Property Details
8320 Lake City Way NE
Seattle, WA 98115
$6,890,000
Pending Feasibility
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Property Overview
Vista Point Apartments, a well-maintained 30-unit multifamily property located in Seattle’s desirable Roosevelt neighborhood. Built in 1990, the property features 19 two-bedroom, two-bath units (~844 SF) and 11 one-bedroom, one-bath units (~599 SF), all with in-unit washer and dryers. The building offers secure access entry, gated parking with 37 on-site spaces, copper plumbing throughout, a new roof installed in 2023, and a brand new elevator completed in 2024. Current rents reach up to $1,500 for one-bedroom units and $2,000 for two-bedroom units, with a current cap rate of approximately 5.33% and significant upside through a renovation projected to achieve ~$1,995 and ~$2,600 respectively, resulting in a projected Renovated Cap Rate of approximately 9.30%. Additional income potential includes $60/month parking and utility bill-back (W/S/G), making this a compelling value-add opportunity with strong in-place fundamentals and long-term upside.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Feasibility
County
King
Neighborhood
Roosevelt
Listed
Apr 15, 2026
Financial Summary
Cap Rate
5.33%
Net Operating Income
$367,001
Gross Scheduled Income
$596,244
Gross Rent Multiplier
11.56
Total Expenses
$217,318
Vacancy Rate
2.0%
Building & Use
Building Sq Ft
25,427
Leasable Area
22,625 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
14,749 sqft
Year Built
1990
Exterior & Lot
Lot Size
0.34 sqft
Year Built
1990
Garage
37 spaces
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot
Exterior Features
Wood Products
Location
City
Seattle
County
King
Coordinates
47.68995, -122.30825
Additional Information
Tax Year
2026
Annual Taxes
$70,743
Possession
Array
Based on information submitted to the MLS GRID as of April 28, 2026 5:15 PM. 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.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
