Kirkland 5
Condo-quality units in Kirkland's incredible Houghton neighborhood
Marketing description
Kirkland 5 presents a rare opportunity to own a fully renovated mixed-use asset in Kirkland’s desirable Houghton neighborhood just blocks from Downtown Kirkland and the Lake Washington waterfront. With modern construction (built in 1981) and updated building systems, the property combines lasting quality with a comprehensive condo-level interior remodel, which will appeal to both traditional and owner-occupant investors.
The residential component features spacious ±1,150 SF 2-bedroom / 1.5-bath open-concept townhome units, each designed for comfortable, modern living. Every unit has been transformed with all-new kitchens, bathrooms, appliances, flooring, and interior paint, delivering a true condo-quality experience. Large private decks showcase beautiful Lake Washington views, enhancing indoor-outdoor living. Residents benefit from 12x6 dedicated storage spaces, ample natural light, and thoughtfully designed layouts. Each residential lease was signed during the townhome’s first open house weekend prior to availability, underscoring strong market demand. The property also includes a 575-SF retail/ office space, quickly leased, providing valuable mixed-use income diversity.
Exterior improvements complement the interior upgrades, including all-new low-maintenance landscaping and exterior paint, along with a durable pitched composition roof, ensuring long-term operational efficiency and reduced maintenance. Parking is generous, with 12 on-site spaces available for residents and retail users.
The property’s two parcels, totaling a genererous 15,511 square feet, are zoned PR-5.0, potentially allowing for a variety of redevelopment options now or in the future.
Kirkland 5 offers exceptional connectivity and lifestyle advantages. The property boasts a “very walkable” walk score, placing it within easy walking distance of local shops, dining, and amenities, including a Metropolitan Market grocery store and a CVS drug store. It is steps from a bus stop serving King County Metro routes 245 and 255, approximately a 5-minute walk to route 986, and an ±11-minute walk to route 250, providing convenient regional transit access. Commuters enjoy quick access to Interstate 405 and Highway 520, offering seamless connections to Bellevue, Seattle, and surrounding employment centers.
Residents are also just a 7-minute walk from Everest Park, featuring pickleball courts, ball fields, walking trails, and a playground, adding significant recreational appeal to the location.
With its prime setting, modern upgrades, strong leasing performance, ample parking, and proximity to Downtown Kirkland and Lake Washington, Kirkland 5 represents a turnkey mixed-use investment in one of the Eastside’s most desirable neighborhoods.
Investment highlights
Incredible Houghton location – Blocks from Kirkland’s downtown & waterfront
Only 1 block to several restaurants, Metropolitan Market, CVS, cleaners, and services
Fantastic westerly views of Lake Washington and Olympic Mountains from each unit
Large, covered decks with new light-emitting architectural covers protecting from rain and providing solar shade
Condo-quality remodel throughout each spacious 1,150- SF residential unit
Four 2-bed / 1.5-bath open-concept townhome units plus 1 fully leased retail space
Residential leases all signed in first weekend of open house prior to availability
Fully enclosed synthetic-turf dog park and play area, additional synthetic-turf courtyards for outdoor use
Built for low/no landlord maintenance and involvement both outside and in
“Very Walkable” walk score of 71 – multiple bus routes, several restaurants, and a park are all within a 10-minute walk
Easy access to I-405 and Highway 520, Bellevue, and Seattle
Owner-occupant opportunity
Land Bank - 15,511-SF lot size with PR-5.0 zoning
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