11023 Greenwood Ave N Seattle — Sale in Seattle, WA

  • Price: $2.5M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Seattle, WA 98133
  • Year built: 1977

Investment Figures

Cap rate
6.20%
Price per unit
$277,222 across 9 units

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

11023 Greenwood Ave N is a 9-unit apartment building offering 7,953 net rentable square feet across a 7,232 square foot LR3-zoned lot . Unit Mix : Six 2BR/1BA units and three 1BR/1BA units Average Unit Size : 884 SF Year Built : 1974 | Effective Year: 1995 Construction : Wood frame, 3 stories, marble creet siding, newer built-up asphalt roof Amenities : Common laundry, private storage lockers, secured entry, and ample parking (11 open stalls, 1 covered stall) Heating/Systems : Electric baseboard heating, PVC plumbing, individually metered for water/sewer Views : Approximately 20% of units enjoy territorial or westerly views With durable construction, well-maintained systems, and above-average unit sizes, the property offers residents quality living in a prime Seattle neighborhood while providing investors with strong fundamentals and value-add potential. Contact Brokers for viewing. Year Built: 1977 | Listing Type: FOR SALE

Market Context

This multifamily in Seattle, WA is listed for sale at $2,495,000. It is offered at an approximate 6.2% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1977. It has been on the market for 70 days. Compare it against other multifamily listings for sale in Seattle, WA — view the full market.

As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and cap rates around 5.5%. Source: multiple brokerage reports, Q1 2026.

Its 6.2% asking cap rate is above the Seattle / Bellevue multifamily market average of about 5.5%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Seattle / Bellevue?
About 5.5% as of Q1 2026, per multiple brokerage reports.
Is the Seattle / Bellevue multifamily market tightening or softening?
Vacancy is around 7.3% (Q1 2026).

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