Parkwood Homes with 56 - 10+ Units Style

Welcome to Parkwood, a hidden gem nestled in the heart of Seattle, Washington. This charming neighborhood is known for its serene atmosphere, lush greenery, and a strong sense of community. Parkwood offers residents a perfect blend of suburban tranquility and urban convenience, making it an ideal place to call home.

As you stroll through the tree-lined streets, you’ll be captivated by the diverse architectural styles that characterize the homes in Parkwood. From cozy bungalows to modern townhouses, the neighborhood boasts a variety of residences, including those with 56 to 10+ units, perfect for families, professionals, and investors alike. Many of these homes feature spacious layouts, contemporary finishes, and beautiful outdoor spaces, providing an inviting retreat for all who live here.

Parkwood’s prime location means you’re never far from the best that Seattle has to offer. Enjoy easy access to nearby parks, such as the lush greenery of the local park, ideal for picnics, jogging, or simply soaking in the natural beauty. The neighborhood is also conveniently located near shopping centers, restaurants, and cultural attractions, ensuring that residents can enjoy a vibrant lifestyle without sacrificing peace and quiet.

For families, Parkwood is served by reputable schools and community resources, making it a great place to raise children. With its friendly atmosphere and welcoming neighbors, Parkwood truly embodies the essence of community living in Seattle. Whether you’re looking to buy, rent, or invest, this neighborhood is a fantastic choice that promises a fulfilling and enriching lifestyle. Come discover the charm of Parkwood—your dream home awaits!

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 Broker: Paragon Real Estate Advisors; Michael Urquhart; 206-812-9123; michael@paragonrea.com

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