Sandpoint Way Apartments — Sale in Seattle, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Seattle, WA 98125

Photos

Sandpoint Way Apartments — Sale in Seattle, WA, photo 1 of 8
Sandpoint Way Apartments — Sale in Seattle, WA, photo 2 of 8
Sandpoint Way Apartments — Sale in Seattle, WA, photo 3 of 8
Sandpoint Way Apartments — Sale in Seattle, WA, photo 4 of 8
Sandpoint Way Apartments — Sale in Seattle, WA, photo 5 of 8
Sandpoint Way Apartments — Sale in Seattle, WA, photo 6 of 8
Sandpoint Way Apartments — Sale in Seattle, WA, photo 7 of 8
Sandpoint Way Apartments — Sale in Seattle, WA, photo 8 of 8

Investment Figures

Cap rate
5.80%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Sandpoint Way Apartments, a well-maintained multifamily community located at 12340 Sandpoint Way NE in Seattle, Washington. The property features a diverse mix of one-, two-, and three-bedroom apartment homes averaging approximately 821 square feet, providing broad appeal to professionals, families, students, and healthcare workers. The larger average unit sizes compare favorably to many newer apartment developments and contribute to strong tenant retention and leasing performance. A defining feature of the community is the premium Lake Washington view enjoyed by many residents, supporting rental premiums and enhancing leasing velocity. Moreover, the property’s rare location within the Sandpoint neighborhood is approximately one-half mile from the Burke-Gilman Trail and less than two miles from Matthews Beach Park—Seattle’s largest freshwater swimming beach. Ownership has completed several significant capital improvements, substantially reducing near-term capital expenditure requirements. Improvements include a roof replacement completed within the last six years, Cutler-Hammer electrical panels, and primarily copper plumbing throughout the property, providing investors with confidence in the property's physical condition and operational stability. Sandpoint Way Apartments is strategically located near several of Seattle’s largest employment and institutional drivers, including the University of Washington, Seattle Children’s Hospital, and the rapidly growing Magnuson Park corridor. These demand generators create a consistent pool of renters seeking housing within close proximity to employment, education, healthcare, and recreational opportunities. The combination of premium views, recent capital improvements, and strong Northeast Seattle fundamentals positions Sandpoint Way Apartments as a compelling multifamily investment opportunity in one of the Pacific Northwest’s most desirable residential markets. Investment Highlight

Market Context

This multifamily in Seattle, WA is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Seattle, WA — view the full market.

As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and average asking rents near $2004.00/unit/mo. Source: multiple brokerage reports, Q1 2026.

Multifamily market FAQ

Is the Seattle / Bellevue multifamily market tightening or softening?
Vacancy is around 7.3% (Q1 2026).

Contact

Explore this market

Similar Multifamily Property for Sale in Seattle, WA