Lake City Homes with 56 - 10+ Units Style

Welcome to Lake City, a vibrant and diverse neighborhood nestled in the heart of Seattle, Washington. Known for its welcoming atmosphere and rich cultural tapestry, Lake City offers an ideal blend of urban convenience and suburban charm. With its lush parks, bustling shopping districts, and a strong sense of community, it’s no wonder that families, professionals, and retirees alike are drawn to this enchanting area.

Lake City is home to a variety of housing options, including multi-family residences that feature 56 to over 10 units. These homes are perfect for those looking for investment opportunities or a sense of community living. The architecture in the area is as diverse as its residents, with modern designs complementing charming older buildings, creating a unique and appealing streetscape.

One of the standout features of Lake City is its accessibility. Located just a short drive or public transit ride from downtown Seattle, residents enjoy the best of both worlds: the tranquility of suburban life and the excitement of a bustling city. The neighborhood is dotted with parks, such as the scenic Lake City Mini Park and the expansive Meadowbrook Playfield, providing ample opportunities for outdoor activities and family fun.

In addition to its natural beauty, Lake City boasts a thriving local economy, with an array of shops, restaurants, and services that cater to every need. From cozy cafés to eclectic boutiques, there’s always something new to discover.

Whether you’re seeking a place to call home or an investment opportunity, Lake City’s multi-family residences are a fantastic choice in one of Seattle’s most dynamic neighborhoods. Come explore the charm of Lake City and find your perfect home today!

Newest Lake City Homes with 56 - 10+ Units Style

$2,995,000

2503489 MLS ⋅ ACTIVE Status

6.26% CURRENT CAP RATE | Capri Apartments is a meticulously maintained 15-unit, courtyard-style apartment community located in the bustling Lake City neighborhood of Northeast Seattle. Originally constructed in 1962, Capri features copper plumbing and has undergone significant capital improvements over the past decade, including a new PVC roof (2024), updated electrical breaker panels (2016), luxury vinyl plank flooring and stone countertops in all units, double-pane vinyl windows, and a renovated exterior staircase, positioning the asset as both a desirable community for residents and a low-maintenance investment for ownership. The property offers an ideal unit mix, comprised of nine 2-bedroom units averaging 783 square feet and five 1-bedroom units averaging 683 square feet. Residents benefit from a central courtyard setting with lush greenery, on-site communal laundry (two washers & two dryers), 14 large storage lockers, and 16 off-street parking stalls available on a first-come, first-served basis. A new investor can capitalize on Capri’s current operations, which generate a 6.26% cap rate on in-place income, or execute a value-add business plan by converting the common laundry room into a 16th studio apartment (buyer to verify) and installing ventless, all-in-one washer/dryer combo units in each apartment to capture a 7.25% cap rate post renovation.

11521 26th Avenue NE, Seattle

Listing courtesy of Blake Investment Advisors.

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