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Multifamily

Collins Junction

Lynnwood, WA

168 Units

Built in 1969

Value Add

Investment Highlights

  • Transit-Oriented Community: Approximately 400 feet from the Lynnwood Transit Center and future Link Light Rail station with Light Rail service beginning in 2024.
  • Value-Add Opportunity: Approximately 65% of units are primed for value-add cosmetic renovations. 58 units were previously renovated, proving possible renovation premiums of up to $300 per month.
  • Covered Land Play: Property re-zoned to CC (City Center) that allows for increased height limit and F.A.R. providing a landbank opportunity; potential redevelopment could allow up to ±870 units.
  • Excellent Physical Plant: Attractive curb appeal with classic colonial-style architecture featuring brick veneer and a large clock tower. Recently renovated clubhouse, leasing office, and fitness center.
  • Large Floor Plans & Balanced Unit Mix: One-, two-, and three-bedroom homes averaging ±932 square feet including 58 two-bedroom townhomes. Most homes have walk-in closets and select homes feature private balconies or patios and fireplaces.
  • Easy Access to Major Employment & Tech Hubs: Within 20 minutes of downtown Seattle, downtown Bellevue, and the Eastside Tech Corridor. 15 minutes to Bothell's life science employment hub. Easy access to Interstate 5 and Interstate 405.

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