11521 26th Ave NE - Apartments FOR SALE


Seattle, WA 98125
$3,500,000 USD
206-826-5788
11521 26th Ave NE, Seattle, WA for Sale
$3,500,000 USD
Apartments - FOR SALE
1/11
null | 5.44% Cap Rate

11521 26th Ave NE
Seattle, WA 98125


HIGHLIGHTS

  • Well maintained property: copper plumbing throughout, new roof (2023), updated electrical panels (2016), new exterior stairwell (2024)
  • Strong unit mix: one and two bedroom units averaging 725 square feet
  • Excellent land basis: 19,600 square foot lot with LR3 (M) zoning

OVERVIEW

The Capri Apartments is a fifteen unit community located in the Lake City neighborhood of Seattle. Originally constructed in 1962, the Capri has been carefully maintained and updated to ensure that it’s a desirable community for tenants and a low-maintenance asset for ownership. Boasting a walk score of 73, the property is situated within a one-mile walk of all your everyday essentials. Comprised of six ±613 square foot one bedroom units and nine ±798 two bedroom units, the property offers a range of living spaces that are desirable to tenants looking to take advantage of that Seattle has to offer. Lake City is a diverse and evolving neighborhood known for its blend of suburban tranquility and urban convenience. Historically developed in the mid-20th century, it features a variety of housing options, from mid-century single-family homes to modern apartments, catering to different income levels. The area is enriched by its multicultural population and offers numerous amenities, including parks, community centers, libraries, and a mix of local businesses and dining options along Lake City Way. It is well-connected by public transportation and major highways, making it accessible for commuters. Capri has been extensively maintained and has copper plumbing, a new roof (2023), updated electrical panels in all units (2016), all water heaters are current and new exterior stairwells(2024). The interior of the units have been well maintained and updated as well, featuring LVP flooring throughout, stone countertops and dishwashers in select units. On site, there’s a central courtyard for all tenants, on site community laundry and ample parking of 16 off-street spaces. These improvements not only enhance the property’s curb appeal but also contribute to the long-term durability, reducing maintenance costs for the foreseeable future.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$314 USD /SF

# OF UNITS

15

PRICE/UNIT

$233,333

CAP RATE

5.44%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Capri Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

LR3

APN/PARCEL ID

344800-1435

ASK ABOUT THIS PROPERTY

Jake MorseMarcus & MillichapMore Info
206-826-5788

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jake MorseMarcus & MillichapMore Info
206-826-5788

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.