11255 Greenwood AVE N, Seattle, WA 98133
11255 Greenwood AVE N, Seattle, WA 98133
11255 Greenwood AVE N, Seattle, WA 98133
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Jason Randall

Jason Randall

+1(425) 466-3033
Listed by:Lee & Associates Commercial RE • Dea Sumantri
$2,200,000
Est. payment /mo
18 Beds
16 Baths
6,711 Sqft Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Broadview

MLS Listing ID 2587180

Style 56 - 10+ Units

Bedrooms 18

Year Built 1976

Annual Tax Amount $26,549

Lot Size 6,711 Sqft

Property Sub-Type Multi Family

Property Description

We are pleased to present the Shoreline View Apartments, a well-maintained, pride-of-ownership 10-unit property prominently located along Greenwood Avenue North in Seattle's growing Greenwood neighborhood. Built in 1976, the property offers a unit mix of two 3-BD/2-BTH units, four 2-BD/2-BTH units, and four 1-BD/1-BTH units. Spacious floorplans, abundant natural light, private decks in most units, and updated appliances enhance renter appeal, while residences on the upper two floors enjoy water views. The property has also benefited from meaningful capital improvements, including a full roof replacement in 2017 and window replacements in 2019. Property amenities include covered and off-street parking, secured entry, elevator access, storage units, and on-site laundry. The location provides convenient access to transit, Carkeek Park, Trader Joe's, Fred Meyer, and the abundant retail, dining, and entertainment offerings of Greenwood and Phinney Ridge. Shoreline View presents a compelling value-add opportunity for investors seeking meaningful rental upside in North Seattle. Current rents are approximately 16% below market, providing near-term income growth potential, while unit renovations and repositioning could support an estimated 32% increase over current rents. The combination of pride-of-ownership conditions, recent capital improvements, desirable amenities, and significant rental upside creates an attractive opportunity to enhance returns over time.

Location

State WA

County King

Area 705 - Ballard/Greenlake

Interior

Flooring Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Stucco

Amenities Available Deck

View Y/N Yes

View Sound, Territorial

Roof Type Flat

Building

Lot Description Corner Lot, Paved, Sidewalk

Sewer Sewer Connected

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.lee-associates.com/northwest/properties/?propertyId=1688544-sale&address=11255-Greenwood-Ave-N&officeId=2085

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Northwest MLS (NWMLS)
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Jason Randall
Jason Randall

Managing Broker License ID: 119535

+1(425) 466-3033 | jasonr@johnlscott.com

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