Active · Residential Income

8848 Stone Avenue N, Seattle, WA 98103

Seattle, WA 98103

$1,800,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Lee & Associates Commercial RE · MLS #2533806 · Active

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About this property

We are pleased to present 8848 Stone Ave N, a pride-of-ownership 10-unit apartment community in Seattle’s North Green Lake neighborhood. Built in 1988, the building offers a well-balanced unit mix of 2 studios, 4 one-bedrooms, and 4 two-bedrooms — spacious floor plans filled with natural light and equipped with in-unit laundry throughout. Durable building systems include copper plumbing, a Siemens electric panel, and a 2021 roof replacement, delivering a new owner a clean operational foundation with minimal deferred maintenance. A secured entry system and fully fenced rear parking lot with 10 assigned spaces complete a resident experience that is low-friction and well managed. In-place rents currently sit approximately 15% below market, presenting an immediate opportunity for a new owner to close that gap through disciplined lease management alone. For investors with a light renovation appetite, the one-bedroom and two-bedroom units present the most compelling upside — rehabbed rents on those unit types are projected to achieve premiums of 21% and 32% respectively above current in-place rents, a return profile that meaningfully repositions the asset’s income and long-term value.

Property details

Property type: Multi Family
Year built: 1988
Lot size: 6,150 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $19,251 (2026)
Parking spaces: 10
School district: Seattle

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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