Bitter Lake Homes with 55 - 5-9 Units Style

Welcome to Bitter Lake, a hidden gem nestled in the heart of North Seattle, Washington. This vibrant neighborhood is known for its serene lakeside views, lush green parks, and a warm, welcoming community atmosphere. Bitter Lake boasts a unique blend of urban convenience and natural beauty, making it an ideal spot for families, young professionals, and retirees alike.

One of the standout features of Bitter Lake is its diverse range of homes, particularly the charming 5-9 unit style residences that grace the area. These homes offer the perfect balance of comfort and community, providing residents with a cozy living environment while fostering a sense of belonging. Whether you’re looking for a stylish townhouse or a quaint apartment, the 5-9 unit homes in Bitter Lake are designed to meet a variety of lifestyles and preferences.

Living in Bitter Lake means having access to an array of amenities. Enjoy leisurely strolls around Bitter Lake Park, where you can take in the scenic views, picnic with friends, or engage in outdoor activities. The neighborhood is also conveniently located near shopping centers, cafes, and restaurants, ensuring that all your daily needs are just a stone's throw away.

Additionally, Bitter Lake’s proximity to major transportation routes makes commuting a breeze, allowing you to easily explore all that Seattle has to offer. With its rich community spirit, beautiful surroundings, and charming homes, Bitter Lake truly represents the best of Seattle living. Come discover your next home in this delightful neighborhood!

Newest Bitter Lake Homes with 55 - 5-9 Units Style

$1,895,000

2538004 MLS ⋅ ACTIVE Status

Bittertree Condominiums is an eight-unit apartment building at 13310 Greenwood Ave N in Seattle’s Greenwood neighborhood. Built in 1996, the property features two large studios, two one-bedroom units, and four two-bedroom units. All units include in-unit washers and dryers, private balconies, and access to a secured garage with seven parking stalls. The building sits on a 6,787 SF LR3 (M) zoned lot on Greenwood Avenue. This is a stabilized asset with upside potential. Five units have been updated with luxury vinyl plank flooring and newer appliances. The remaining three are occupied by long-term tenants with below-market rents, offering an opportunity to increase income through natural turnover. With separate electric meters, water sub-metering, and modern construction, the property offers a low-maintenance, efficient operating profile. Seller financing is available with 30% down and a five-year interest-only term: 5.0% interest in years one and two, and 5.5% in years three through five. The investment delivers a 5.7% cap rate and 7.2% cash-on-cash return at acquisition, increasing to a 6.6% cap rate and 10.2% cash-on-cash return as rents reach market levels.

13310 Greenwood Avenue N, Seattle

Listing courtesy of Paragon Real Estate Advisors.

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