Provided by NWMLS, Listed by Northmarq Commercial, LLC
Active
3000 E Spruce Street
Seattle WA, 98122
$1,975,000
Active
Multi-family
Built in 1963
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.
2320258
MLSⓇ ID
January 6, 2025
Listed
January 7, 2025
Updated
Map
3000 E Spruce Street
Seattle WA, 98122
Interior Features
Total Stories
3
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Baseboard, Forced Air
Exterior/Building Features
Lot Size
0.11 Acres
Exterior Features
Wood
Lot Features
Corner Lot
Roof
Flat
Sewer
Sewer Connected
School Information
School District
Seattle
Other Property Details
Area Name
390 - Central Seattle
Taxes
$19,073
Tax Frequency
Annually
Garage
No
Parking Total
5
View
Yes
View Description
Lake
County
King
Pool
No
The IDX display presents information sourced from the Northwest Multiple Listing Service as of 1/9/2025. The data is intended for personal, non-commercial use and should not be used for any other purpose except to identify potential properties for purchase. While the MLS data displayed is generally deemed reliable, it is NOT guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. The property locations displayed on any map are merely best approximations and exact locations should be independently verified. Based on information submitted to the MLS GRID as of 1/9/2025 at 1:00 AM UTC . 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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Data last updated on 1/9/2025 at 1:00 AM UTC
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