$2,800,000
Est. $15,387/mo6550 Greeenwood Avenue N, Seattle, WA 98103
• Listed Oct 21, 2026•2 days active · 2 cumulative
Listing Broker: Blake Investment Advisors; Gabe Blake; 206-618-2207; gabe@blakeia.com
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Listing Broker: Blake Investment Advisors; Gabe Blake; 206-618-2207; gabe@blakeia.com
About this home
Come tour! $233K per Unit in "A" Location! | The Phinney Apartments is a 12-unit value-add apartment investment opportunity that will be delivered 75% vacant at closing, providing a rare opportunity for a new investor to sidestep many of Seattle’s stringent landlord-tenant regulations and immediately begin renovations on day one. The property is located in the heart of highly desirable Phinney Ridge, just steps from popular neighborhood restaurants and establishments including Red Mill Burgers, El Chupacabra, ThaiKu, Ridgewood Bottle & Tap, GH Pasta & Pizza, and convenient Metro bus service. Supported by a comprehensive renovation budget found in the marketing brochure, a new investor has the potential to achieve a 22.21% leveraged IRR upon sale at the end of Year 3. The unit mix consists of nine one-bedroom units averaging 585 square feet, two two-bedroom units averaging 750 square feet, and one three-bedroom, one-bathroom unit with an additional office, totaling approximately 860 square feet. Each apartment features original 1960's finishes with real hardwood floors underneath the carpeted living spaces. Units 12 & 6 feature in-unit fireplaces. Property amenities include an on-site common laundry room, 12 covered carport parking stalls, and 12 individual storage lockers. The property also features a dedicated maintenance room currently being utilized for owner storage, along with an approximately 400-square-foot bonus room. Come tour!
Listed by Gabe Blake • Blake Investment Advisors
Listing updated: October 22, 2026 at 04:58pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2596693
Around this home
How much should you offer?
6550 Greeenwood Avenue N, Seattle, WA 98103
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Layout
- 10+ Units
Flooring
- Hardwood
Heating & cooling
- Baseboard heating
- None cooling
Schools
Ratings via SchoolDigger- West Woodland Elementary SchoolPublic · Grades K-5 · 0.6 mi · State rank 8 of 1,13810/10
- Robert Eagle Staff Middle SchoolPublic · Grades 6-8 · 1.4 mi · State rank 23 of 51410/10
- Ballard High SchoolPublic · Grades 9-12 · 0.9 mi · State rank 43 of 3968/10
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 12
- Units in building
- 12
- Units below grade
- false
Income & expenses
- Gross scheduled income
- $359,280
- Total monthly income
- $33,010
- Gross adjusted income
- $341,316
- Net operating income
- $264,660
- Cap rate
- 9.45%
- Gross rent multiplier
- 7.79
- Vacancy rate
- 17,964%
- Total expenses
- $113,497
- Insurance
- $6,313
- Other expenses
- $46,908
- Water / sewer / garbage paid by
- 22134
Parking & storage
- Parking spaces
- 12
- Covered spaces
- 12
Taxes & assessment
- Annual taxes
- $38,142
- Tax year
- 2027
- Financing
- Conventional
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
Opens with the report above.
Sales & Tax Records for 6550 Greeenwood Avenue N
NWMLS via MLS Grid · King County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Oct 21, 2026ListedNWMLS via MLS Grid · #2596693$2,800,000
Mortgage payment forecast
$19,266 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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Listing Broker: Blake Investment Advisors; Gabe Blake; 206-618-2207; gabe@blakeia.com
Market pulse
Seattle is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 57 days.
Recent sales nearby
Within 1 mile · last 6 months$1,212,500 Sold
2 days ago
4 bd•2 ba•~1,920 sq ft•Single Family
336 N 83rd Street, Seattle, WA 98103
5%
Over list
26
Days on market
0.8 mi
Distance
$1,060,000 Sold
3 days ago
4 bd•1.75 ba•~2,170 sq ft•Single Family
507 N 81st Street, Seattle, WA 98103
9%
Over list
17
Days on market
0.7 mi
Distance
$1,200,000 Sold
1 week ago
4 bd•2 ba•~1,480 sq ft•Single Family
5128 Palatine Avenue N, Seattle, WA 98103
4%
Over list
33
Days on market
0.7 mi
Distance
$1,726,000 Sold
2 weeks ago
3 bd•2.5 ba•~1,870 sq ft•Single Family
560 N 76th Street, Seattle, WA 98103
19%
Over list
19
Days on market
0.5 mi
Distance
$895,000 Sold
3 weeks ago
4 bd•1.75 ba•~1,840 sq ft•Single Family
711 N 86th Street, Seattle, WA 98103
4%
Under list
14
Days on market
1.0 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 23, 2026 at 3:28 AM PT (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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