5505 NE 65th Street, Seattle, WA 98115
- $1,600,000
- 3,610
- SqFt
Listing courtesy of Westlake Associates, Inc.. Selling Office: Skyline Properties, Inc..
- Sold Price
- $1,600,000
- List Price
- $1,650,000
- Status
- SOLD
- MLS#
- 2448363
- Closing Date
- Dec 19, 2025
- Days on Market
- 24
- Style
- 55 - 5-9 Units
- Finished SqFt
- 3,610
- Area Total SqFt
- 3610
- Annual Tax Ammount
- 13362
- Lot Size (sq ft)
- 6,000
- Sewer
- Sewer Connected
Property Description
Burkewood Apartments is an appealing 8-unit multifamily investment in Seattle’s sought-after Hawthorne Hills neighborhood. This well-maintained property, built in 1956, boasts 8 moderately updated 1BD/1BA units on a 6,000 SF lot zoned NR3, offering future redevelopment potential. Burkewood provides strong value-add opportunities via rent increases—current averages of $1,409 per unit could rise to proforma market levels of $1,550, elevating NOI from $86,662 to $110,933 and cap rate from 5.29% to 6.72%. The prime location, near Magnuson Park, the Burke-Gilman Trail, University of Washington, Seattle Children’s Hospital, and University Village, drives tenant appeal in a high-demand, supply-limited area with top schools and amenities.
/u.realgeeks.media/homes77/logo-full.png){kind=logo}
Additional Information
- List Date
- 2025-11-25 00:00:00
- Community
- Hawthorne Hills
- Net Operating Income
- $87,289
- Gross Adjusted Income
- $130,923
- Gross Scheduled Income
- $137,814
- Total Monthly Income
- $11,485
- Insurance Expenses
- $3,249
- Water/Sewer/Garbage Expenses
- $8,988
- Gross Rent Multiplier
- 11.97
- Total Expenses
- $43,634
- Cap Rate
- 5.29
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 5505
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1956
- Roof
- Flat, Torch Down
- Other Expenses
- 18035
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $11,485
- Gross Scheduled Income
- $137,814
- Vacancy Rate
- 5
- Gross Adjusted Income
- $130,923
- Tax Year
- 2025
- Insurance Expense
- $3,249
- W/S/G Expenses
- $8,988
- Total Expenses
- $43,634
- Net Operating Income
- $87,289
- Gross Rent Multiplier
- 11.97
- Cap Rate
- 5.29
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.