Bitter Lake Homes with 55 - 5-9 Units Style

Welcome to Bitter Lake, a hidden gem nestled in the vibrant city of Seattle, Washington. Known for its serene atmosphere and community-focused vibe, Bitter Lake offers a unique blend of urban convenience and natural beauty. This diverse neighborhood is characterized by its lush green spaces and picturesque views, making it a perfect retreat for families, young professionals, and retirees alike.

One of the standout features of Bitter Lake is its accessibility to both the bustling city life of Seattle and the tranquility of nature. Residents are just a short drive away from downtown Seattle, where they can enjoy a plethora of dining, shopping, and entertainment options. For those who appreciate the outdoors, Bitter Lake itself provides ample opportunities for recreation, with parks and waterfront access that invite leisurely strolls, picnics, and water activities.

When it comes to housing, Bitter Lake boasts a charming selection of homes, particularly those styled as 5-9 unit complexes. These homes not only offer a sense of community but also provide a variety of living options that cater to different lifestyles. From cozy townhomes to spacious multi-family units, residents can find a place that suits their needs without sacrificing comfort or style. The architectural diversity in this area reflects the rich history and evolving character of Bitter Lake, making it an attractive option for homebuyers seeking both charm and convenience.

In Bitter Lake, you’ll discover a neighborhood that feels like home, where neighbors become friends and every corner holds the promise of new adventures. Come and explore the warmth and vibrancy of Bitter Lake—your ideal Seattle sanctuary awaits!

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.

Start Your Search

Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.