12607 NE 119th St - Apartments FOR SALE


Kirkland, WA 98034- North Rose Hill
$1,800,000 USD
206-658-7247
12607 NE 119th St, Kirkland, WA for Sale
$1,800,000 USD
Apartments - FOR SALE
1/13
null | 4.78% Cap Rate

12607 NE 119th St
Kirkland, WA 98034
North Rose Hill


HIGHLIGHTS

  • 8 large studio units with lofts
  • $256K/unit - priced well below replacement costs
  • Renovation value-add potential to increase NOI 30%
  • In-unit washer and dryer
  • Prime Eastside location - blocks from the Village at Totem Lake
  • 11 off-street parking spaces (8 reserved + 3 visitor spaces)

OVERVIEW

8 Unit multifamily property situated in the heart of Kirkland’s rapidly growing Totem Lake neighborhood. All large studio units, with lofted sleeping areas and in-unit washer and dryers. Offers a compelling value-add opportunity. With light renovations and strategic repositioning, investors have the potential to increase NOI by approximately 30%, capitalizing on the strong rental demand and premium achievable rents in this submarket. Its prime location and unique unit layouts provide a strong foundation for both immediate income and long-term appreciation.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$414 USD /SF

# OF UNITS

8

PRICE/UNIT

$225,000

CAP RATE

4.78%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kirkland 8

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,233 SF

ZONING

RM 1.8

APN/PARCEL ID

806310-0005

ASK ABOUT THIS PROPERTY

Ben DouglasParagon Real Estate AdvisorsMore Info
206-658-7247

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Ben DouglasParagon Real Estate AdvisorsMore Info
206-658-7247

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