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3000 E Spruce St
Seattle, WA 98122
Lago Apartments · Multifamily Property For Sale
·
6 Units
Investment Highlights
- Value-Add Potential: Immediate upside with scheduled rent increases and interior renovation opportunities.
- Attractive Returns: In-place cap rate of 5.42% with a projected 6.26% cap rate by August 2025.
- Unit Improvements: Updated flooring, paint, and millwork, with Unit #1 fully renovated.
- Prime Location: Tranquil Leschi neighborhood, 10 minutes from downtown Seattle.
- Well-Maintained: Exterior upgrades include roof coating, vinyl windows, and refreshed landscaping.
- Tenant Amenities: Five carports, four storage lockers, and on-site laundry.
Property Facts
| No. Units | 6 | Building Size | 5,850 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1963 |
| Building Class | C | Parking Ratio | 0.68/1,000 SF |
| Lot Size | 0.11 AC | ||
| Zoning | NR3 | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,850 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1963 |
| Parking Ratio | 0.68/1,000 SF |
| Zoning | NR3 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Views
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 975 |
Property Taxes
| Parcel Number | 936360-0120 | Improvements Assessment | $955,000 |
| Land Assessment | $745,000 | Total Assessment | $1,700,000 |
Property Taxes
Parcel Number
936360-0120
Land Assessment
$745,000
Improvements Assessment
$955,000
Total Assessment
$1,700,000
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