Lincoln Park 6 4700 SW Othello St 6 Unit Apartment Building $1,450,000 ($241,667/Unit) 4.99% Cap Rate Seattle, WA 98136

Paragon Real Estate Advisors is pleased to present Lincoln Park 6, a six-unit multifamily investment located in the highly coveted Lincoln Park/Fauntleroy neighborhood of West Seattle. Just one block from Lincoln Park and minutes to the California Ave SW retail corridor and Alki Beach, the property is ideally positioned to benefit from strong renter demand, exceptional walkability, and the enduring appeal of West Seattle’s premier coastal amenities. Opportunities to acquire apartments in this pocket are limited due to historically low turnover, making The Lincoln Park 6 a rare chance to secure a well-located asset in one of West Seattle’s desirable submarkets.
Originally built in 1910 and recently updated over the years, Lincoln Park 6 offers clear value-add potential through cosmetic interior upgrades, providing new ownership with the ability to significantly increase rents to align with market levels. The building contains 2 Studios, 3 One-Bed/One-Bath units, 1 Two-Bed/One-Bath unit. The interiors remain clean and well-maintained, offering a strong base for future modernization while preserving the property’s classic charm.
Common areas and building systems have been maintained over the years, and the site’s central Fauntleroy/Lincoln Park location offers tenants immediate access to parks, beaches, transit, and neighborhood amenities. With current rents below market for the area, thoughtful renovations present a straightforward path toward income growth and improved operational performance.
With its irreplaceable setting, long-term tenant appeal, and multiple avenues for revenue enhancement, The Park Apartments offers investors a rare opportunity to acquire a charming, well-maintained asset with strong upside.