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Susan Larson

susan.larson@exprealty.com +1(541) 520-9000

Listed by:Lee & Associates Commercial RE • Dea Sumantri

$ 1,800,000

Est. payment -/mo

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8848 Stone AVE N Seattle, WA 98103

12 Beds

10 Baths

6,150 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Licton Springs

MLS Listing ID 2533806

Style 56 - 10+ Units

Bedrooms 12

Year Built 1988

Annual Tax Amount $19,251

Lot Size 6,150 Sqft

Property Sub-Type Multi Family

Property Description

We are pleased to present 8848 Stone Ave N, a pride-of-ownership 10-unit apartment community in Seattle's North Green Lake neighborhood. Built in 1988, the building offers a well-balanced unit mix of 2 studios, 4 one-bedrooms, and 4 two-bedrooms — spacious floor plans filled with natural light and equipped with in-unit laundry throughout. Durable building systems include copper plumbing, a Siemens electric panel, and a 2021 roof replacement, delivering a new owner a clean operational foundation with minimal deferred maintenance. A secured entry system and fully fenced rear parking lot with 10 assigned spaces complete a resident experience that is low-friction and well managed. In-place rents currently sit approximately 15% below market, presenting an immediate opportunity for a new owner to close that gap through disciplined lease management alone. For investors with a light renovation appetite, the one-bedroom and two-bedroom units present the most compelling upside — rehabbed rents on those unit types are projected to achieve premiums of 21% and 32% respectively above current in-place rents, a return profile that meaningfully repositions the asset's income and long-term value.

Location

State WA

County King

Area 705 - Ballard/Greenlake

Interior

Flooring Vinyl, Carpet

Fireplace false

Exterior

Exterior Feature Metal/Vinyl

Amenities Available Deck, Fenced-Partially, High Speed Internet, Sprinkler System

View Y/N No

Roof Type Torch Down

Building

Lot Description Curbs, Paved, Sidewalk

Sewer Sewer Connected

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.lee-associates.com/northwest/properties/?propertyId=8848Stone&address=8848-Stone-Ave-N&officeId=2085

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

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Susan Larson

+1(541) 520-9000

susan.larson@exprealty.com

Susan Larson

8848 Stone AVE N Seattle, WA 98103

Key Details

Location

Interior

Exterior

Building

Schools

Others

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8848 Stone AVE N