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14333 32nd AVE NE, Seattle, WA 98125
14333 32nd AVE NE, Seattle, WA 98125
14333 32nd AVE NE, Seattle, WA 98125
31
See all 31 photos
Listed by:Opal Blue Real Estate, LLC • Grant Fosheim
$2,225,000
Est. payment /mo
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16 Beds
10 Baths
12,566 SqFt
Active

14333 32nd AVE NE Seattle, WA 98125

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Henry Jamerson

Henry Jamerson

+1(206) 839-6096

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 12,566 sqft

Price per Sqft $177

Subdivision Lake City

MLS Listing ID 2591168

Style 56 - 10+ Units

Bedrooms 16

Year Built 1973

Annual Tax Amount $22,146

Lot Size 0.292 Acres

Property Sub-Type Multi Family

Property Description

The Kensington, is 10-unit, three-story apartment building in Seattle's Lake City neighborhood, offered at approximately $214 per square foot. With a in place monthly income of nearly $19,000/mo. Unusually large units set it apart: (6) 2bd/1ba at approx. 1,100 SF and (4) 1bd/1ba at approx. 950 SF, each with a private balcony or patio. The property delivers a 6.20% cap rate today and a 7.54% cap rate at market. Recent capital improvements include a new roof (2023), plumbing upgrades, upgraded common areas, and new storage lockers. The building also has double pane vinyl windows throughout. Only one of the ten units has been renovated, so a buyer has a clear path to growing rents as units turn, with already strong in-place rents of $1,625 to $2,050 against market rents of $1,790 and $2,250 (assuming in-unit washer/dryers). Additional upside comes from charging for the 16 parking spaces and renting out all 9 storage lockers. Large units, a strong cap rate, and ample CapEx improvements all in an attractive and growing market make this a smart investment for anybody looking to expand their portfolio.

Location

State WA

County King

Area 710 - North Seattle

Interior

Flooring Laminate, Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Wood Products

View Y/N Yes

View Territorial

Roof Type Built-Up,Composition

Building

Lot Description Curbs, Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Buyer To Verify

Middle Schools Buyer To Verify

High Schools Buyer To Verify

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.youtube.com/watch?v=aboYEb7AI2I

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
Amenities & Attractions
Restaurants
Home Services
Health & Medical
Local Services
Shopping
Recreation
Arts & Entertainment
Food
Beauty
Nightlife
Event Planning & Services
Automotive
Religious Organizations
Financial Services
Professional Services
Travel
Education
Local Media
Pets
Public Services & Government

  • Man’oushe Express

    13721 Lake City Way NE, Seattle, WA 98125

    Middle Eastern Phone: 206-367-0895

  • BeanCity Coffee Co

    12547 Lake City Way NE, Seattle, WA 98125

    Breakfast & Brunch Phone: 206-650-5598

  • Toyoda Sushi

    12543 Lake City Way NE, Seattle, WA 98125

    Japanese Phone: 206-367-7972

  • Goodies Mediterranean Market

    13721 Lake City Way NE, Seattle, WA 98125

    Mediterranean Phone: 206-362-2694

  • Jack In The Box

    13055 Lake City Way NE, Seattle, WA 98125

    Burgers Phone: 206-364-3485

  • Kaffeeklatsch

    12513 Lake City Way NE, Seattle, WA 98125

    Coffee & Tea Phone: 206-462-1059

  • Taco Bell

    14506 Bothell Way NE, Seattle, WA 98155

    Fast Food Phone: 206-367-4248

  • El Norte Lounge

    13717 Lake City Way NE, Seattle, WA 98125

    Lounges Phone: 206-765-0361

  • Panda Express

    12513 Lake City Way NE, Seattle, WA 98125

    Chinese Phone: 206-367-0822

  • BeanCity Coffee

    12547 Lake City Way NE, Seattle, WA 98125

    Breakfast & Brunch Phone: 206-650-5598

  • Teriyaki Time

    3008 NE 127th St, Seattle, WA 98125

    Japanese Phone: 206-367-5003

  • Pizza Hut

    14346 15th Ave. N.E., Seattle, WA 98125

    Pizza Phone: 206-364-4400

  • Aloha Ramen

    3004 NE 127th St, Seattle, WA 98125

    Ramen Phone: 206-838-3837

  • Papa Murphy’s

    3000 NE 127th St, Seattle, WA 98125

    Pizza Phone: 206-306-7272

  • Cap’n Mike’s Holy Smoke

    Farmers Market, Seattle, WA 98125

    Seafood Markets

  • Elliott Bay Public House & Brewery

    12537 Lake City Way NE, Seattle, WA 98125

    American (Traditional) Phone: 206-365-2337

  • Caroline Tavern

    13702 15th Ave NE, Seattle, WA 98125

    Dive Bars Phone: 206-363-3300

Educational Environment

Elementary Schools (2)
Name
Category
Grades
Library
Ratio
6/10
Olympic Hills Elementary School
13018 20th Ave NE, Seattle, WA 98125
Public
PK - 5
No
STUDENTS/TEACHERS
0/10
Chelsea House Montessori Preschool/Kindergarden
13742 30th Ave NE, Seattle, WA 98125
Private
PK - TKG
No
5:1 STUDENTS/TEACHERS

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