11521 26th Avenue Ne, Seattle, WA 98125
Local realty services provided by:Better Homes and Gardens Real Estate Gary Mann Realty
Listed by: gabe blake, josh blake
Office: blake investment advisors206-618-2207
MLS#:2503489
Source:NWMLS
11521 26th Avenue Ne,Seattle, WA 98125
$2,995,000
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Pending
Price summary
- Price:$2,995,000
About this home
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....
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Home facts
- Year built:1962
- Subdivision & Development:Lake City
- Listing ID #:2503489
- Updated:November 09, 2026 at 09:13 AM
Rooms and interior
- Flooring:Vinyl Plank
Heating and cooling
- Heating:Baseboard
Structure and exterior
- Roof:Torch Down
- Year built:1962
- Lot area:0.45 Acres
- Construction Materials:Wood Products Exterior Finish
Utilities
- Sewer:Sewer Connected
Finances and disclosures
- Price:$2,995,000
- Tax amount:$32,031 (2025)
Parking
- Total parking spaces:16
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