Raleigh Manor Apartments, located at 12000 15th Ave NE, Seattle, WA 98125, presents a compelling investment opportunity. This Class C, multifamily apartment building boasts 42 units within a single, four-story structure, totaling 45,579 square feet, with 28,785 net rentable square feet. Built in 2000 and effectively renovated in 2011, the property sits on a 14,400 square foot lot and includes 39 parking spaces. Currently operating at 100% occupancy, the building generates a Net Operating Income (NOI) of $632,990, resulting in a 4.00% cap rate. The asking price is $15,988,000, translating to $380,667 per unit and $350.78 per square foot. The property is zoned LR3RC(M) and benefits from its location in Seattle's Northgate neighborhood, close to Northgate Mall and the Northgate Light Rail Station, providing convenient access to shopping, dining, entertainment, and public transportation. The building features modern amenities and updated appliances, attracting a wide range of tenants. This investment offers a strong potential for future growth due to ongoing development in the Northgate area. The property is a net lease investment.
Highlights
12000 15th Ave NE, Seattle, WA 98125, Northgate neighborhood; near new Northgate Light Rail Station.
Multiple family units and three ground-floor retail stores provide diversified income.
High occupancy due to Seattle's strong rental market and desirable location.
Recently updated units with modern amenities, secure parking, on-site laundry, and pet-friendly options.
High foot traffic and visibility for ground-floor retail spaces.
Northgate's ongoing development projects promise future value appreciation.
Apartment building - Prime Seattle location, high occupancy.
Where is the apartment building located?
The property is located at 12000 15Th Ave Seattle, WA.
What is the asking price?
The asking price for this property is $15,988,000.
What are key features of this property?
This property features: 12000 15th Ave NE, Seattle, WA 98125, Northgate neighborhood; near new Northgate Light Rail Station.; Multiple family units and three ground-floor retail stores provide diversified income.; High occupancy due to Seattle's strong rental market and desirable location.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
Contacts
Mandy Wu
Visit Broker Website
Learn more
Useful Information
Request information
15Th Ave Seattle, WA 98125
Message sent successfully
Error
If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
15Th Ave Seattle, WA 98125
Message sent successfully
Error
Email this Information
Message sent successfully
Error
Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
12000 15Th Ave
Sign Up
Already a member?
Just one more step, let’s verify your email
We have sent a verification link to
Please check your inbox to complete the process.
Just click on the link in that email to complete your Sign up.
If you don’t see it, you may need to check your spam folder.
Email verification link expired
It seems that the verification link has expired.
No worries! We can send you a new link to email
Log In
Don't have an account?
Reset your password
New to Paperhouses?
Paperhouses
Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
Check your email
We've resent password reset instructions to if it is an email on file.
Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password.
If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.