USAWASeattleLake City14333 32Nd Ave Ne
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$2,250,000

For Sale

2 days ago

14333 32Nd Ave Ne, Seattle, WA

House

MLS® 2591168

0 Bed

0 Bath

--

16 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage 
Taxes $22,146
Days Active 2
Lot Size 0.292 Acres
Approx. Age 1973
MLS® Number 2591168

Property Address: 14333 32nd Ave Ne, Seattle, WA, 98125-3637

Average square foot calculated using Size range provided by listing agent.

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.
MLS® Number2591168
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1973
Basement
Driveway
Garage Spaces
HeatBaseboard
A/CNone

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Oct 9, 2026List Date
$2,250,000List Price
  • Commute

Commute

Starting Address
Destination Address
14333 32Nd Ave Ne, Seattle, WA

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