Lake City Homes with 56 - 10+ Units Style

Welcome to Lake City, a vibrant neighborhood nestled in the heart of Seattle, Washington. 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 local businesses, and a strong sense of community, it’s no wonder that Lake City is becoming one of Seattle’s most sought-after residential areas.

Lake City is characterized by its dynamic housing market, featuring a range of homes from cozy bungalows to expansive multi-family units. For those seeking investment opportunities or spacious living arrangements, the neighborhood boasts a variety of homes with 56 to 10+ units, making it ideal for both homeowners and investors alike. These properties not only provide ample living space but also the chance to be part of a thriving rental market, thanks to the area's proximity to major employment hubs and excellent public transportation options.

Residents enjoy easy access to an array of amenities, including local shops, restaurants, and cafes, all within walking distance. The neighborhood is also home to beautiful parks like the popular Lake City Park, perfect for outdoor enthusiasts and families alike. With a strong community vibe, regular events, and a commitment to sustainability, Lake City is a place where neighbors become friends and memories are made.

If you’re looking for a community that offers both a welcoming atmosphere and a wealth of housing options, Lake City is the perfect place to call home. Discover the charm and potential of this thriving 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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