Bought with Cascade Properties & Invest.
$1,975,000
$1,975,000
For more information regarding the value of a property, please contact us for a free consultation.
12 Beds
6 Baths
5,000 Sqft Lot
SOLD DATE : 04/15/2025
Key Details
Sold Price $1,975,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Subdivision Leschi
MLS Listing ID 2320258
Sold Date 04/15/25
Style 55 - 5-9 Units
Bedrooms 12
Year Built 1963
Annual Tax Amount $19,073
Lot Size 5,000 Sqft
Property Sub-Type Multi Family
Property Description
The Lago Apartments is a prime investment opportunity in Seattle's sought-after Leschi neighborhood. Built in 1963, this well-maintained property features six updated two-bedroom units, some with Lake Washington views, and significant exterior improvements, including refreshed landscaping, updated paint, and a new roof coating. With scheduled rent increases in 2025 and potential for further interior enhancements, Lago Apartments offers investors a value-add opportunity to align rents with market rates. 6.47% cap rate on August 1st, with scheduled rent increases already in place. Located near Leschi Park and just 10 minutes from downtown Seattle, this property combines serene neighborhood charm with urban convenience.
Location
State WA
County King
Area 390 - Central Seattle
Interior
Fireplace false
Exterior
Exterior Feature Wood
View Y/N Yes
View Lake
Roof Type Flat
Building
Lot Description Corner Lot
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "