Bitter Lake Homes with 55 - 5-9 Units Style

Bitter Lake Homes with 55 - 5-9 Units Style

Welcome to Bitter Lake, a hidden gem nestled in the heart of Seattle, Washington. This vibrant neighborhood is renowned for its serene lakeside atmosphere, lush parks, and strong sense of community. With its picturesque views and diverse surroundings, Bitter Lake offers a unique blend of urban convenience and natural beauty, making it an ideal place for families, young professionals, and retirees alike.

Bitter Lake is characterized by its charming residential streets, where you’ll find a delightful mix of homes, including the sought-after 55-59 units style. These homes provide a perfect balance of space and intimacy, making them perfect for those who appreciate a cozy yet spacious living environment. The architectural styles here range from modern townhouses to classic mid-century homes, each exuding its own character and charm.

Residents of Bitter Lake enjoy easy access to a variety of amenities, including local cafes, shops, and recreational facilities. The nearby Bitter Lake Park is a favorite spot for outdoor enthusiasts, offering walking trails, picnic areas, and a serene lake for kayaking or fishing. The neighborhood is also well-connected to public transportation, making commuting to downtown Seattle a breeze.

With a strong sense of community and an array of activities that cater to all ages, Bitter Lake is not just a place to live, but a place to thrive. Whether you’re looking for a peaceful retreat or an active lifestyle, this neighborhood has something for everyone. Discover the charm of Bitter Lake and find your dream 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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