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Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Beau Krueger
Associate Director
beau.krueger@berkadia.com
Michael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com
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Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
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Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
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Historically High Occupancy & Immediate Rental Upside
Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
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.
© 2025 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.
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
contact
Phone: 206.521.7220
Fax: 206.521.7222
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Recent Upgrades
Each unit has recently undergone partial renovations during tenant turnover, featuring new stainless-steel appliances, luxury vinyl plank flooring in living areas and bathrooms, shaker-style cabinets, and modern lighting and fixtures.
Proven Rental Upside
Highest achieving rents are commanding up to $154 in monthly rent premiums over current average rents. With minimal operational changes, new ownership can focus on aligning all rents to market rates while further implementing RUBS utility recovery to increase operating income by 10% in the short term.
Historically High Occupancy
Burien attracts residents relocating from more expensive areas of Metro Seattle. Over the past five years, the property has consistently outperformed Seattle’s occupancy rates by an average of 470 basis points.
Diverse Unit Mix
Features a desirable blend of one- and two-bedroom units of varying sizes, appealing to a wide range of renters.
Ample Parking
The property has 30 parking spaces and 84 carports, providing residents with abundant parking and creating an opportunity for ownership to earn additional income.
Pivot-Point Location
Located just east of downtown Burien, the property is well-positioned for long-term stability and growth due to its proximity and easy access to major employment hubs in the Seattle MSA, including Kent Valley, Seattle, and Bellevue.
Employer Arterial
Strategically located near Seattle-Tacoma International Airport (SEA) with excellent transportation infrastructure, Burien is home to nearly 1,600 businesses that employ over 14,400 residents, along with an additional 23,000 workers at SEA.
Minimal Deferred Maintenance
Ownership has invested over $200,000 in capital expenditures over the past year, covering projects such as exterior painting, landscaping, parking lot resurfacing, plumbing upgrades, fire systems, and leasing office remodeling. Additionally, all roofs have been replaced within the last ten years.
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66-Unit Prime Investment Opportunity with Immediate Rental Upside in Seattle’s Most Affordable Submarket
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Artur Otto
Associate Director
artur.otto@berkadia.com
Michael Manolides
Associate Director
253.670.2143
michael.manolides@berkadia.com
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
artur Otto
Associate Director
artur.otto@berkadia.com
Beau krueger
Associate Director
beau.krueger@berkadia.com
Chad Blenz
Senior Director
206.491.3826
chad.blenz@berkadia.com
brandon lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
INVESTMENT ADVISORS
MORTGAGE BANKING
Our team
Back to Top
View Listings
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 loan brokerage business in Nevada.
© 2023 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 the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
contact
Phone: 206.521.7220
Fax: 206.521.7222
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
Patrick harmon
Associate Director
patrick.harmon@berkadia.com
Patrick harmon
Associate Director
patrick.harmon@berkadia.com
Cierra Commons is an exceptional investment opportunity located on an expansive two acres in Burien, just minutes from the Seattle-Tacoma International Airport. This 66-unit complex, spread across five three-story buildings, boasts historically high occupancy rates and ample parking with 114 spaces. With attractive pricing at $210,000 per unit and $275 per square foot, Cierra Commons is valued at $14 million, presenting new ownership with immediate upside in Seattle’s most affordable submarket.
Cierra Commons has recently undergone partial renovations, offering an opportunity for immediate rental upside by aligning existing rents with the highest market rates, as outlined in the property valuation. During tenant turnover, each unit received some variation of upgrades, including new stainless-steel appliances, luxury vinyl plank flooring in living areas and bathrooms, shaker-style cabinets, and modern lighting and fixtures. By trimming expenses, new ownership can capitalize on the existing upside opportunity immediately.
Located directly between Seattle and Tacoma, Burien offers Cierra Commons residents direct access to the area’s largest employment hubs while maintaining affordability as a quiet suburban retreat. The local economy is supported by major employment sectors including the Seattle-Tacoma International Airport, numerous retail businesses, and healthcare, with major employers like St. Anne’s Hospital and Kaiser Permanente. Burien is currently the most affordable submarket in the Seattle Metro area, allowing multifamily operators to maintain high occupancy rates and capitalize on this growing market.
PEAK 88
Unit Mix
Strategic Investment Opportunity with Expiring LIHTC
Address: City, State, Zip Year Built:
Price: Current Income/T12 Cap Rate
Market Cap Rate Units Number of Buildings
Stories
Average Unit Size
NRSF
Parking Lot Size Parcel Number Zoning
608 S 152nd St
Burien, WA 98148 1988
$14,000,000 5.75%
6.27%
66
5
3
773
50,922
114 Spaces
85,813 SF / 1.97 acres
176060-0333
RM-24