Active · Residential Income

13310 Greenwood Avenue N, Seattle, WA 98133

Seattle, WA 98133

$1,895,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Paragon Real Estate Advisors · MLS #2538004 · Active

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About this property

Bittertree Condominiums is an eight-unit apartment building at 13310 Greenwood Ave N in Seattle’s Greenwood neighborhood. Built in 1996, the property features two large studios, two one-bedroom units, and four two-bedroom units. All units include in-unit washers and dryers, private balconies, and access to a secured garage with seven parking stalls. The building sits on a 6,787 SF LR3 (M) zoned lot on Greenwood Avenue. This is a stabilized asset with upside potential. Five units have been updated with luxury vinyl plank flooring and newer appliances. The remaining three are occupied by long-term tenants with below-market rents, offering an opportunity to increase income through natural turnover. With separate electric meters, water sub-metering, and modern construction, the property offers a low-maintenance, efficient operating profile. Seller financing is available with 30% down and a five-year interest-only term: 5.0% interest in years one and two, and 5.5% in years three through five. The investment delivers a 5.7% cap rate and 7.2% cash-on-cash return at acquisition, increasing to a 6.6% cap rate and 10.2% cash-on-cash return as rents reach market levels.

Property details

Property type: Multi Family
Year built: 1996
Lot size: 6,787 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $19,436 (2026)
Parking spaces: 8
School district: Seattle

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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