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Listed by: Gabe Blake (206) 618-2207 , Josh Blake (206) 619-3719 | Blake Investment Advisors (206) 618-2207
$2,995,000
Monthly Est:$14,907
23 Beds
15 Baths
--sqft
11521 26th Avenue NE, Seattle, WA 98125
$2,995,000
$14,907/moEst:
Get Pre-Approved
Multi Family
Built in 1962
$-- HOA
19,600 sqft lot
--/sqft
Description
6.26% CURRENT CAP RATE | Capri Apartments is a meticulously maintained 15-unit, courtyard-style apartment community located in the bustling Lake City neighborhood of Northeast Seattle. Originally constructed in 1962, Capri features copper plumbing and has undergone significant capital improvements over the past decade, including a new PVC roof (2024), updated electrical breaker panels (2016), luxury vinyl plank flooring and stone countertops in all units, double-pane vinyl windows, and a renovated exterior staircase, positioning the asset as both a desirable community for residents and a low-maintenance investment for ownership. The property offers an ideal unit mix, comprised of nine 2-bedroom units averaging 783 square feet and five 1-bedroom units averaging 683 square feet. Residents benefit from a central courtyard setting with lush greenery, on-site communal laundry (two washers & two dryers), 14 large storage lockers, and 16 off-street parking stalls available on a first-come, first-served basis. A new investor can capitalize on Capri’s current operations, which generate a 6.26% cap rate on in-place income, or execute a value-add business plan by converting the common laundry room into a 16th studio apartment (buyer to verify) and installing ventless, all-in-one washer/dryer combo units in each apartment to capture a 7.25% cap rate post renovation.
- Houzeo last checked: 12 hours ago
- Listing updated: September 21, 2026 at 4:33 pm
- Source: Northwest Multiple Listing Service | MLS#: NWM2503489
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
Year Built
1962
HOA Fees
-
Finished Area
- sqft
Lot Size
19,600 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2503489
MLS Status
Active
Days on Market
157
Cumulative Days on Market
144
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 23
Bathrooms: 15
Interior
Flooring
Vinyl Plank
Exterior Features
Wood Products
Sewer
Sewer Connected
Heating
Baseboard
Cooling
None
Construction
Year Built
Year Built: 1962
Home type
Multi Family
Roof
Torch Down
Foundation Details
Slab
Construction Materials
Wood
Other Features
Subdivision Name
Lake City
Price History
| Date | Event | Price |
|---|---|---|
08/31/2026 Source: | Listed for Sale | $2,995,000 $0/sqft |
08/19/2026 Source: | Pending | $2,995,000 +74.64% $0/sqft |
04/14/2015 Source: | Price Increased | $1,715,000 +45.96% $0/sqft |
05/03/2010 Source: | Sold | $1,175,000 $0/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 01, 2026, 02:47PM. 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, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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