1220 N 137th St - Apartments FOR SALE


Seattle, WA 98133- Haller Lake
$1,450,000 USD
206-491-2008
1220 N 137th St, Seattle, WA for Sale
$1,450,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

1220 N 137th St
Seattle, WA 98133
Haller Lake


HIGHLIGHTS

  • Significant CapEx invested in recent years, including a roof replacement in 2024.
  • Additional upside can be realized by installing W/D in all units and converting the current laundry & storage room into a 1bd/1ba, 600 SF unit
  • Pivot point location with proximity to major employers
  • Strong submarket fundamentals with average effective rent growing 180-basis points year-over-year and occupancy rising to 95.9%

OVERVIEW

Discover a prime investment opportunity in North Seattle with Brighton Townhomes. This well-maintained property of five two-story townhome-style units offers immediate appeal with its strategic location. Just minutes from the Northgate Light Rail Station and the bustling downtown Seattle, residents benefit from convenience and urban amenities. Built in 1973 and renovated in 1995, Brighton Townhomes present a rare chance for value-add improvements, including interior upgrades to boost rental income. With one unit already partially renovated and achieving higher rents, the potential for a 15% rent premium awaits new ownership. Additionally, the property offers the ideal unit mix of four 2-bed/1.5-bath units and one 1-bed/1-bath unit, averaging 1,008 square feet each. Furthermore, the property boasts updated electrical systems, a recently replaced roof, and ample parking space. Seize this opportunity at Brighton Townhomes to enhance your investment portfolio with significant upside potential and a prime location in a thriving submarket of North Seattle.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$288 USD /SF

# OF UNITS

5

PRICE/UNIT

$290,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Brighton Townhomes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

LR2 (M)

APN/PARCEL ID

614970-0166

ASK ABOUT THIS PROPERTY

Chad BlenzBerkadiaMore Info
206-491-2008

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Chad BlenzBerkadiaMore Info
206-491-2008

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.