3000 E Spruce Street, Seattle, WA 98122 (MLS # 2320258)

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Listing provided courtesy of Northwest MLS; Northmarq Commercial, LLC

PRICE $1,975,000
BEDS 0
BATHS 0
HOME SIZE n/a
LOT SIZE 5,001 sqft
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The Lago Apartments is a prime investment opportunity in Seattle's sought-after Leschi neighborhood. Built in 1963, this well-maintained property features six updated two-bedroom units, some with Lake Washington views, and significant exterior improvements, including refreshed landscaping, updated paint, and a new roof coating. With scheduled rent increases in 2025 and potential for further interior enhancements, Lago Apartments offers investors a value-add opportunity to align rents with market rates. 6.47% cap rate on August 1st, with scheduled rent increases already in place. Located near Leschi Park and just 10 minutes from downtown Seattle, this property combines serene neighborhood charm with urban convenience.

DAYS ON MARKET 9 LAST UPDATED 1/6/2025
TRACT Leschi YEAR BUILT 1963
COMMUNITY Leschi COUNTY King
STATUS Active PROPERTY TYPE(S) Multi Family


ADDITIONAL DETAILS
AIR None
AREA 390 - Central Seattle
CONSTRUCTION Wood Siding
HEAT Baseboard, Electric, Forced Air
LOT 5001 sq ft
LOT DESCRIPTION Corner Lot
STORIES 3
STYLE 55 - 5-9 Units
SUBDIVISION Leschi
TAXES 19073
UTILITIES Sewer Connected
VIEW Yes
VIEW DESCRIPTION Lake

SATELLITE VIEW



 
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Properties with the Logo icon are courtesy of Northwest MLS.

Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 1/15/25 4:37 AM PST. 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.

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