10730-10734 Stone Avenue N, Seattle, WA
Seattle, WA 98133
Stone Avenue Apartments is a well-located, well-maintained property with significantly below market rents. This value-add opportunity is located in the highly sought-after Northgate neighborhood of Northwest Seattle. Located just north of Green Lake, this neighborhood provides excellent access to Seattle's main arterial and major employers.
Built in 1978 and positioned across the street from a greenspace / wetland, Stone Avenue Apartments is comprised of 6 units - two one-bedroom apartments and four two-bedroom apartments. The all-corner units range in size from 500 to 820 square feet, feature decks and storage lockers, and offer in-unit washer / dryers and dishwashers. The property features modern systems, a pitched composition roof, new common area carpet, dual-pane vinyl windows, secured entry, and an attractive, recently painted exterior. There are six parking spaces available to tenants, of which four are covered.
Stone Avenue Apartments rents are approximately 25% below market value. With five of the six units having undergone recent renovation, simply increasing rents on those units will significantly increase income with few upgrades necessary