MLS #2533806 / Listing provided by NWMLS & Lee & Associates Commercial RE.
$1,800,000
8848 Stone Avenue N
Seattle,
WA
98103
Year Built
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.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Garage Spaces: 0
- Parking Total: 10
- Total Uncovered Parking Spaces: 0
Structure
- Roof: Torch Down
- Exterior Features: Metal/Vinyl
- Foundation: Poured Concrete
Lot Details
- Lot Features: Curbs, Paved, Sidewalk
- Acres: 0.1412
- Foundation: Poured Concrete
Schools
- High School District: Seattle
Lot Details
- Lot Features: Curbs, Paved, Sidewalk
- Acres: 0.1412
- Foundation: Poured Concrete
Power
- Energy Source: Electric
- Power Company: Seattle City Light
Water, Sewer, and Garbage
- Sewer Company: Seattle Public Utilities
- Sewer: Sewer Connected
- Water Company: Seattle Public Utilities
- Water, Sewer, and Garbage: 18845
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