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Cascade View Apartments 10505 24th Ave NE 20 Unit Apartment Building $5,000,000 ($250,000/Unit) 6.60% Cap Rate Seattle, WA 98125
INVESTMENT HIGHLIGHTS
- Significant Rental Upside
- First Time on the Market
- Modern Systems
- Excellent NE Seattle Location
EXECUTIVE SUMMARY
Cascade View presents a compelling opportunity to acquire a well-maintained, 20-unit apartment community located in Seattle’s transforming Northgate neighborhood. On the market for the first time since its development in 1980, the property has been family-owned and operated for over four decades. Featuring large units, modern systems, and significant rent upside, Cascade View is ideally positioned for a value-add investor to capitalize on under-market rents and capitalize on the region’s ongoing growth and infrastructure investments. With strong connectivity, a revitalized neighborhood identity, and increasing demand for updated rental product, this asset offers the rare combination of immediate yield and long-term appreciation.
PROPERTY FACTS
| Price | $5,000,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.41 AC |
| Sale Type | Investment | Building Size | 18,000 SF |
| Cap Rate | 6.60% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 1.61/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | L3 | ||
| Price | $5,000,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 18,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1980 |
| Parking Ratio | 1.61/1,000 SF |
| Zoning | L3 |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Wheelchair Accessible (Rooms)
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PROPERTY TAXES
| Parcel Number | 890200-0060 | Improvements Assessment | $2,204,200 |
| Land Assessment | $1,696,800 | Total Assessment | $3,901,000 |
PROPERTY TAXES
Parcel Number
890200-0060
Land Assessment
$1,696,800
Improvements Assessment
$2,204,200
Total Assessment
$3,901,000
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