Casa Apartments 15455 10th Ave SW 12 Unit Apartment Building $2,900,000 ($241,667/Unit) 5.70% Cap Rate Burien, WA 98166

Paragon Real Estate is pleased to announce the exclusive listing of the Casa Apartments, a desirable 12-unit midcentury apartment complex in the very walkable, nicely located, Lake Burien neighborhood. There is a lot to like with this building. Residents enjoy walking literally a couple blocks to shopping, food and entertainment opportunities. Parking is plentiful, and can be expanded by re-striping. 11 of the 12 large units have been tastefully updated with new white shaker cabinets, quartz counters, stainless appliances including a microwave, LVP flooring at the entrances and kitchens with sculptured carpet throughout, washer/ dryers, and the list goes on. The units look very good.
The structure is in great condition with new HardiePlank siding on the south and west sides, new exterior paint, new sliding glass doors, a 2019 tear off TPO roof, a new 2018 stairwell / walkway system, and all new electric panels in 2018. The building has recently been completely re-plumbed with Pex and washer/dryer connections and individual water shutoffs have been installed for each unit - the latter of which allows a new owner to completely submeter all utilities to the residents. Every unit has a patio and ownership added demising fences in the backyard to increase privacy. The landscaping looks great and the whole building has a sharp appearance.
The location is great for commuters, as Seattle and the Eastside are conveniently accessible by car or public transportation. Highway 509 is just a mile and 4 stoplights away which gives quick access to all major local freeways. The Angle Lake light rail station is just 4.6 miles away, a 9-minute drive.
This opportunity presents a great chance to purchase a turnkey property in a desirable walkable neighborhood.