Listing provided courtesy of COMPASSNWMLSas Distributed by MLSGrid- MLS# NWM2507446
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Request Info8320 Lake City Way NESeattle, WA 98115
Multi-Family · 3 Beds · 25,427 Sq. ft. | 0.34 Acres$6,890,000
Pending
8320 Lake City Way NE Overview
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Vista Point Apartments, a well-maintained 30-unit multifamily property located in Seattle’s desirable Roosevelt neighborhood. Built in 1990, the property features 19 two-bedroom, two-bath units (~844 SF) and 11 one-bedroom, one-bath units (~599 SF), all with in-unit washer and dryers. The building offers secure access entry, gated parking with 37 on-site spaces, copper plumbing throughout, a new roof installed in 2023, and a brand new elevator completed in 2024. Current rents reach up to $1,500 for one-bedroom units and $2,000 for two-bedroom units, with a current cap rate of approximately 5.33% and significant upside through a renovation projected to achieve ~$1,995 and ~$2,600 respectively, resulting in a projected Renovated Cap Rate of approximately 9.30%. Additional income potential includes $60/month parking and utility bill-back (W/S/G), making this a compelling value-add opportunity with strong in-place fundamentals and long-term upside.
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8320 Lake City Way NE Facts & Features
- Type Multi-Family
- Sq. ft. 25,427
- Price/Sq.ft. $271
- Lot 0.34 Acres
Details
General
Association/HOA
- Association Fee: $0.00
School Information
- School District: Roosevelt
- Elementary School: Buyer To Verify
- Middle Or Junior School: Buyer To Verify
- High School: Buyer To Verify
Income/Expenses
- Other Expense: 86553
- Electric Expense: 0
- Fuel Expense: 0
- Gross Scheduled Income: 596244
- Insurance Expense: 30293
- Net Operating Income: 367001
- Total Expenses: 217318
- Total Monthly Income: 49687
- Water/Sewer/Garbage: 29729
Building Information
- New Construction: No
- Year Built: 1990
Location/Region
- Country: US
- County Or Parish: King
- MLS Area Major: 710 - North Seattle
- Subdivision Name: Roosevelt
Community/Development
- Amenities: Elevator,Fire Sprinklers,See Remarks
Tax Information
- Tax Annual Amount: $70,743.00
- Tax Year: 2026
General Information
- Listing Terms: Cash, Conventional
- Parcel Number: 0425049013
- Possible Use: Multi-Family
- Property Condition: Very Good
- Property Sub Type: Multi Family
- Property Type: Residential Income
- Senior Community: No
- Special Listing Conditions: None
Interior
Parking Information
- Garage Spaces: 37
Beds/Baths
- Bedrooms Possible: 49
- Bedrooms Upper: 0
Building Interior
- Building Area Total: 25427
- Building Area Units: Square Feet
- Calculated Square Footage: 25427
- Square Footage Finished: 0
- Square Footage Unfinished: 0
General Information
- Cooling: No
- Fireplace: No
- Fireplaces Total: 0
- Flooring: Vinyl Plank, Carpet
- Foundation Details: See Remarks
- Heating: Yes
- Leasable Area: 22625
- Living Area: 0
- Main Level Bathrooms: 0
- Power Production Type: Electric
- Security Features: Security Gate
- Stories Total: 4
Exterior
Parking Information
- Open Parking: No
- Parking Total: 0
- Parking Uncovered Total: 0
Lot Information
- Irrigation Water Rights: No
- Lot Features: Corner Lot
- Lot Size Acres: 0.3386
- Lot Size Dimensions: 14,748
- Lot Size Square Feet: 14748
- Lot Size Units: Square Feet
- Site Features: Deck, Gated Entry, Patio, Sprinkler System
- Elevation Units: Feet
- Water Source: Public
Waterfront/View
- Waterfront: No
Building Exterior/Construction
- Roof: See Remarks
- Structure Type: Multi Family
General Information
- Carport Spaces: 0
- Carport: No
- Covered Spaces: 0
- Exterior Features: Wood Products
- Number Of Units Total: 2
- Sewer: Sewer Connected
Unit Information
Unit 2 Details
- Actual Rent: 1418
- Beds Total: 1
- Baths Total: 1
Unit 1 Details
- Actual Rent: 1774
- Beds Total: 2
- Baths Total: 2
8320 Lake City Way NE Neighborhood
Community
98115 (Seattle) Demographics
37
Median Age
6,532
Population Density (per sq. mile)
81%
College Educated
$117,038
Estimated Median Income
14,136
Estimated Total Home Owners
9,294
Estimated Total Renters
60% / 40%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.8320 Lake City Way NE Monthly Cost
8320 Lake City Way NE Market Data
Based on the last 30 days in this zip code
$1,077,399
Average List Price
$586
Average Price per Square Foot
68
Properties Sold
46
Average Days on Market
216
Properties for Sale