Santorini At The Park Apartments 4902 Aurora Ave N 31 Unit Apartment Building $1,200,000 ($38,710/Unit) 2.02% Cap Rate Seattle, WA 98103

This investment opportunity offers a 22.4% ownership interest in a stabilized 31-unit multifamily property located in the highly sought-after Wallingford neighborhood of Seattle. Priced at a 15% minority interest discount to pro-rata market value, this offering aligns with market standards for partial ownership acquisitions, providing investors an attractive entry point into one of Seattle’s most vibrant residential areas.
The property benefits from consistently high occupancy, with a reported 96.8% rate at year-end 2025, and demonstrates stable performance with an estimated three-year average NOI of $354,000. An anticipated mortgage refinance in 2028-2029 presents potential for substantial capital distribution, enhancing upside for new investors. Additionally, a new roof scheduled for installation in 2026 reduces near-term capital expenditure risk.
Located across from Woodland Park and minutes from Green Lake, the property enjoys excellent connectivity to Downtown Seattle, the University District, and major employment centers. The area is walkable and surrounded by a mix of retail, dining, and lifestyle amenities, strengthening long-term renter appeal and investment stability.