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Greenwood Apartments 13322 Greenwood Ave N 24 Unit Apartment Building $7,897,918 CAD ($329,080 CAD/Unit) 6.09% Cap Rate Seattle, WA 98133
Investment Highlights
- First time on market in 50+ years: Pride of ownership asset that’s exceptionally maintained
- Ample off street parking: 1:1 parking ratio with excess street parking available
- Great Unit Mix: Spacious studio, one- and two-bedroom units, with 83% being 1,133 square foot 2 bedrooms.
- Oversized & spacious units: Average unit size is 1,048 square feet, all units have private balcony or patio
- 38% of units have washer/dryer in unit: Opportunity to add washer/dryer to remaining 62% of units
Executive Summary
The Greenwood North Apartments are located in a quiet, residential pocket North of Seattle’s desirable Bitter Lake neighborhood. Being offered for the first time in over 50+ years, the Greenwood North presents a prime investment offering. Originally constructed in 1966, the Greenwood North has been carefully maintained and updated to ensure that it is a desirable community for tenants and a low-maintenance asset for ownership. Comprised of one Studio, three one bedrooms and twenty two-bedrooms averaging 1,048 SF. The property truly offers a range of living spaces that have strong historical occupancy. Greenwood North is located in one of Seattle’s vibrant and community-oriented neighborhoods, with convenient access to the soon to be opened 130th St light rail station. Additionally, the Seattle Department of Transportation will begin remodeling the Greenwood Avenue planters, sidewalks and parking in 2026, further enhancing what the Greenwood North has to offer. Next door, Bitter Lake Park offers community enhancing amenities inclusive of lake access, community center, ball fields, courts, child care, and the Interurban trail and bike route, connecting Seattle to Everett.
Property Facts
| Price | $7,897,918 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $329,080 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 6.09% | Building Size | 25,788 SF |
| No. Units | 24 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 0.89/1,000 SF |
| Zoning | LR3 (M) | ||
| Price | $7,897,918 CAD |
| Price Per Unit | $329,080 CAD |
| Sale Type | Investment |
| Cap Rate | 6.09% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 25,788 SF |
| No. Stories | 4 |
| Year Built | 1966 |
| Parking Ratio | 0.89/1,000 SF |
| Zoning | LR3 (M) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 400 |
| 1+1 | 3 | - | 700 |
| 2+1 | 20 | - | 1,133 |
Bike Score®
Very Bikeable (74)
Property Taxes
| Parcel Number | 083200-0005 | Improvements Assessment | $5,723,556 CAD |
| Land Assessment | $2,305,251 CAD | Total Assessment | $8,028,807 CAD |
Property Taxes
Parcel Number
083200-0005
Land Assessment
$2,305,251 CAD
Improvements Assessment
$5,723,556 CAD
Total Assessment
$8,028,807 CAD
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Greenwood Apartments | 13322 Greenwood Ave N
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