Bitter Lake Homes with 55 - 5-9 Units Style

Welcome to Bitter Lake, a hidden gem nestled in the vibrant city of Seattle, Washington. Known for its serene atmosphere and community-oriented spirit, Bitter Lake offers a unique blend of urban convenience and natural beauty. This charming neighborhood is characterized by its lush parks, scenic lake views, and welcoming streets, making it an ideal place for families, young professionals, and retirees alike.

One of the standout features of Bitter Lake is its diverse range of housing options, particularly the homes styled with 5-9 units. These multi-family residences provide an excellent opportunity for those looking to invest in a community-oriented environment. Whether you're seeking a cozy apartment or a spacious townhouse, the 5-9 unit homes in Bitter Lake offer a variety of layouts and amenities to suit your lifestyle. Many of these homes boast modern finishes, open-concept designs, and easy access to outdoor spaces, perfect for enjoying Seattle's mild climate.

Bitter Lake is not just about beautiful homes; it’s also a place where community thrives. Residents enjoy access to several parks, including the picturesque Bitter Lake Park, which features walking trails, picnic areas, and sports facilities. The neighborhood is also conveniently located near major transportation routes, making commuting a breeze. With a variety of local shops, restaurants, and cafes, you’ll find everything you need just a short stroll away.

In Bitter Lake, you’ll discover a vibrant community that celebrates both the tranquility of nature and the excitement of city living. Come explore this enchanting neighborhood and find your perfect home today!

Newest Bitter Lake Homes with 55 - 5-9 Units Style

$1,895,000

2538004 MLS ⋅ ACTIVE Status

Bittertree Condominiums is an eight-unit apartment building at 13310 Greenwood Ave N in Seattle’s Greenwood neighborhood. Built in 1996, the property features two large studios, two one-bedroom units, and four two-bedroom units. All units include in-unit washers and dryers, private balconies, and access to a secured garage with seven parking stalls. The building sits on a 6,787 SF LR3 (M) zoned lot on Greenwood Avenue. This is a stabilized asset with upside potential. Five units have been updated with luxury vinyl plank flooring and newer appliances. The remaining three are occupied by long-term tenants with below-market rents, offering an opportunity to increase income through natural turnover. With separate electric meters, water sub-metering, and modern construction, the property offers a low-maintenance, efficient operating profile. Seller financing is available with 30% down and a five-year interest-only term: 5.0% interest in years one and two, and 5.5% in years three through five. The investment delivers a 5.7% cap rate and 7.2% cash-on-cash return at acquisition, increasing to a 6.6% cap rate and 10.2% cash-on-cash return as rents reach market levels.

13310 Greenwood Avenue N, Seattle

Listing courtesy of Paragon Real Estate Advisors.

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