Listed by Grant Fosheim, Opal Blue Real Estate, LLC
- 8,711
- Square feet
- $247
- Per sq ft
- Multi Family
- Type
- 1968
- Year built
- 8,480 sq ft
- Lot
- 0
- Days on market
About this property
Turnkey 10-unit Marella Apartments in Seattle’s Lake City neighborhood. All major capital projects are complete: fully re-sided with exterior paint, new roof and new windows (2023), new electrical panels (2025) and a new sewer line (2025-26), with updated common areas. Seven of ten units are renovated, leaving only three to turn. Professionally managed with zero vacancies and zero delinquencies, and all paperwork is in order: move-in reports, security deposits and last month’s rent on file. Eight 1BD/1BA (approx. 675 sf) and two 2BD/1BA (approx. 850 sf) units, plus 14 off-street parking spaces. Built 1968, effective year built 1992 per tax records, on an 8,480 sf lot. Large walk-in closets next to each hot water tank make adding in-unit washers and dryers easy. Close to Lake City Way shops, services and transit, with Stride bus rapid transit coming in 2028. 5.76% cap rate on in-place rents, 6.85% at market.
Location & commute
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Property details
Listing details
- Listing number
- #2596136
- Listed
- October 20, 2026
- Days on market
- 0
- Price per sq ft
- $247
Unit & building
- Stories in building
- 3
- Units in building
- 10
Parking
- Covered spaces
- 7
- Total spaces
- 14
Views
- View
- Territorial
Construction
- Year built
- 1968
- Style
- 56 - 10+ Units
- Structure
- Multi Family
- Roof
- Flat
Heating & cooling
- Heating
- Baseboard
- Cooling
- None
- Energy source
- Electric
Flooring
- Flooring
- LaminateVinyl PlankCarpet
Lot
- Lot features
- Corner LotPavedSidewalk
- Lot size
- 8,480 sq ft
Terms
- Terms offered
- CashConventional
Utilities
- Water
- City of Seattle
- Sewer
- City of Seattle
- Power
- Seattle City Light
Schools
- District
- Seattle
- Elementary
- Buyer To Verify
- Middle
- Buyer To Verify
- High
- Buyer To Verify
What stands out to you?
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- Territorial
- Multi Family
- Flat
- Baseboard
- None
- Electric
- Laminate
- Vinyl Plank
- Carpet
- Corner Lot
- Paved
- Sidewalk
Listing history
Listed
$2,150,000
October 20, 2026
Derived from current MLS listing fields. Full multi-cycle status history is on the roadmap.
Payment estimate
An estimate to help you plan, not a loan offer or financial advice.
Est. monthly
$12,520
- Principal & interest
- $10,872
- Property tax (est.)
- $1,648
Assumes $430,000 down (20%), a $1,720,000 loan at 6.5% over 30 years. Property tax is an estimated figure, not MLS data (verify with the county assessor). Excludes insurance, PMI, and closing costs. Not a commitment to lend or financial advice.
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Based on information submitted to the MLS GRID as of October 20, 2026 at 4:45 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.