5505 NE 65th ST new to site Save Request In-Person Tour Request Virtual Tour
Seattle,WA 98115
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,610 sqft
Price per Sqft $457
Subdivision Hawthorne Hills
MLS Listing ID 2448363
Style 55 - 5-9 Units
Bedrooms 8
Year Built 1956
Annual Tax Amount $13,362
Lot Size 6,000 Sqft
Property Sub-Type Multi Family
Property Description
Burkewood Apartments is an appealing 8-unit multifamily investment in Seattle's sought-after Hawthorne Hills neighborhood. This well-maintained property, built in 1956, boasts 8 moderately updated 1BD/1BA units on a 6,000 SF lot zoned NR3, offering future redevelopment potential. Burkewood provides strong value-add opportunities via rent increases—current averages of $1,409 per unit could rise to proforma market levels of $1,550, elevating NOI from $86,662 to $110,933 and cap rate from 5.29% to 6.72%. The prime location, near Magnuson Park, the Burke-Gilman Trail, University of Washington, Seattle Children's Hospital, and University Village, drives tenant appeal in a high-demand, supply-limited area with top schools and amenities.
Location
State WA
County King
Area 710 - North Seattle
Interior
Flooring Laminate,Vinyl Plank
Fireplace false
Exterior
Exterior Feature Brick,Wood
View Y/N No
Roof Type Flat,Torch Down
Building
Lot Description Alley,Paved,Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out,Conventional
Listing Terms Cash Out,Conventional