Wallace Manor | 12748 Greenwood Ave N
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Wallace Manor 12748 Greenwood Ave N
18 Unit Apartment Building $3,800,000 ($211,111/Unit) 5.86% Cap Rate Seattle, WA 98133
Investment Highlights
- All units remodeled with new cabinets, hardware, quartz counter tops, vanities & tub surrounds
- 1:1 on-site parking ratio, large decks, storage lockers and elevator access
- Corner lot in desirable North Seattle neighborhood
- Immediate management upside through improving operations
- Easy access to Greenwood, Shoreline & Northgate
- Walking distance to Bitter Lake Playfield and public lake access
Executive Summary
CBRE proudly presents the Wallace Manor in Broadview. This 18-unit apartment community is prominently located on the corner of North 130th Street and Greenwood Ave North. Built in 1966, the property consists of twelve 1-bedroom and six 2-bedroom units, with an average unit size of 737 square feet. All units have been remodeled in recent years, featuring new wood cabinets with updated hardware, hard surface countertops, stainless steel appliances, updated vanities, and new tub surrounds. The building offers secure access entry for residents, on-site laundry, storage lockers, and a surface parking lot with 18 spaces.
Broadview is a commuter-friendly location with multiple transportation options. Greenwood Ave provides convenient access to several bus lines just outside the front door. Regardless of the direction they're headed, workers can reach their place of employment in a reasonable amount of time, whether they rely on cars or public transportation.
Bitter Lake Playfield, located approximately five blocks away, offers lake access, play fields, tennis courts, and pickle ball courts. Just half a mile east of the property, residents will find numerous retail options, dining establishments, and gyms. Northgate Station, providing light rail access, is approximately 2.5 miles away from the property. Additionally, Carkeek Beach Park is only a mile and a half away, offering residents the opportunity to enjoy the outdoors and scenic views.
Broadview is a commuter-friendly location with multiple transportation options. Greenwood Ave provides convenient access to several bus lines just outside the front door. Regardless of the direction they're headed, workers can reach their place of employment in a reasonable amount of time, whether they rely on cars or public transportation.
Bitter Lake Playfield, located approximately five blocks away, offers lake access, play fields, tennis courts, and pickle ball courts. Just half a mile east of the property, residents will find numerous retail options, dining establishments, and gyms. Northgate Station, providing light rail access, is approximately 2.5 miles away from the property. Additionally, Carkeek Beach Park is only a mile and a half away, offering residents the opportunity to enjoy the outdoors and scenic views.
Property Facts Under Contract
| Price | $3,800,000 | Apartment Style | Low Rise |
| Price Per Unit | $211,111 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 5.86% | Building Size | 18,269 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1966/1993 |
| Property Subtype | Apartment |
| Price | $3,800,000 |
| Price Per Unit | $211,111 |
| Sale Type | Investment |
| Cap Rate | 5.86% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 18,269 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1966/1993 |
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Elevator
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,359 | 680 |
| 2+2 | 6 | $1,585 | 850 |
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Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 291620-0005 | Improvements Assessment | $3,337,500 |
| Land Assessment | $1,321,500 | Total Assessment | $4,659,000 |
PROPERTY TAXES
Parcel Number
291620-0005
Land Assessment
$1,321,500
Improvements Assessment
$3,337,500
Total Assessment
$4,659,000
zoning
| Zoning Code | LR3 (M) |
| LR3 (M) |
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Wallace Manor | 12748 Greenwood Ave N
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