Log In/Sign Up
Your email has been sent.
13310 Greenwood Ave N
Seattle, WA 98133
Bittertree Condominums · Multifamily Property For Sale
·
8 Units
Investment Highlights
- Seller financing
- Seven-stall secured under-building parking garage featuring four tandem and three single stalls, plus one additional stall in front of the building
- In-unit washers and dryers in every unit, plus private balconies
- 5 of 8 units have been recently updated with luxury vinyl plank flooring and appliance refreshes
Executive Summary
Bittertree Condominiums is an eight-unit apartment building at 13310 Greenwood Ave N in Seattle’s Greenwood neighborhood. Built in 1996, the property features two large studios, two one-bedroom units, and four two-bedroom units. All units include in-unit washers and dryers, private balconies, and access to a secured garage with eight parking stalls. The building sits on a 6,787 SF LR3 (M) zoned lot on Greenwood Avenue. This is a stabilized asset with upside potential. Five units have been updated with luxury vinyl plank flooring and newer appliances. The remaining three are occupied by long-term tenants with below-market rents, offering an opportunity to increase income through natural turnover. With separate electric meters, water sub-metering, and modern construction, the property offers a low-maintenance, efficient operating profile. Seller financing is available with 30% down and a five-year interest-only term: 5.0% interest in years one and two, and 5.5% in years three through five. The investment delivers a 5.7% cap rate and 7.2% cash-on-cash return at acquisition, increasing to a 6.6% cap rate and 10.2% cash-on-cash return as rents reach market levels.
Property Facts
| Price Per Unit | $236,875 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.65% | Building Size | 5,640 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1996 |
| Property Subtype | Apartment | Parking Ratio | 1.18/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LR3 (M) | ||
| Price Per Unit | $236,875 |
| Sale Type | Investment |
| Cap Rate | 5.65% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 5,640 SF |
| No. Stories | 3 |
| Year Built | 1996 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | LR3 (M) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $1,300 | 530 |
| 1+1 | 2 | $1,560 | 650 |
| 2+1 | 4 | $1,858 | 820 |
Property Taxes
| Parcel Number | 083380-0010 | Improvements Assessment | $173,200 |
| Land Assessment | $86,000 | Total Assessment | $259,200 |
Property Taxes
Parcel Number
083380-0010
Land Assessment
$86,000
Improvements Assessment
$173,200
Total Assessment
$259,200
1 of 27
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
