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Multifamily

BluWater

Everett, WA

152 Units

Built in 1991

Value Add

Investment Highlights

  • Desirable Silver Lake Location: Situated on the shores of Silver Lake within walking distance of 35-acre Thornton Sullivan Park, retail, dining, recreational, and transportation amenities.
  • Resort-Like Amenities Package: Grand entrance clubhouse with custom finishes, indoor / outdoor pool and spa, state-of-the-art fitness center with water views, and more.
  • Excellent Physical Plant: Extensively renovated in 2008 with completely reprogrammed amenities that the property boasts today and an interior renovation on every home.
  • Value-Add Opportunity: Suggested cosmetic upgrades could allow for $200 to $300 rent increases over market rents.
  • Balanced unit mix with large homes averaging a spacious ±923 square feet featuring wood-burning fireplaces and private decks or patios for each home. Select homes have lake views and all top floor units have vaulted ceilings.
  • Easy Access to Major Employment Hubs: Within 20 minutes of downtown Seattle, downtown Bellevue, and the Eastside Tech Corridor. 7 minutes to Bothell's life science employment hub. Easy access to Interstate 5 and Interstate 405.

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