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.

©2025 Northwest Multiple Listing Service all rights reserved.

Data last updated on 1/9/2025 at 1:00 AM UTC 

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