Bitter Lake Homes with 55 - 5-9 Units Style

Bitter Lake Homes with 55 - 5-9 Units Style

Welcome to Bitter Lake, a vibrant and welcoming neighborhood nestled in the heart of Seattle, Washington. Known for its picturesque surroundings and strong sense of community, Bitter Lake offers an idyllic lifestyle for families, professionals, and retirees alike. This charming enclave boasts a diverse mix of housing options, including the unique 55-59 units style homes that perfectly blend comfort and modern living.

Bitter Lake’s homes are designed with an emphasis on style and functionality, offering spacious layouts that cater to various lifestyles. The 55-59 unit homes provide an excellent opportunity for those seeking a close-knit community atmosphere while enjoying the convenience of urban living. With their contemporary designs, these residences often feature open-concept floor plans, large windows that invite natural light, and private outdoor spaces perfect for relaxing or entertaining.

The neighborhood is surrounded by lush parks and scenic waterfronts, making it an outdoor enthusiast's paradise. Bitter Lake Park, with its tranquil lake and walking trails, serves as a local gathering spot for picnics, sports, and leisurely strolls. Additionally, residents enjoy easy access to nearby amenities, including shopping centers, restaurants, and schools, ensuring that everything you need is just a stone's throw away.

With its blend of modern homes, community spirit, and natural beauty, Bitter Lake is not just a place to live; it’s a place to thrive. Come discover your new home in this enchanting Seattle neighborhood, where every day feels like a retreat.

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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