8320 Lake City Way NE, Seattle, WA 98115
- $6,890,000
- 25,427
- SqFt
Listing courtesy of COMPASS.
- List Price
- $6,890,000
- Status
- PENDING
- MLS#
- 2507446
- Days on Market
- 79
- Style
- 56 - 10+ Units
- Building Condition
- Very Good
- Finished SqFt
- 25,427
- Area Total SqFt
- 25427
- Annual Tax Ammount
- 70743
- Lot Size (sq ft)
- 14,748
- Sewer
- Sewer Connected
Property Description
Vista Point Apartments, a well-maintained 30-unit multifamily property located in Seattle’s desirable Roosevelt neighborhood. Built in 1990, the property features 19 two-bedroom, two-bath units (~844 SF) and 11 one-bedroom, one-bath units (~599 SF), all with in-unit washer and dryers. The building offers secure access entry, gated parking with 37 on-site spaces, copper plumbing throughout, a new roof installed in 2023, and a brand new elevator completed in 2024. Current rents reach up to $1,500 for one-bedroom units and $2,000 for two-bedroom units, with a current cap rate of approximately 5.33% and significant upside through a renovation projected to achieve ~$1,995 and ~$2,600 respectively, resulting in a projected Renovated Cap Rate of approximately 9.30%. Additional income potential includes $60/month parking and utility bill-back (W/S/G), making this a compelling value-add opportunity with strong in-place fundamentals and long-term upside.
/u.realgeeks.media/homes77/logo-full.png){kind=logo}
Additional Information
- List Date
- 2026-05-23 16:30:13
- Community
- Roosevelt
- Net Operating Income
- $367,001
- Gross Adjusted Income
- $584,319
- Gross Scheduled Income
- $596,244
- Total Monthly Income
- $49,687
- Insurance Expenses
- $30,293
- Water/Sewer/Garbage Expenses
- $29,729
- Gross Rent Multiplier
- 11.56
- Total Expenses
- $217,318
- Cap Rate
- 5.33
- Vacancy Rate
- 2
- Total Number of Units
- 2
- Unit Name
- 8320
- Potential Terms
- Cash, Conventional
- Year Built
- 1990
- View
- See Remarks
- Roof
- See Remarks
- Site Features
- Deck, Gated Entry, Patio, Sprinkler System
- Other Expenses
- 86553
- Energy Source
- Electric
- School District
- Roosevelt
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $49,687
- Gross Scheduled Income
- $596,244
- Vacancy Rate
- 2
- Gross Adjusted Income
- $584,319
- Tax Year
- 2026
- Insurance Expense
- $30,293
- W/S/G Expenses
- $29,729
- Total Expenses
- $217,318
- Net Operating Income
- $367,001
- Gross Rent Multiplier
- 11.56
- Cap Rate
- 5.33
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.