14520 Phinney Ave N
Shoreline WA 98133
Highland Terrace
14520 Phinney Ave N Shoreline WA 98133
Listing #: 709411 | Status: Available | Last Modified: 4/15/2026 |
For Sale
- Phone:(206) 300-8909
- Email:david@westlakeassociates.com
- Office Name:Westlake Associates, Inc.
- Office Phone:(206) 505-9400
- Office Website:
- Agent Phone:(206) 321-3226
- Agent Email:chad@westlakeassociates.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 3,500,000.0
- $/SF$ 287.8
- $/Unit$ 3,500,000.0
- Listing StatusAvailable
- Days on Market58
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income342,923
- Vacancy Factor %5.07%
- Operating Expenses117,743
- Net Operating Income207,804
- CAP Rate 6.43 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 6.43 %
- Building StatusExisting
- # of Buildings1
- # of Floors2
- # of Units15
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF12910
- Net Rentable Area12162
- Total Office SF
- Largest Contiguous SF
- Lot SF17493
- Acres0.4
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building Class
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street145th St NE
- Market AreaN. Seattle
- Tax ID #1826049228
- Additional Parcels
- ZoningR-48
- # Covered Spaces0
- # Uncovered Spaces18
- Total Parking Spots18
- Parking Ratio
- Year Built1963
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Shoreline 15-Unit For Sale
Conveniently located just North of Seattle City limits, the Highland Terrace Apartments offers a new investor a great value add opportunity with the flexibility of raising below market rents without the hassles and constraints of Seattle Landlord/Tenant laws. The value add here is to renovate all units with modern finishes, raise rents to market and implement a RUBS program to start billing back tenants for utilities. Ample carport and open parking. Updated electrical panels and newer TPO Roof. Potential to add in-unit washer and dryers. Upper units feature private decks. Individual hot water tanks for each unit. New secured tenant mailbox unit. Larger owner storage closet onsite.
15 Units located in growing area near Central Market of Aurora Square
