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About the Listing 6779 - 101283
The Kensington, is 10-unit, three-story apartment building in Seattle's Lake City neighborhood, offered at approximately $214 per square foot. With a in place monthly income of nearly $19,000/mo. Unusually large units set it apart: (6) 2bd/1ba at approx. 1,100 SF and (4) 1bd/1ba at approx. 950 SF, each with a private balcony or patio. The property delivers a 6.20% cap rate today and a 7.54% cap rate at market. Recent capital improvements include a new roof (2023), plumbing upgrades, upgraded common areas, and new storage lockers. The building also has double pane vinyl windows throughout. Only one of the ten units has been renovated, so a buyer has a clear path to growing rents as units turn, with already strong in-place rents of $1,625 to $2,050 against market rents of $1,790 and $2,250 (assuming in-unit washer/dryers). Additional upside comes from charging for the 16 parking spaces and renting out all 9 storage lockers. Large units, a strong cap rate, and ample CapEx improvements all in an attractive and growing market make this a smart investment for anybody looking to expand their portfolio.
Listing Highlights for 14333 32nd Ave NE
Status
Active
Days on Site
6
Property Type
Multi-Family
MLS ®
2591168
Year Built
1973
Total Square Footage
10,400
Lot/Acreage
0.29
Interior Details
- Bedrooms: 16
- Bathrooms: 10 Full
- Appliances:
- Air Cond:
- Heating: Baseboard
- Fireplaces: 0
- Floor: Laminate,Vinyl Plank,Carpet
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Curbs,Paved,Sidewalk,Zoning: Multi-Family
- Garage Capacity: N/A
- Parking Spaces: 16
- Zoning: Multi-Family
- Roof: Built-Up,Composition
- Others: Wood Products,Good
- Sewer: Sewer Connected
- Parking Features: Covered
Financial Details
- Tax Amount: $22,146
- Taxes w/Assessments: N/A
- Tax/Property ID: 7663700350
- Tax Year: 2026
Payment Calculator
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Listing Location
Questions About..
14333 32nd Ave NE Seattle, WA 98125
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