11521 26th Avenue NE, Seattle, WA 98125

Property Description

Capri Apartments is a meticulously maintained 15-unit, courtyard-style apartment community located in the bustling Lake City neighborhood of Northeast Seattle. Originally constructed in 1962, Capri features copper plumbing and has undergone significant capital improvements over the past decade, including a new PVC roof (2024), updated electrical breaker panels (2016), luxury vinyl plank flooring and stone countertops in all units, double-pane vinyl windows, and a renovated exterior staircase, positioning the asset as both a desirable community for residents and a low-maintenance investment for ownership. The property offers an ideal unit mix, comprised of nine 2-bedroom units averaging 783 square feet and five 1-bedroom units averaging 683 square feet. Residents benefit from a central courtyard setting with lush greenery, on-site communal laundry (two washers & two dryers), 14 large storage lockers, and 16 off-street parking stalls available on a first-come, first-served basis. A new investor can capitalize on Capri’s current operations, which generate a 5.55% cap rate on in-place income, or execute a value-add business plan by converting the common laundry room into a 16th studio apartment (buyer to verify) and installing ventless, all-in-one washer/dryer combo units in each apartment to capture a 7.01% cap rate post renovation.

Listing Status:

Active

Data Last Updated:

May 2, 2026 at 4:21PM

Listing Office:

Blake Investment Advisors : 206-618-2207

Listing Agent:

Gabe Blake : 206-618-2207

MLS ID:

2503489

Interior

• Flooring: Vinyl Plank
• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0

Exterior

• General: Wood Products
• Parking: Parking spaces: 16

Construction

• Roofing: Torch Down
• General: 56 - 10+ UnitsSlab

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Seattle
• County: King

Lot

• Zoning: 3448001435

Utilities

• Sewer: Sewer Connected

Financial

• Source: nwmls