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 welcoming atmosphere and rich community spirit, Lake City offers a unique blend of urban convenience and suburban charm. This neighborhood is a hidden gem, boasting a diverse array of shops, restaurants, and parks that cater to residents of all ages.

Lake City is particularly appealing for those seeking homes with 56 to 10+ units. These multi-family residences provide an excellent opportunity for investors and families alike, offering spacious living arrangements while fostering a close-knit community. The architecture in this area reflects a mix of modern designs and classic styles, ensuring that there’s something for everyone. With ample outdoor spaces and parks, such as the popular Lake City Mini Park, residents can enjoy the beauty of nature right at their doorstep.

The neighborhood is well-connected to the rest of Seattle, with easy access to public transportation and major highways, making commuting a breeze. Families will appreciate the quality schools in the area, as well as the variety of recreational activities available, from local sports leagues to community events.

Lake City is also known for its cultural diversity, with a rich tapestry of dining options that reflect the various cultures that call this neighborhood home. Whether you’re in the mood for a cozy café or a bustling international restaurant, Lake City has it all.

Come discover the charm of Lake City, where community, convenience, and comfort converge, making it the perfect place to call home!

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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