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855.375.4001
Listing Courtesy of: Taylor Wyman - Northmarq Commercial, Llc 918-494-2690 Provided by Northwest MLS
$1,975,000 affordable loan icon Calculate Payment

3000 E Spruce Street Seattle, WA 98122

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Multi-Family Residence
Beds
Baths
... Bed/Bath
Sq. Ft.
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Last updated on 1/23/2025 3:39 PM

Listing Details

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 p...aint, 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. Current cap rate of 5.42% and a 6.47% cap rate on August 1st, with scheduled rent increases in place. Located near Leschi Park and just 10 minutes from downtown Seattle, this property combines serene neighborhood charm with urban convenience. Continue reading
MLS#
2320258
Property Type
Multi-Family
Status
Year Built
1963
Lot Size
0.11
Sewer
Sewer Connected
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Listing Courtesy of: Taylor Wyman - Northmarq Commercial, Llc 918-494-2690 Provided by Northwest MLS
Andrea Conner, License # 26653, Xome Inc. License # 19003, [email protected], 844-400-XOME (9663), 1411 4th Avenue, Seattle, WA 98101


Based on information submitted to the MLS GRID as of 1/23/2025. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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This content last refreshed on 1/23/2025 3:39 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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