3000 E Spruce ST Pending Save Request In-Person Tour Request Virtual Tour
Seattle,WA 98122
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Subdivision Leschi
MLS Listing ID 2320258
Style 55 - 5-9 Units
Bedrooms 12
Year Built 1963
Annual Tax Amount $19,073
Lot Size 5,000 Sqft
Property Sub-Type Multi-Family
Property 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.
Location
State WA
County King
Area 390 - Central Seattle
Interior
Fireplace false
Exterior
Exterior Feature Wood
View Y/N Yes
View Lake
Roof Type Flat
Building
Lot Description Corner Lot
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out,Conventional
Listing Terms Cash Out,Conventional