$2,250,000
 $12,078 est/mo Sourced by Back At You

14333 32nd Avenue,Seattle, WA 98125

Seattle, WA 98125

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Description

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.

Details

MLS #2591168
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1973
Days On Site12
Listing Provided ByOpal Blue Real Estate, LLC | Grant Fosheim

Features

SQ Feet12,566
Story(s)3
Units10
ZoningMulti-Family
Acreage0.29
Property ViewYes

Taxes

Property22146

Area Information

StateWA
CountyKing
CitySeattle
Zip Code98125
Area710 North Seattle
Community NameLake City
School DistrictBuyer To Verify
Elementary SchoolBuyer To Verify
High SchoolBuyer To Verify
Listing VS Median (in Lake City)
Price:
$2,250,000
low | high
Med:
$549,975
100% of Average
sqft:
12,566
low | high
Med:
1,681
100% of Average
$ / sqft:
$179
low | high
Med:
$330
34.208672268681% of Average
On site:
12
low | high
Med:
59.5
20.168067226891% of Average
Sourced by Back At You

Market Activity 98125

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Learn More About This Property

StateWA
CountyKing
CitySeattle
Zip Code98125
Area710 North Seattle
Community NameLake City
School DistrictBuyer To Verify
Elementary SchoolBuyer To Verify
High SchoolBuyer To Verify
Listing VS Median (in Lake City)
Price:
$2,250,000
low | high
Med:
$549,975
100% of Average
sqft:
12,566
low | high
Med:
1,681
100% of Average
$ / sqft:
$179
low | high
Med:
$330
34.208672268681% of Average
On site:
12
low | high
Med:
59.5
20.168067226891% of Average
Sourced by Back At You
Listing Updated: October 9, 2026 at 11:19:51 AM PDT