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Listed by: Grant Fosheim (425) 359-7259 | Opal Blue Real Estate, LLC (425) 510-6162
$2,250,000
Monthly Est:$11,199
16 Beds
10 Baths
12,566sqft
14333 32nd Avenue NE, Seattle, WA 98125
$2,250,000
$11,199/moEst:
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Multi Family
Built in 1973
$-- HOA
12,719 sqft lot
$179/sq.ft
Description
The Kensington, is 10-unit, three-story apartment building in Seattle's Lake City neighborhood, offered at approximately $214 per square foot. With a in place monthly income of nearly $19,000/mo. Unusually large units set it apart: (6) 2bd/1ba at approx. 1,100 SF and (4) 1bd/1ba at approx. 950 SF, each with a private balcony or patio. The property delivers a 6.20% cap rate today and a 7.54% cap rate at market. Recent capital improvements include a new roof (2023), plumbing upgrades, upgraded common areas, and new storage lockers. The building also has double pane vinyl windows throughout. Only one of the ten units has been renovated, so a buyer has a clear path to growing rents as units turn, with already strong in-place rents of $1,625 to $2,050 against market rents of $1,790 and $2,250 (assuming in-unit washer/dryers). Additional upside comes from charging for the 16 parking spaces and renting out all 9 storage lockers. Large units, a strong cap rate, and ample CapEx improvements all in an attractive and growing market make this a smart investment for anybody looking to expand their portfolio.
- Houzeo last checked: 11 minutes ago
- Listing updated: October 9, 2026 at 7:13 pm
- Source: Northwest Multiple Listing Service | MLS#: NWM2591168
Property Details
Status
Active
Type
Multi Family
No. of Stories
3
County
City
Neighborhood
Year Built
1973
HOA Fees
-
Finished Area
12,566 sqft
Lot Size
12,719 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2591168
MLS Status
Active
Days on Market
11
Cumulative Days on Market
10
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 16
Bathrooms: 10
Interior
Flooring
Laminate, Vinyl Plank, Carpet
Sewer
Sewer Connected
Exterior Features
Wood Products
Cooling
None
Heating
Baseboard
Construction
Year Built
Year Built: 1973
Home type
Multi Family
Property Condition
Good
Roof
Built Up, Composition
Foundation Details
Block
Construction Materials
Wood
Utilities & Energy
Water Source
Public
Other Features
Lot Features
Curbs, Paved, Sidewalk
Subdivision Name
Lake City
Price History
| Date | Event | Price |
|---|---|---|
10/09/2026 Source: | Listed for Sale | $2,250,000 -10.00% $179/sqft |
01/11/2019 Source: | Price Increased | $2,500,000 +226.80% $199/sqft |
01/07/2002 Source: | Sold | $765,000 $61/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 20, 2026, 02:32PM. 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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