighborhood has something special to offer everyone. Come and discover the charm of Lake City today!

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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