Parkwood Homes with 56 - 10+ Units Style

Welcome to Parkwood, a hidden gem nestled in the heart of Seattle, Washington. This vibrant neighborhood is characterized by its lush greenery, friendly community, and a perfect blend of urban convenience and suburban tranquility. With its charming tree-lined streets and well-maintained parks, Parkwood is ideal for families, young professionals, and anyone looking to enjoy a peaceful lifestyle while being just minutes away from the bustling city.

One of the standout features of Parkwood is its diverse range of homes, particularly those with 56 to 10+ units. These properties offer a unique opportunity for both investors and residents alike, as they provide an array of living options, from spacious townhomes to modern condominiums. Whether you are looking for a cozy unit with community amenities or a larger space with room to grow, Parkwood has something for everyone.

The neighborhood is well-connected, with easy access to major highways and public transportation, making commuting a breeze. Residents can enjoy nearby shopping centers, dining options, and recreational facilities, ensuring that everything you need is just a stone's throw away. For outdoor enthusiasts, the nearby parks and trails offer endless opportunities for hiking, biking, and enjoying the beautiful Pacific Northwest scenery.

With its welcoming atmosphere and a strong sense of community, Parkwood is more than just a place to live; it’s a place to call home. Explore the possibilities of living in this enchanting neighborhood and discover why so many have chosen to make Parkwood their sanctuary in Seattle.

Newest Parkwood Homes with 56 - 10+ Units Style

$2,450,000

2555010 MLS ⋅ ACTIVE Status

The property sits in one of North Seattle’s fastest-improving rental corridors. The location is further supported by Sound Transit’s new Shoreline South/148th light rail station and direct bus access to downtown Seattle. The offering represents an operational value-add opportunity. The asset is in good physical condition, bolstered by recent capital improvements including a new TPO membrane roof (2023), upgraded electrical panels (2024), and replaced window panes (2025). With the option to upgrade units on turnover and capture premium rents as leases roll, and with scheduled rents below market and no utility bill-back currently in place, a new ownership group can grow income through natural lease turnover, selective unit upgrades, and the implementation of a utility recapture program, meaningfully lifting NOI. At market operations, the offering achieves a 7.4% cap rate and a 9.7% cash-on-cash return, giving new ownership strong performance upside as rents are brought up to market. At just $238 per square foot and $175,000 per door, the property presents an exceptional basis for a 1980s-built asset, well below recent comparable sales in the area. Current in-place rents average $1,205 for the eleven one-bedroom units and $1,617 for the three two-bedroom units, while comparable properties in the area are achieving approximately $1,550 and $1,875.

712 N 143rd Street, Seattle

Listing courtesy of Paragon Real Estate Advisors.

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