MLS #2507446 / Listing provided by NWMLS & COMPASS.
$6,890,000
8320 Lake City Way NE
Seattle,
WA
98115
Sq Ft
Per Sq Ft
Year Built
Vista Point Apartments, a well-maintained 30-unit multifamily property located in Seattle’s desirable Roosevelt neighborhood. Built in 1990, the property features 19 two-bedroom, two-bath units (~844 SF) and 11 one-bedroom, one-bath units (~599 SF), all with in-unit washer and dryers. The building offers secure access entry, gated parking with 37 on-site spaces, copper plumbing throughout, a new roof installed in 2023, and a brand new elevator completed in 2024. Current rents reach up to $1,500 for one-bedroom units and $2,000 for two-bedroom units, with a current cap rate of approximately 5.33% and significant upside through a renovation projected to achieve ~$1,995 and ~$2,600 respectively, resulting in a projected Renovated Cap Rate of approximately 9.30%. Additional income potential includes $60/month parking and utility bill-back (W/S/G), making this a compelling value-add opportunity with strong in-place fundamentals and long-term upside.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
- Possible Bedrooms: 49
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Garage Spaces: 37
- Parking Total: 0
- Total Uncovered Parking Spaces: 0
Structure
- Roof: See Remarks
- Exterior Features: Wood Products
- Foundation: See Remarks
Lot Details
- Lot Features: Corner Lot
- Acres: 0.3386
- Foundation: See Remarks
Schools
- High School District: Roosevelt
- High School: Buyer To Verify
- Middle School: Buyer To Verify
- Elementary School: Buyer To Verify
Lot Details
- Lot Features: Corner Lot
- Acres: 0.3386
- Foundation: See Remarks
Power
- Energy Source: Electric
Water, Sewer, and Garbage
- Sewer: Sewer Connected
- Water Source: Public
- Water, Sewer, and Garbage: 29729
Debbie Burk
Broker | REALTOR®
Send Debbie Burk an email