Listed by John L. Scott, Inc
$2,100,000
PENDING

Estimated payment $12,631/month

Total Views 2,071
12 Beds
8 Baths
5,260 Sq Ft
$399 Price per Sq Ft

Highlights

  • No HOA
  • Vinyl Plank Flooring
  • Baseboard Heating
  • Viewlands Elementary School Rated A-

About This Home

The Fountain Apartments – a turnkey investment opportunity in the heart of Greenwood. This well-maintained 8-unit property features significant capital improvements, including a new roof (within the last 5 years), updated common areas, and full interior renovations in 6 of the 8 units. The renovated units boast spacious layouts with luxury vinyl plank flooring, quartz countertops, undermount sinks, stainless steel appliances, modern bathroom vanities, and new bathtub/tile surrounds. Select units also include private decks. With minimal remaining value-add needed—just two units left to update—The Fountain presents an excellent opportunity to stabilize the asset at a projected cap rate of over 6.5%.

Listing Agent

Jon Bye

John L. Scott, Inc License #25593 Listed on: 07/23/2025

John L. Scott, Inc

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2406370

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,309

Year Built

  • Built in 1988

Home Design

  • Composition Roof
  • Metal Construction or Metal Frame
  • Vinyl Construction Material

Interior Spaces

  • 5,260 Sq Ft Home
  • 3-Story Property
  • Vinyl Plank Flooring

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 8 Bathrooms

Parking

  • 8 Parking Spaces
  • 8 Covered Spaces

Schools

  • Viewlands Elementary School
  • Robert Eagle Staff Middle School
  • Ingraham High School

Additional Features

  • 6,325 Sq Ft Lot
  • Baseboard Heating

Community Details

  • No Home Owners Association
  • Greenwood Subdivision

Listing and Financial Details

  • Assessor Parcel Number 6749700020

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,309

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1988
  • MLS Status: Pending Feasibility
  • Prev Status: Pending
  • New Construction: No
  • CalculatedSquareFootage: 5260
  • Special Features: None

Interior Features

  • Total Bedrooms: 12
  • Fireplace: No
  • Flooring: Vinyl Plank
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry

Exterior Features

  • Roof: Composition
  • View: No
  • Waterfront: No
  • Construction Type: Metal/Vinyl
  • Exterior Features: Metal/Vinyl
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 8
  • Open Parking: No
  • Total Parking Spaces: 8
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • WaterSewerGarbage: 13806

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Seattle
  • High School: Ingraham High
  • Middle Or Junior School: Robert Eagle Staff Middle School

Lot Info

  • Parcel Number: 6749700020
  • Lot Size Acres: 0.1452
  • Lot Size Sq Ft: 6325
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • MLSLotSizeSource: Title
  • MLSSquareFootageSource: Title

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 10.85
  • LeasedItems: None
  • TotalMonthlyIncome: 16980

Multi Family

  • Gross Scheduled Income: 193572
  • Net Operating Income: 142083
  • Number Of Units Total: 8
  • Insurance Expense: 8000
  • Leasable Area: 5260
  • EnergySource: Electric
  • UnitsInBuildingTotal: 8
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2025
  • Tax Annual Amount: 17309

MLS Schools

  • Elementary School: Viewlands

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/10/2025 09/10/25 Pending -- -- --
07/23/2025 07/23/25 For Sale $2,100,000 -- $399 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2406370

Northwest Multiple Listing Service (NWMLS)