Windchime Apartments
712 N 143rd St, Seattle, WA 98133
Property Type Multi-family
Price $2,285,000
Status Active
Property Highlights:
- Well-located asset in Bitter Lake, one of North Seattle’s fastest-improving rental corridors.
- Significant rental upside, with average in-place rents of $1,256 for one-bedrooms and $1,617 for two-bedrooms against estimated market rents of $1,575 and $1,875.
- Value-add potential through selective unit upgrades on turnover.
- Recent capital improvements include a new TPO membrane roof (2023), upgraded electrical panels (2024) and replaced window panes (2025).
- Opportunity to implement a utility bill-back (RUBS) program to further lift NOI.
- Transit-rich location served by Sound Transit’s new Shoreline South/148th light rail station, with quick access to I-5 and downtown Seattle.
- Desirable mix of eleven one-bedroom and three two-bedroom units in good physical condition.
- Eleven on-site parking stalls currently provided at no charge, offering an additional income stream through paid parking.
- Unit 303 was fully renovated in September 2026 and leased at $1,595 per month plus $100 in billbacks, and Unit B-1, refreshed with new paint on turnover, leased at $1,525, validating the property's value-add upside.
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