13310 Greenwood Avenue N, Seattle, WA 98133

Property Description

Bittertree Condominiums is an eight-unit apartment building at 13310 Greenwood Ave N in Seattle’s Greenwood neighborhood. Built in 1996, the property features two large studios, two one-bedroom units, and four two-bedroom units. All units include in-unit washers and dryers, private balconies, and access to a secured garage with seven parking stalls. The building sits on a 6,787 SF LR3 (M) zoned lot on Greenwood Avenue. This is a stabilized asset with upside potential. Five units have been updated with luxury vinyl plank flooring and newer appliances. The remaining three are occupied by long-term tenants with below-market rents, offering an opportunity to increase income through natural turnover. With separate electric meters, water sub-metering, and modern construction, the property offers a low-maintenance, efficient operating profile. Seller financing is available with 30% down and a five-year interest-only term: 5.0% interest in years one and two, and 5.5% in years three through five. The investment delivers a 5.7% cap rate and 7.2% cash-on-cash return at acquisition, increasing to a 6.6% cap rate and 10.2% cash-on-cash return as rents reach market levels.

Listing Status:

Active

Data Last Updated:

June 14, 2026 at 2:21AM

Listing Office:

Paragon Real Estate Advisors : 206-623-8880

Listing Agent:

Michael Urquhart : 206-623-8880

MLS ID:

2538004

Interior

• Flooring: Laminate
• A/C: None
• Heating: Wall Furnace
• Fireplace: Fireplaces: 0

Exterior

• General: Wood Products
• Parking: Parking spaces: 8

Construction

• Roofing: Composition
• General: 55 - 5-9 UnitsPoured Concrete

Location

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

Lot

• Zoning: 0833800010

Utilities

• Water: Public
• Sewer: Available

Financial

• Source: nwmls