Listed by Grant Fosheim of Opal Blue Real Estate,LLC
Turnkey 10-unit Marella Apartments in Seattle's Lake City neighborhood. All major capital projects are complete: fully re-sided with exterior paint, new roof and new windows (2023), new electrical panels (2025) and a new sewer line (2025-26), with updated common areas. Seven of ten units are renovated, leaving only three to turn. Professionally managed with zero vacancies and zero delinquencies, and all paperwork is in order: move-in reports, security deposits and last month's rent on file. Eight 1BD/1BA (approx. 675 sf) and two 2BD/1BA (approx. 850 sf) units, plus 14 off-street parking spaces. Built 1968, effective year built 1992 per tax records, on an 8,480 sf lot. Large walk-in closets next to each hot water tank make adding in-unit washers and dryers easy. Close to Lake City Way shops, services and transit, with Stride bus rapid transit coming in 2028. 5.76% cap rate on in-place rents, 6.85% at market.

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Property Details of 3055 NE 140th Street

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Listing data courtesy of NWMLS as provided by MLS Grid as of October 21, 2026 9:31 AM EDT . All data is obtained from various sources and has not been, and will not be, verified by broker or NWMLS. All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. Supplied Open House Information is subject to change without notice. Many homes contain recording devices, and buyers should be aware they may be recorded during a showing. Listing data shown with the three tree icon are provided courtesy of NWMLS. Some IDX listings have been excluded from this website. IDX information is provided exclusively for consumers’ personal non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.  The data is deemed reliable but is not guaranteed.

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