Parkwood Homes with 56 - 10+ Units Style

Welcome to Parkwood, a hidden gem nestled in the heart of Seattle, Washington. This charming neighborhood offers a delightful blend of suburban tranquility and urban convenience, making it an ideal place for families, professionals, and anyone seeking a vibrant community to call home.

Parkwood is characterized by its lush greenery, with tree-lined streets and well-maintained parks that invite outdoor activities and leisurely strolls. The area boasts a rich tapestry of homes, including a variety of multi-unit residences ranging from 56 units to over 10 units. This diversity in housing styles provides ample options for those looking to invest in the thriving Seattle real estate market. Whether you're seeking a spacious apartment or a cozy condo, Parkwood has something to suit every lifestyle.

Residents of Parkwood enjoy easy access to a wealth of amenities. The neighborhood is conveniently located near shopping centers, local eateries, and recreational facilities, ensuring that everything you need is just a stone's throw away. With excellent public transportation options, commuting to downtown Seattle or other parts of King County is a breeze.

For families, Parkwood is served by top-rated schools and community programs, fostering a nurturing environment for children to grow and thrive. The sense of community here is palpable, with friendly neighbors and local events that promote connection and camaraderie.

In Parkwood, you’re not just buying a home; you’re investing in a lifestyle. Experience the perfect balance of serenity and accessibility, and discover why Parkwood is one of Seattle’s most sought-after neighborhoods. Come explore your future home today!

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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