Lake City Homes with 56 - 10+ Units Style

Welcome to Lake City, a vibrant neighborhood nestled in the heart of Seattle, Washington, within King County. Known for its diverse community and rich cultural tapestry, Lake City offers a unique blend of urban convenience and suburban charm. With its lush parks, bustling shopping centers, and a variety of dining options, this area is perfect for families, young professionals, and retirees alike.

One of the standout features of Lake City is its array of homes, particularly those with 56 to 10+ units. These multi-family dwellings provide an excellent opportunity for investors and homeowners looking for spacious living arrangements. The architecture reflects a harmonious mix of modern aesthetics and classic designs, catering to a wide range of tastes. Many of these homes are located within walking distance of local amenities, ensuring residents enjoy easy access to everything they need.

The neighborhood is also known for its strong sense of community. Residents frequently gather at local parks, such as the beautiful Lake City Park, where you can enjoy picnics, sports, and seasonal events. The vibrant arts scene and community centers host various activities, fostering connections among neighbors.

Additionally, Lake City boasts excellent transportation links, making it easy to explore the greater Seattle area. Whether you're commuting to downtown Seattle or heading out for a weekend adventure, you'll appreciate the accessibility this neighborhood offers.

In Lake City, you’ll find not just a place to live, but a community to call home. Discover the charm and convenience of this welcoming neighborhood 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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