Investment Highlights
- Light Value-Add Opportunity: All units are well-positioned for light cosmetic upgrades to further enhance rental income. Additional enhancements to common areas and hallways offer further upside.
- Strong Economic Fundamentals: Located at the doorstep of Amazon, Meta, Google, and Allen Institute, and within South Lake Union's rapidly expanding life science hub. The Lake Union submarket has delivered over 2 million square feet of purpose-built lab space, with major tenants including the Allen Institute for Artificial Intelligence, Seattle Children's Research Institute, and the University of Washington.
- Attractive Unit Mix: Offering a collection of studio, one-, and two-bedroom homes averaging ±638 square feet. Well-appointed homes feature modern finishes, oversized windows, and electric fireplaces with west-facing units equipped with A/C ports.
- Discount to Replacement Cost: Offered at a significant discount to replacement cost. South Lake Union remains a high barrier-to-entry submarket due to limited land availability, extensive City of Seattle entitlement timelines, and rising construction costs.
- Prime Location & Ideal Walkability: Situated within walking distance of Seattle's largest employers, including Amazon's world headquarters, Google, Meta, and others. Walk Score of 98.
- Excellent Community Amenities: Rooftop terrace with sweeping views, resident lounge with gourmet kitchen, fitness center, package lockers, pet amenities, and underground parking garage.
Exclusively listed by
Related Research
More Listings from Philip E. Assouad
Aperture on Fifth
