3000 E Spruce Street
Seattle, WA 98122
- – beds
- – baths
- – sqft
- 5,000 sqft lot
- 1963 build
The Lago Apartments is a prime investment opportunity in Seattle's sought-after Leschi neighborhood. Built in 1963, this well-maintained property features six updated two-bedroom units, some with Lake Washington views, and significant exterior improvements, including refreshed landscaping, updated paint, and a new roof coating. With scheduled rent increases in 2025 and potential for further interior enhancements, Lago Apartments offers investors a value-add opportunity to align rents with market rates. 6.47% cap rate on August 1st, with scheduled rent increases already in place. Located near Leschi Park and just 10 minutes from downtown Seattle, this property combines serene neighborhood charm with urban convenience.
Last checked:
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Last updated Jan 7, 2025
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MLS# 2320258 —
The Building
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Year Built:1963
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New Construction:false
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Structure Type:Multi Family
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Exterior Features:Wood
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Roof:Flat
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Units In Building Total:6
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# of Units Total:6
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Stories Total:3
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Building Area Units:Square Feet
Interior
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Fireplace:false
Financial & Terms
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Possession:Closing
Location
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Latitude:47.603355
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Longitude:-122.293397
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Directions:Heading South on I-5, take exit 165A towards James St, head East onto Yesler Way, head North onto 31st Ave, turn West onto E Spruce St. Destination with be on the right.
The Property
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Property Type:Residential Income
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Property Subtype:Multi-Family
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Parcel Number:9363600120
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Lot Features:Corner Lot
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Lot Size Units:Square Feet
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Lot Size Acres:0.1148
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Lot Size SqFt:5000
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Lot Size Source:County
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Zoning Jurisdiction:City
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View:Lake
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View:true
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Waterfront:false
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Irrigation Water Rights:false
Listing Agent
- Contact info:
- Agent phone:
- (425) 530-8576
- Office phone:
- (425) 530-8576
Taxes
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Tax Year:2025
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Tax Annual Amount:19073
The Listing
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Special Listing Conditions:None
Heating & Cooling
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Cooling:false
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Heating:true
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Cooling:None
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Heating:Baseboard, Forced Air
Utilities
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Sewer:Sewer Connected
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Water Sewer Garbage:10157
Schools
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High School District:Seattle
The Community
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Subdivision Name:Leschi
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Senior Community:false
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Association:false
Parking
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Parking Total:5
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Open Parking:false
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Carport Spaces:5
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Carport:false
Listing courtesy of NWMLS / Northmarq Commercial, LLC
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/6/25
Jan 6, 2025
|
Listed / Active | NWMLS | $1,975,000 | |
|
8/5/24
Aug 5, 2024
|
Relisted | NWMLS | ||
|
7/19/24
Jul 19, 2024
|
Pending | NWMLS |
