3000 E Spruce Street
Seattle, WA 98122
0.11 acres | #2320258
Description
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 paint, 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. 6.47% cap rate on August 1st, with scheduled rent increases already in place. Located near Leschi Park and just 10 minutes from downtown Seattle, this property combines serene neighborhood charm with urban convenience.
Property Details
- Date ListedJanuary 06, 2025
- Sewer InformationSewer Connected
- Style55 - 5-9 Units
- Property TypeMulti-Family
- Property SubtypeMulti-Family
- Structure TypeMulti Family
- Lot DescriptionCorner Lot
- Original List Price$1,975,000
- School DistrictSeattle
- Taxes Annual$19,073
- MLS #2320258
- Cost1975000
- MLS #2320258
- Acres0.1148
- SubdivisionLeschi
- ViewLake
- Exterior MaterialsWood
- Year Built1963
- CountyKing
- Stories3
- Days on Market (Cumulative)2
Legal
The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - WA and should be verified by the buyer.
Based on information submitted to the MLS GRID as of 2025-01-07 21:32:08. 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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Last Updated: . Source: NWMLS
Listing Courtesy
Listing Agent: Taylor Wyman (#NWM119131)
Listing Office: Northmarq Commercial, LLC (#NWM10040)
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