$2,995,000
 $16,078 est/mo Sourced by Back At You

11521 26th Avenue,Seattle, WA 98125

Seattle, WA 98125

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Description

6.26% CURRENT CAP RATE | Capri Apartments is a meticulously maintained 15-unit, courtyard-style apartment community located in the bustling Lake City neighborhood of Northeast Seattle. Originally constructed in 1962, Capri features copper plumbing and has undergone significant capital improvements over the past decade, including a new PVC roof (2024), updated electrical breaker panels (2016), luxury vinyl plank flooring and stone countertops in all units, double-pane vinyl windows, and a renovated exterior staircase, positioning the asset as both a desirable community for residents and a low-maintenance investment for ownership. The property offers an ideal unit mix, comprised of nine 2-bedroom units averaging 783 square feet and five 1-bedroom units averaging 683 square feet. Residents benefit from a central courtyard setting with lush greenery, on-site communal laundry (two washers & two dryers), 14 large storage lockers, and 16 off-street parking stalls available on a first-come, first-served basis. A new investor can capitalize on Capri's current operations, which generate a 6.26% cap rate on in-place income, or execute a value-add business plan by converting the common laundry room into a 16th studio apartment (buyer to verify) and installing ventless, all-in-one washer/dryer combo units in each apartment to capture a 7.25% cap rate post renovation.

Details

MLS #2503489
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1962
Days On Site142
Listing Provided ByBlake Investment Advisors | Gabe Blake

Features

SQ Feet10,870
Story(s)2
Units15
ZoningMulti-Family
Acreage0.45

Taxes

Property32031

Area Information

StateWA
CountyKing
CitySeattle
Zip Code98125
Area710 North Seattle
Community NameLake City
Listing VS Median (in Lake City)
Price:
$2,995,000
low | high
Med:
$523,250
100% of Average
sqft:
10,870
low | high
Med:
1,250
100% of Average
$ / sqft:
$276
low | high
Med:
$419
2.149057189333% of Average
On site:
142
low | high
Med:
31
100% 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
Listing VS Median (in Lake City)
Price:
$2,995,000
low | high
Med:
$523,250
100% of Average
sqft:
10,870
low | high
Med:
1,250
100% of Average
$ / sqft:
$276
low | high
Med:
$419
2.149057189333% of Average
On site:
142
low | high
Med:
31
100% of Average
Sourced by Back At You
Listing Updated: August 31, 2026 at 7:38:12 AM PDT