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Listings/Cascade View
Cascade View
On the Market
Price: $5,000,000
Price/Unit: $250,000
Price/SF: $278
Cap Rate: 6.6% Market | 8.1% Updated
Tours: Thurs. 4/24: 1pm-3pm | Thurs 5/1: 1pm-3pm
Offers Date: To Be Announced
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Site Details
Unit Mix
Opportunity
Cascade View presents a compelling opportunity to acquire a well-maintained, 20-unit apartment community located in Seattle’s transforming Northgate neighborhood. On the market for the first time since its development in 1980, the property has been family-owned and operated for over four decades. Featuring large units, modern systems, and significant rent upside, Cascade View is ideally positioned for a value-add investor to capitalize on under-market rents and capitalize on the region’s ongoing growth and infrastructure investments. With strong connectivity, a revitalized neighborhood identity, and increasing demand for updated rental product, this asset offers the rare combination of immediate yield and long-term appreciation.
Location
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About the Area
Cascade View is nestled in the Morningside enclave of the Northgate neighborhood—a zone undergoing a dramatic transformation anchored by the $1 billion+ Northgate redevelopment project. This 41-acre mixed-use master plan includes 940 residential units, nearly 1 million square feet of office, and major entertainment anchors like the Kraken Community Iceplex. Residents benefit from exceptional transportation access with the nearby Northgate Light Rail Station, I-5, and SR-522 corridors, enabling quick connections to Downtown Seattle, the Eastside, and Sea-Tac Airport. The neighborhood’s walkability, community amenities, and proximity to outdoor recreation continue to draw renters seeking both urban convenience and neighborhood charm.
5 Minutes to Northgate Light Rail Station
Offering a 6-minute ride to UW, a 20-minute ride to Downtown Seattle and direct access to the expanding regional transit network.
Northgate Redevelopment
Home to the NHL’s Seattle Kraken training facility, a new Residence Inn, and future high-density retail, office, and residential space.
Proximity to Parks and Retail
Minutes from Lake City Way’s grocery and dining corridor, plus green spaces like Meadowbrook Park and Magnuson Park.
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