We are pleased to present 8848 Stone Ave N, a pride-of-ownership 10-unit apartment community in Seattle’s North Green Lake neighborhood. Built in 1988, the building offers a well-balanced unit mix of 2 studios, 4 one-bedrooms, and 4 two-bedrooms spacious floor plans filled with natural light and equipped with in-unit laundry throughout. Durable building systems include copper plumbing, a Siemens electric panel, and a 2021 roof replacement, delivering a new owner a clean operational foundation with minimal deferred maintenance. A secured entry system and fully fenced rear parking lot with 10 assigned spaces complete a resident experience that is low-friction and well managed. In-place rents currently sit approximately 15% below market, presenting an immediate opportunity for a new owner to close that gap through disciplined lease management alone. For investors with a light renovation appetite, the one-bedroom and two-bedroom units present the most compelling upside rehabbed rents on those unit types are projected to achieve premiums of 21% and 32% respectively above current in-place rents, a return profile that meaningfully repositions the asset’s income and long-term value.
| MLS # | 2533806 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1988 |
| Days On Site | 100 |
| Listing Provided By | Lee & Associates Commercial RE | Dea Sumantri |
| SQ Feet | 6,770 |
|---|---|
| Car Port | Yes |
| Story(s) | 3 |
| Units | 10 |
| Zoning | Multi-Family |
| Acreage | 0.14 |
| Property | 19251 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98103 |
| Area | 705 Ballard | Greenlake |
| Community Name | Licton Springs |
| Listing VS Median (in Licton Springs) | |
Price: $1,800,000 low | high Med: $734,975 sqft: 6,770 low | high Med: 1,150 $ / sqft: $266 low | high Med: $642 On site: 100 low | high Med: 15 | |
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98103 |
| Area | 705 Ballard | Greenlake |
| Community Name | Licton Springs |
| Listing VS Median (in Licton Springs) | |
Price: $1,800,000 low | high Med: $734,975 sqft: 6,770 low | high Med: 1,150 $ / sqft: $266 low | high Med: $642 On site: 100 low | high Med: 15 | |
![]() | $1,400,0008830 Nesbit AvenueSeattle, WA 98103 |