3000 Spruce St Seattle, WA 98122 – Lago Apartments at Leschi

3000, Spruce St, Seattle, WA  98122

For Sale

Lago Apartments at Leschi (Status: Available) 1975000

3000, Spruce St, Seattle, WA  98122

The Lago Apartments is a prime investment opportunity in Seattle’s sought-after Leschi neighborhood. Built in 1963, this well-maintained property features six updated two-bedroom units, some with Lake Washington views, and significant exterior improvements, including refreshed landscaping, updated paint, and a new roof coating. With scheduled rent increases in 2025 and potential for further interior enhancements, Lago Apartments offers investors a value-add opportunity to align rents with market rates. Current cap rate of 5.42% and a 6.47% cap rate on August 1st, with scheduled rent increases in place. Located near Leschi Park and just 10 minutes from downtown Seattle, this property combines serene neighborhood charm with urban convenience.

Listing Details

Asset Class: Multi-Family
Year Built: 1963
Building Total Square Feet: 5850
Available Lease Space Square Feet: 5850
Number of Floors: 3
Total Parking Spaces: 0
Local Zoning Information: NR3

CBA

Listing Courtesy of: Northmarq Multifamily LLC

Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, LLC and should be verified by the tenant or buyer.

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