13322 Greenwood Ave N - Apartments FOR SALE


Seattle, WA 98133
$5,600,000 USD
253-486-6725
13322 Greenwood Ave N, Seattle, WA for Sale
$5,600,000 USD
Apartments - FOR SALE
1/1
null | 6.5% Cap Rate

13322 Greenwood Ave N
Seattle, WA 98133


HIGHLIGHTS

  • Rare Pride of Ownership Opportunity
  • Enormous Units
  • Ample Parking
  • Value Add Play

OVERVIEW

Cushman & Wakefield Capital Markets (“C&W”) is pleased to present an exclusive opportunity to acquire Greenwood North Apartments (the “Property”), a prime value-add investment located in the highly sought-after Greenwood neighborhood of North Seattle. This building is being offered for sale for the first time in over 40 years and has been meticulously maintained and cared for during that time. A tour of the property will reveal the true pride of ownership and the attention to detail evident throughout. Each unit features a private balcony or patio, and nine units have had washer and dryer installations, showcasing part of the value-add potential. By completing interior renovations and adding washers and dryers to the remaining units, average rent per unit could increase by approximately 25%. With each unit averaging over 1,000 square feet, Greenwood North offers a rental product that is both rare and not being replicated by new developments in the area. Greenwood North is conveniently located near a variety of retail amenities, highlighting its walkability. With the new North End light rail stations opening, the property is just 3 miles from the Shoreline light rail station and 9 miles from Seattle’s commercial business district. It also provides easy access to Northgate, Crown Hill, Phinney Ridge, and Ballard.

FOR SALE DETAILS

PRICE

$5,600,000 USD

PRICE/SF

$217 USD /SF

# OF UNITS

24

PRICE/UNIT

$233,333

CAP RATE

6.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Greenwood Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1966

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

LR3 (M)

APN/PARCEL ID

083200-0005

ASK ABOUT THIS PROPERTY

Jacob OdegardCushman & WakefieldMore Info
253-486-6725

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Jacob OdegardCushman & WakefieldMore Info
253-486-6725

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