Lake City Homes with 56 - 10+ Units Style

Welcome to Lake City, a vibrant and welcoming neighborhood nestled in the heart of Seattle, Washington. Known for its rich tapestry of cultures and community spirit, Lake City offers a unique blend of urban convenience and suburban charm. With its lush parks, diverse dining options, and an array of local shops, this area is perfect for families, professionals, and everyone in between.

Lake City is particularly appealing for those looking for multi-family housing options, featuring homes with 56 to 10+ units. This style of living is ideal for investors seeking to capitalize on the ever-growing demand for rental properties in Seattle. The neighborhood's strategic location provides easy access to major highways, public transportation, and the bustling downtown area, making it a prime spot for commuters.

Residents of Lake City enjoy a plethora of amenities, including scenic parks like the beautiful Lake City Park, where families can gather for picnics or enjoy a sunny day outdoors. The community hosts a variety of events throughout the year, fostering a sense of belonging among neighbors. Additionally, the local schools are highly rated, ensuring that families have access to quality education.

In terms of dining, Lake City boasts an eclectic mix of eateries, from cozy cafes to international cuisine, catering to every palate. The area’s rich cultural diversity is reflected in its culinary offerings, making it a foodie’s paradise.

If you're looking for a community that combines the best of urban living with a strong sense of neighborhood, Lake City is the place to be. Discover your next investment opportunity or find your forever home in this enchanting Seattle enclave 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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