Bitter Lake Homes with 55 - 5-9 Units Style

Welcome to Bitter Lake, a hidden gem nestled in the heart of Seattle, Washington. This vibrant neighborhood offers a unique blend of suburban tranquility and urban convenience, making it an ideal place for families, young professionals, and retirees alike. With its lush parks, welcoming community, and diverse amenities, Bitter Lake is quickly becoming one of Seattle’s most sought-after locales.

One of the standout features of Bitter Lake is its charming residential architecture, particularly the homes designed in the 55-59 unit style. These residences are perfect for those looking for a sense of community without sacrificing personal space. The thoughtful layout and design of these homes provide ample room for both relaxation and entertainment, making them perfect for gatherings with friends and family.

Bitter Lake is surrounded by natural beauty, with the serene Bitter Lake Park serving as a focal point for outdoor enthusiasts. The park offers walking trails, picnic areas, and playgrounds, ensuring that residents can enjoy the great outdoors right in their backyard. Additionally, the neighborhood boasts excellent schools, local shops, and dining options, all within a short distance, making everyday living a breeze.

With easy access to public transportation and major highways, commuting to downtown Seattle or exploring the surrounding areas is effortless. Whether you’re drawn to the community spirit, the beautiful parks, or the charming homes, Bitter Lake is a neighborhood that truly has something for everyone. Come discover the warmth and charm of Bitter Lake and find your dream home 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.

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