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Under Contract
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Multifamily

Verse

Seattle, WA

98 Units

Built in 2004

Core

Investment Highlights

  • Value-Add Opportunity: All but five of the homes feature mostly original finishes offering an opportunity for a cosmetic renovation with potential for rent premiums of nearly $200 over in-place rents.
  • Future Light Rail Station & Walkability: Located within one mile of future Judkins Park Light Rail Station with service beginning in 2025. With a Walk Score of 93, considered a "Walker's Paradise."
  • Uniquely Large Floor Plans: Distinctive and spacious floor plans for an urban setting featuring studio, one- and two-bedroom homes, with sizes spanning from ±649 to ±1,068 square feet.
  • Prime Location to Employers: Provides convenient access to amenity and employment hubs such as the Seattle CBD, South Lake Union, Bellevue / The Eastside, and Renton, all within 15 minutes. Judkins Park Link Light Rail will provide transit options to downtown Seattle, the Eastside, and SEA International Airport.
  • Strong Retail Tenant Base: Long-term commercial tenants with a mix of strong national and local tenants. JP Morgan Chase recently renewed their original 20 year lease for an additional five years with two five-year options. Seattle Fish Guys opened in 2016 and has been a local favorite since their grand opening.

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