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Listed by Westlake Associates, Inc.
$1,650,000
Est. payment /mo
8 Beds
8 Baths
3,610 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,610 sqft
Price per Sqft $457
Subdivision Hawthorne Hills
MLS Listing ID 2448363
Style 55 - 5-9 Units
Bedrooms 8
Year Built 1956
Annual Tax Amount $13,362
Lot Size 6,000 Sqft
Property Sub-Type Multi Family
Property Description
Burkewood Apartments is an appealing 8-unit multifamily investment in Seattle's sought-after Hawthorne Hills neighborhood. This well-maintained property, built in 1956, boasts 8 moderately updated 1BD/1BA units on a 6,000 SF lot zoned NR3, offering future redevelopment potential. Burkewood provides strong value-add opportunities via rent increases—current averages of $1,409 per unit could rise to proforma market levels of $1,550, elevating NOI from $86,662 to $110,933 and cap rate from 5.29% to 6.72%. The prime location, near Magnuson Park, the Burke-Gilman Trail, University of Washington, Seattle Children's Hospital, and University Village, drives tenant appeal in a high-demand, supply-limited area with top schools and amenities.
Location
State WA
County King
Area 710 - North Seattle
Interior
Flooring Laminate, Vinyl Plank
Fireplace false
Exterior
Exterior Feature Brick, Wood
View Y/N No
Roof Type Flat,Torch Down
Building
Lot Description Alley, Paved, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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