Bitter Lake Homes with 55 - 5-9 Units Style

Welcome to Bitter Lake, a hidden gem nestled in the heart of Seattle, Washington. This charming neighborhood offers a perfect blend of suburban tranquility and urban accessibility, making it an ideal place for individuals and families alike. With its scenic lakeside views, lush green spaces, and friendly community vibe, Bitter Lake invites you to experience the best of Pacific Northwest living.

Bitter Lake is characterized by its diverse array of homes, particularly those in the 55-59 unit style. These residences provide a unique opportunity for buyers looking for a sense of community without sacrificing space or comfort. The architecture reflects a harmonious blend of modern design and classic aesthetics, ensuring that each home has its own distinct charm. Residents here enjoy spacious layouts, contemporary finishes, and the convenience of nearby amenities.

The neighborhood is well-connected, with easy access to major highways and public transportation, making commuting to downtown Seattle a breeze. For outdoor enthusiasts, Bitter Lake Park offers a picturesque setting for leisurely strolls, picnics, or simply soaking in the natural beauty of the area. Additionally, the nearby Bitter Lake Community Center provides a hub for recreational activities and community events, fostering a strong sense of belonging among residents.

Shopping, dining, and entertainment options abound, with local favorites just a stone's throw away. From cozy cafes to vibrant eateries, there's something for everyone. Discover the charm of Bitter Lake, where community spirit meets modern living, and find your perfect home in this delightful Seattle 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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