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Listed by:Lee & Associates Commercial RE • Dea Sumantri
$ 2,200,000
Est. payment /mo
Active
11255 Greenwood AVE N Seattle, WA 98133
18 Beds
16 Baths
6,711 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Broadview
MLS Listing ID 2587180
Style 56 - 10+ Units
Bedrooms 18
Year Built 1976
Annual Tax Amount $26,549
Lot Size 6,711 Sqft
Property Sub-Type Multi Family
Property Description
We are pleased to present the Shoreline View Apartments, a well-maintained, pride-of-ownership 10-unit property prominently located along Greenwood Avenue North in Seattle's growing Greenwood neighborhood. Built in 1976, the property offers a unit mix of two 3-BD/2-BTH units, four 2-BD/2-BTH units, and four 1-BD/1-BTH units. Spacious floorplans, abundant natural light, private decks in most units, and updated appliances enhance renter appeal, while residences on the upper two floors enjoy water views. The property has also benefited from meaningful capital improvements, including a full roof replacement in 2017 and window replacements in 2019. Property amenities include covered and off-street parking, secured entry, elevator access, storage units, and on-site laundry. The location provides convenient access to transit, Carkeek Park, Trader Joe's, Fred Meyer, and the abundant retail, dining, and entertainment offerings of Greenwood and Phinney Ridge. Shoreline View presents a compelling value-add opportunity for investors seeking meaningful rental upside in North Seattle. Current rents are approximately 16% below market, providing near-term income growth potential, while unit renovations and repositioning could support an estimated 32% increase over current rents. The combination of pride-of-ownership conditions, recent capital improvements, desirable amenities, and significant rental upside creates an attractive opportunity to enhance returns over time.
Location
State WA
County King
Area 705 - Ballard/Greenlake
Interior
Flooring Vinyl Plank, Carpet
Fireplace false
Exterior
Exterior Feature Stucco
Amenities Available Deck
View Y/N Yes
View Sound, Territorial
Roof Type Flat
Building
Lot Description Corner Lot, Paved, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.