Document Center
Investment
Contact
Privacy
Terms of Use
Back to Top
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
INVESTMENT ADVISORS
Primary Contact:
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
Visit the Document Center
prime turnkey asset with initial lease-up nearing completion
Our Team
View Listings
Document Center
Investment
Contact
Privacy
Terms of Use
91 Newly Built Units in Major Employment Hub
Address
City, State, Zip
Units
Year Built
Total Size
Parcel Nos.
Total Lot Size
Zoning
County
421 Belmont Ave E
Seattle, WA 98102
91
2024
26,069 NRSF
684820-0490
0.17 acres
MR (M)
King
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.
© 2024 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
Privacy | Terms of Use
The Opportunity
Privacy | Terms of Use
LINK 7
Map
Unit Mix
Property
The Opportunity
Contact
Document Center
MENU
91 Newly Built Units in Major Employment Hub
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@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
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 company business in Nevada.
© 2024 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.
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
/ Capitol Hill offers quick access to the Central Business District, Downtown Seattle, and South Lake Union, supported by a Walk Score of 96 and a Transit Score of 87; with proximity to I-5 and I-90, Alt Flats serves as a gateway to major employer centers on the Eastside.
/ Brand new 2024 construction in Seattle’s Capitol Hill neighborhood, just three blocks from Broadway, the area’s main hub for restaurants, shopping, and nightlife.
/ Achieving 95% occupancy, Alt Flats is fully stabilized and has completed its initial lease-up, demonstrating rental upside with rents setting new benchmarks at 20% above current market rates; additional operating income of $54,000 is projected annually through storage, pet rent, and laundry services.
/ Amenities include a panoramic rooftop deck overlooking Elliot Bay and South Lake Union, a firepit and grill, air conditioning on the top two floors, secured 24-hour access, a lobby lounge with Wi-Fi and workstations, and a communal kitchen with multiple cook stations and eating areas.
/ The diverse unit mix includes studios, one- and two-bedroom units; 24% of all units are lofted, with open floorplans, 17-foot ceilings, and terraces.
421 Belmont Ave E
Seattle, WA 98102
Units
91
built
2024
total size
26,069 NRSF
Parcels
684820-0490
Lot size
0.17 acres
zoning
MR (M)
Mitchell Belcher | Managing Director
425.891.9594
mitchell.belcher@berkadia.com
425.891.9594
mitchell.belcher@berkadia.com
Unit Mix
Our Team
Document Center
The Opportunity
Location Map
Our Team
Document Center
prime turnkey asset with initial lease-up nearing completion
/ There is a robust renter pool within a one-mile radius, with 85% of housing units renter-occupied, compared to 38% in the Seattle Metro.
/ Alt Flats boasts an Energy-Efficient, Built-Green 4-Star Certification.
/ Alt Flats is well-connected to major employment hubs, including Capitol Hill, South Lake Union, and Downtown Seattle, home to over 9,300 workplaces and notable employers like Amazon, Google, and the University of Washington.
Brand new 2024 construction in Seattle’s Capitol Hill neighborhood, just three blocks from Broadway, the area’s main hub for restaurants, shopping, and nightlife.
Capitol Hill offers quick access to the Central Business District, Downtown Seattle, and South Lake Union, supported by a Walk Score of 96 and a Transit Score of 87; with proximity to I-5 and I-90, Alt Flats serves as a gateway to major employer centers on the Eastside.
Achieving 95% occupancy, Alt Flats is fully stabilized and has completed its initial lease-up, demonstrating rental upside with rents setting new benchmarks at 20% above current market rates; additional operating income of $54,000 is projected annually through storage, pet rent, and laundry services.
Alt Flats boasts an Energy-Efficient, Built-Green 4-Star Certification.
The diverse unit mix includes studios, one- and two-bedroom units; 24% of all units are lofted, with open floorplans, 17-foot ceilings, and terraces.
Amenities include a panoramic rooftop deck overlooking Elliot Bay and South Lake Union, a firepit and grill, air conditioning on the top two floors, secured 24-hour access, a lobby lounge with Wi-Fi and workstations, and a communal kitchen with multiple cook stations and eating areas.
There is a robust renter pool within a one-mile radius, with 85% of housing units renter-occupied, compared to 38% in the Seattle Metro.
Alt Flats is well-connected to major employment hubs, including Capitol Hill, South Lake Union, and Downtown Seattle, home to over 9,300 workplaces and notable employers like Amazon, Google, and the University of Washington.
/
/
/
/
/
/
/
/
UNIT MIX
