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Cedar Rim

Newcastle, WA

104 Units

Built in 1981

Core Plus

Investment Highlights

  • Trophy Asset: irreplaceable location with sweeping water views. Nestled in the hills overlooking Lake Washington and surrounded by majestic Cedar trees.
  • Excellent Eastside Location: Minutes to downtown Bellevue, Southport, Mercer Island, and Renton. Five minutes from the 57-acre Gene Coulon waterfront park.
  • High Barrier-to-Entry, Affluent Submarket: Surrounding Newcastle home values of $1.2M+ according to Average household income of $183,943 within one mile.
  • Minutes to Major Employment Centers: Bellevue, Kirkland, Redmond, Southport, and downtown Seattle all within 5 - 20 minutes.
  • Large Floor Plans: All spacious two-bedroom floor plans with 1,050 square feet. Majority of the homes are two-bedroom, two-bathroom.
  • Light Value-Add Opportunity: Ability to capitalize on rental upside through cosmetic upgrades and common area improvements.

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