Bitter Lake Homes with 56 - 10+ Units Style

Bitter Lake Homes with 56 - 10+ Units Style

Welcome to Bitter Lake, a vibrant and inviting neighborhood nestled in the heart of Seattle, Washington. Known for its lush landscapes and community spirit, Bitter Lake offers a unique blend of urban convenience and natural beauty, making it an ideal place for families, professionals, and anyone seeking a welcoming environment.

Bitter Lake is characterized by its diverse housing options, with a focus on homes featuring 56 to 10+ unit styles. This variety provides residents with numerous choices, whether you're looking for a cozy apartment, a spacious townhouse, or a multi-family dwelling. The architecture in the area reflects a charming mix of modern designs and classic styles, ensuring that there’s something for everyone.

One of the standout features of Bitter Lake is its proximity to recreational areas. Residents can enjoy the serene Bitter Lake Park, which offers walking trails, picnic spots, and opportunities for birdwatching. The nearby North Seattle Community College and various shopping centers add to the neighborhood's appeal, providing educational and retail options within easy reach.

Bitter Lake fosters a strong sense of community, with local events and gatherings that bring neighbors together. The area is well-served by public transportation, making commuting to downtown Seattle a breeze. With its friendly atmosphere, diverse housing styles, and access to nature, Bitter Lake is not just a place to live—it's a place to thrive. Explore the possibilities of calling this charming neighborhood home, where comfort meets convenience in the heart of Seattle.

Newest Bitter Lake Homes with 56 - 10+ Units Style

$1,518,000
2554023 MLS ⋅ ACTIVE Status
Exceptional 13-unit investment and redevelopment opportunity on a 13,440 SF lot in prime and highly connected North Seattle location. The property includes two buildings with a desirable mix of studio, one- and two-bedroom residences, offering multiple investment strategies. Continue operating as an income-producing apartment community, increase returns through rent optimization and strategic improvements, or hold as a long-term development site. Current gross scheduled income is approximately $14,288 per month, with additional upside as several rents remain below market. Most units have been updated. NC3-55 zoning may offer potential for a future multifamily development of approximately 60–80 units; buyer to verify all development feasibility. Conveniently located near Northgate Light Rail, transit, shopping, dining, major employers and daily amenities, with an 87 Walk Score. A compelling combination of current income, value-add potential and long-term redevelopment opportunity.

10531 Aurora Avenue N, Seattle

Listing courtesy of Real Property Associates.

$2,450,000
2555010 MLS ⋅ ACTIVE Status
The property sits in one of North Seattle’s fastest-improving rental corridors. The location is further supported by Sound Transit’s new Shoreline South/148th light rail station and direct bus access to downtown Seattle. The offering represents an operational value-add opportunity. The asset is in good physical condition, bolstered by recent capital improvements including a new TPO membrane roof (2023), upgraded electrical panels (2024), and replaced window panes (2025). With the option to upgrade units on turnover and capture premium rents as leases roll, and with scheduled rents below market and no utility bill-back currently in place, a new ownership group can grow income through natural lease turnover, selective unit upgrades, and the implementation of a utility recapture program, meaningfully lifting NOI. At market operations, the offering achieves a 7.4% cap rate and a 9.7% cash-on-cash return, giving new ownership strong performance upside as rents are brought up to market. At just $238 per square foot and $175,000 per door, the property presents an exceptional basis for a 1980s-built asset, well below recent comparable sales in the area. Current in-place rents average $1,205 for the eleven one-bedroom units and $1,617 for the three two-bedroom units, while comparable properties in the area are achieving approximately $1,550 and $1,875.

712 N 143rd Street, Seattle

Listing courtesy of Paragon Real Estate Advisors.

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