Property Details

10505 24th Ave NE

Seattle, WA 98125

$4,400,000

Available

CBA# 714642 courtesy of CBA Listing firm: Kidder Mathews

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Commercial

Property Type

18,000

Bldg Sq Ft

Units

5.00%

Cap Rate

1980

Year Built

Property Overview

$600,000 PRICE IMPROVEMENT — Cascade View is now offered at $4,400,000, presenting investors with a rare opportunity to acquire a 20-unit value-add apartment community in Seattle’s Northgate/Morningside neighborhood. First time on the market, this legacy asset has been family-developed, owned, and managed since 1980 and features large average unit sizes of approximately 900 SF.Cascade View offers a desirable mix of spacious one-, two-, and three-bedroom units with in-unit washer/dryers, dishwashers, disposals, copper plumbing, modern GE electrical panels, aluminum double-pane windows, and a new TPO roof completed in 2022. The property also includes 17 covered garage stalls, approximately 12 open parking stalls, secure access, storage rooms, and select vaulted-ceiling units.With in-place rents approximately 32% below market and the ability to increase rental income by approximately 64% through renovations, Cascade View offers a clear path to upside. Located just minutes from Northgate Station, the Link Light Rail, Lake City Way, I-5, and the ongoing Northgate redevelopment, the property provides strong long-term fundamentals in one of Seattle’s most connected and evolving neighborhoods.