MLS #2503489 / Listing provided by NWMLS .
$3,100,000
11521 26th Avenue NE
Seattle,
WA
98125
Year Built
Capri Apartments is a meticulously maintained 15-unit, courtyard-style apartment community located in the bustling Lake City neighborhood of Northeast Seattle. Originally constructed in 1962, Capri features copper plumbing and has undergone significant capital improvements over the past decade, including a new PVC roof (2024), updated electrical breaker panels (2016), luxury vinyl plank flooring and stone countertops in all units, double-pane vinyl windows, and a renovated exterior staircase, positioning the asset as both a desirable community for residents and a low-maintenance investment for ownership. The property offers an ideal unit mix, comprised of nine 2-bedroom units averaging 783 square feet and five 1-bedroom units averaging 683 square feet. Residents benefit from a central courtyard setting with lush greenery, on-site communal laundry (two washers & two dryers), 14 large storage lockers, and 16 off-street parking stalls available on a first-come, first-served basis. A new investor can capitalize on Capri’s current operations, which generate a 5.55% cap rate on in-place income, or execute a value-add business plan by converting the common laundry room into a 16th studio apartment (buyer to verify) and installing ventless, all-in-one washer/dryer combo units in each apartment to capture a 7.01% cap rate post renovation.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Garage Spaces: 0
- Parking Total: 16
- Total Uncovered Parking Spaces: 16
Structure
- Roof: Torch Down
- Exterior Features: Wood Products
- Foundation: Slab
Lot Details
- Acres: 0.45
- Foundation: Slab
Schools
- High School District: Seattle
Lot Details
- Acres: 0.45
- Foundation: Slab
Power
- Energy Source: Electric
Water, Sewer, and Garbage
- Sewer: Sewer Connected
- Water, Sewer, and Garbage: 25561
Sandy Jones - THE JONES TEAM
Broker | REALTOR®
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