Multifamily Property for Sale in Seattle, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Seattle, WA 98133

Description

The Greenwood North Apartments are located in a quiet, residential pocket North of Seattle's desirable Bitter Lake neighborhood. Being offered for the first time in over 50+ years, the Greenwood North presents a prime investment offering. Originally constructed in 1966, the Greenwood North has been carefully maintained and updated to ensure that it is a desirable community for tenants and a lowe-maintenance asset for ownership. Comprised of one Studio, three One bedrooms and twenty Two-bedrooms averaging 1,048 square feet. The property truly offers a range of living spaces that have strong historical occupancy. Greenwood North is located in one of Seattle's vibrant and community-oriented neighborhoods, with convenient access to the soon to be opened 130th St light rail station. Additionally, the Seattle Department of Transportation will begin remodeling the Greenwood Avenue planters, sidewalks and parking in 2026, further enhancing what the Greenwood North has to offer. Next door, Bitter Lake Park offers community enhancing amenities inclusive of lake access, community center, ball fields, courts, child care and the Interurban Trail and bike route, connecting Seattle to Everett. Investment Highlights: • First time on market in 50+ years: Pride of ownership asset that's exceptionally maintained • Oversized & spacious units: Average unit size is 1,048 square feet, all units have private balcony or patio • Ample off street parking: 1:1 parking ratio with excess street parking available • 38% of units have washer/dryer in unit: Opportunity to add washer/dryer to remaining 62% of units • Great Unit Mix: Spacious studio, one- and two-bedroom units, with 83% being 1,133 square foot 2 bedrooms.

Market Context

This multifamily in Seattle, WA is listed for sale. It is offered at an approximate 6.1% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Seattle, WA — <a href="/search/sale/multifamily/washington/seattle">view the full market</a>.

As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and cap rates around 5.5%. Source: Consensus Q1 2026 market report.

Its 6.1% asking cap rate is above the Seattle / Bellevue multifamily market average of about 5.5%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Seattle / Bellevue?
About 5.5% as of Q1 2026, per Consensus.
Is the Seattle / Bellevue multifamily market tightening or softening?
Vacancy is around 7.3% (Q1 2026).

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