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Cassidy Thomas

cassidy@1realty.com +1(360) 739-4784

Listed by:COMPASS • Erich Bubbel

$6,890,000

Est. payment - /mo

3 Beds

3 Baths

25,427 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 25,427 sqft

Price per Sqft $270

Subdivision Roosevelt

MLS Listing ID 2507446

Style 56 - 10+ Units

Bedrooms 3

Year Built 1990

Annual Tax Amount $70,743

Lot Size 0.339 Acres

Lot Dimensions 14,748

Property Sub-Type Multi Family

Property Description

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.

Location

State WA

County King

Area 710 - North Seattle

Interior

Flooring Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Wood Products

Garage Spaces 37.0

Amenities Available Deck, Gated Entry, Patio, Sprinkler System

View Y/N Yes

View See Remarks

Roof Type See Remarks

Building

Lot Description Corner Lot

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Buyer To Verify

Middle Schools Buyer To Verify

High Schools Buyer To Verify

School District Roosevelt

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Cassidy Thomas

+1(360) 739-4784

Agent | License ID: 132279

Agent License ID: 132279

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8320 Lake City WAY NE Seattle, WA 98115

Cassidy Thomas

Key Details

Location

Interior

Exterior

Building

Schools

Others

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