Greentree Apartments — Sale in Seattle, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Seattle, WA 98107

Investment Figures

Cap rate
5.20%

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

The Morse Multifamily Group of Marcus & Millichap is pleased to present Greentree Apartments, offered for sale for the first time since its original development. Greentree represents a rare opportunity to acquire a meticulously maintained, 37-unit mixed-use asset in the heart of Seattle's highly desirable Phinney Ridge neighborhood. Built in 1990 as condominiums, each unit boasts its own individual tax ID and offers investors an alternative exit strategy. This property features an exceptional unit mix of studios, one-bedrooms, and one-bedrooms with dens, including a coveted top-floor penthouse with a private rooftop deck showcasing unobstructed views of Green Lake. Community enhancing amenities are inclusive of 30 off-street garage parking spaces and in-unit washer/dryer hookups in all apartment homes. The ground-floor retail component is fully leased to two established, service-oriented tenants—BabyFace Spa and KAnder Salon—providing stable income with an average of 4.5 years of remaining lease term. Investment Highlights: • Built as condominiums with each individual tax parcels already established • Excellent mix of studio, one and one bedroom with dens, averaging 697 square feet. • Top floor penthouse unit with a private rooftop deck offering unobstructed views of Green Lake. • 30 Off street gated garage parking spaces. • Fully leased ground floor retail with an average of 4.5 years of remaining lease term.

Market Context

This multifamily in Seattle, WA is listed for sale. It is offered at an approximate 5.2% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 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 5.2% asking cap rate is below the Seattle / Bellevue multifamily market average of about 5.5%, reflecting premium pricing relative to 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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