The Residences at 3295
Exclusive Multifamily Opportunity
3295 SW Avalon Way | Seattle, WA 98126
OPPORTUNITY
Berkadia Seattle is pleased to announce it has been retained as the exclusive listing broker for The Residences at 3295 in West Seattle, WA.
The Residences at 3295 is a boutique apartment community located in the heart of West Seattle, offering a mix of studio, one-, and two-bedroom homes. The property is further supported by in-place commercial income from an established oral surgery office, whose long-term tenancy adds stability and further diversifies the asset’s revenue stream. With a multi-year history at the property, the tenant provides an additional source of durable income.
West Seattle offers a distinctive neighborhood-oriented living experience, characterized by established residential streets, retail corridors, and sought-after lifestyle amenities including Alki Beach and the area’s waterfront. Residents benefit from access to Downtown Seattle via the West Seattle Bridge, as well as improving transit connectivity and bus service that continue to enhance mobility throughout the broader metro.
The submarket has consistently demonstrated strong housing demand, supported by a combination of limited developable land and a high quality of life. These dynamics have contributed to elevated home values and sustained renter demand relative to many competing Seattle neighborhoods, reinforcing West Seattle’s long-term appeal as a place to live and invest.
As Seattle builds on a wave of investment tied to the World Cup and broader urban improvements, well-located neighborhoods like West Seattle stand to capture meaningful spillover growth. The redevelopment of the city’s waterfront into a 20-acre public park underscores the scale of this transformation and highlights the broader momentum enhancing Seattle’s accessibility, livability, and long-term desirability.
- ADDRESS
- CITY, STATE, ZIP
- COUNTY
- PARCEL NUMBER(S)
- ZONING
- SITE SIZE/ACREAGE
- BUILT
- UNITS
- BUILDINGS
- STORIES
- RENTABLE SF
- AVERAGE UNIT SF
- AVERAGE MARKET RENT
- AVERAGE MARKET RENT/SF
- COMMERCIAL SPACE
- ANN. COMMERCIAL RENT/SF
INVESTMENT HIGHLIGHTS
HIGHLY DESIRABLE BOUTIQUE WEST SEATTLE ASSET: 60 apartment homes completed in 2012 in desirable location
VALUE-ADD POTENTIAL: $341 Average rent uplift associated with premium renovation scope versus in-place lease rates
EXCELLENT ACCESSIBILITY TO DOWNTOWN SEATTLE: Well-located off the West Seattle Bridge offering quick commutes to downtown Seattle
AFFLUENT DEMOGRAPHIC BASE: $188k+ Avg income in 3-mile radius
ESTABLISHED MEDICAL-USE TENANT:
Since 2019, in-place commercial income is supported by a long-term dental office tenant.
HIGH HOME VALUES: $1,000,000+ single-family market in West Seattle
LARGE DISCOUNT TO HOMEOWNERSHIP: $4,253 monthly discount living at The Residences at 3295 compared to the average mortgage payment within West Seattle
60
units
2012
Year Built
628
Avg. SF
ASSET
The Residences at 3295 is a 60-unit boutique apartment community located in West Seattle, offering a mix of studio, one-, and two-bedroom residences within a well-maintained 2012-vintage asset. The property features an efficient unit mix averaging 628 square feet and includes 101 garage parking spaces as well as 2,624 square feet of commercial space, creating a balanced mixed-use residential offering. Its newer-construction vintage, smaller scale, and urban infill design give the asset a more neighborhood-oriented residential feel than larger surrounding communities, while the unit layouts and overall physical composition position it well as a modern, approachable apartment product in a highly livable neighborhood.
VALUE-ADD OPPORTUNITY
Current ownership has implemented a premium renovation program in 20 units, centered on a kitchen-focused interior refresh. The scope included replacing dark cherry cabinetry with white cabinetry, updating interior paint, adding a backsplash, and updating faucets and cabinet pulls to a modern black finish, helping to bring the units more in line with current finish trends.
The completed work provides a clear framework for a new owner to refine and expand the strategy. Going forward, an investor may have the opportunity to push rents on these select renovated units, establish a proven premium for the upgraded finish package, and use that performance as a basis for rolling the program out to the remaining 40 units. This creates a disciplined, test-and-scale value-add strategy with the potential for incremental upside.
Berkadia Reno Pro Forma
Berkadia Reno Pro Forma

Current Renovated Unit
Contact Us
Investment Sales
GEORGE PALLIS
Senior Director
WA CRE #138339
206.801.3070
[email protected]
BEN JOHNSON
Managing Director
WA CRE #114515
206.801.3144
[email protected]
DAVID SORENSEN
Managing Director
WA CRE #26603
206.801.3102
[email protected]
PETER DUDUNAKIS
Associate Director
WA CRE #24008898
206.795.4169
[email protected]
Mortgage Bankers
ROBERT DOXSEE
Managing Director
425.777.0235
[email protected]
MICHAEL MANOLIDES
Senior Director
253.670.2143
[email protected]
CONNOR LEMLEY
Associate Director
206.455.1592
[email protected]
Bellevue Office:
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
425.230.2565
berkadia.com
berkadia.com/northwest
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2026 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.






