5505 NE 65th Street, Seattle, WA 98115

Property Description

This listing courtesy of Chad Michael Martini, Westlake Associates, Inc.

Burkewood Apartments is an appealing 8-unit multifamily investment in Seattle’s sought-after Hawthorne Hills neighborhood. This well-maintained property, built in 1956, boasts 8 moderately updated 1BD/1BA units on a 6,000 SF lot zoned NR3, offering future redevelopment potential. Burkewood provides strong value-add opportunities via rent increases—current averages of $1,409 per unit could rise to proforma market levels of $1,550, elevating NOI from $86,662 to $110,933 and cap rate from 5.29% to 6.72%. The prime location, near Magnuson Park, the Burke-Gilman Trail, University of Washington, Seattle Children’s Hospital, and University Village, drives tenant appeal in a high-demand, supply-limited area with top schools and amenities.

Listing Status:

Active

Listing Office:

Westlake Associates, Inc. : 206-505-9400

Listing Agent:

Chad Michael Martini : 206-505-9400

MLS ID:

2448363

Interior

• Flooring: LaminateVinyl Plank
• A/C: None
• Heating: Wall Unit(s)
• Fireplace: Fireplaces: 0

Exterior

• General: BrickWood
• Parking: Parking spaces: 5

Construction

• Roofing: FlatTorch Down
• General: 55 - 5-9 Units

Location

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

Lot

• Zoning: 1125049136

Utilities

• Sewer: Sewer Connected

Financial

• Source: nwmls

This listing courtesy of Chad Michael Martini, Westlake Associates, Inc.