overview
deal room
contact
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exclusively offered by berkadia seattle
249-unit portfolio of five properties
Capitol Hill & Central District | Seattle, WA
highlights
5
Properties
total units
249
avg unit size
169 SF
total size
42,111 NRSF
years built
2009, 2011, 2012
investment highlights
Primary contact
Mitchell Belcher
email
Call
Five Micro-Housing Properties
249 units across five properties in Seattle’s Central District, available for sale as a portfolio at below $135k per door, the lowest-priced inventory per unit ever available in Seattle; existing assumable debt options for four properties have a fixed rate of 4.17% with balances ranging from $2M to $3.8M
Turnkey Opportunities with Upside
Properties were built in 2009, 2011, and 2012 and offer fully furnished units averaging 169 square feet with a private bathroom and kitchenette; each building features at least one full-sized, common-area kitchen and on-site laundry
Desirable Locations
Major employers and public transit options, including light rail, are easily accessible within a quick walk; the average Walk Score across the portfolio is 95, a Walker’s Paradise rating
Opportunity to Increase Rent
Units average 15% below rents at comparable properties with the potential to increase by an additional 10% with basic upgrades; each building is in original condition with early 2010s-style finishes
In-Demand Housing
Portfolio has maintained minimal vacancy since inception, with average occupancy rates consistently hovering above 95%; each lease-up has outpaced the market average for absorption
portfolio offering in
prime seattle submarket
contact us to learn more
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
chad blenz
Senior Director 206.491.2008 chad.blenz@berkadia.com
brandon lawler
Senior Director 206.484.8114 brandon.lawler@berkadia.com
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offices in bellevue & seattle
bellevue
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
206.521.7220
seattle
601 Union Street
Suite 3909
Seattle, WA 98101
206.521.7220
Privacy
terms of use
overview
deal room
contact
listings
avg unit size
169 SF
year built
2009, 2011, 2012
total size
42,111 NRSF
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.
Managing Director 425.891.9594 mitchell.belcher@berkadia.com
Managing Director 425.269.3826 steven.chattin@berkadia.com
Managing Director 206.999.3206 jay.timpani@berkadia.com
Senior Director 206.491.2008 chad.blenz@berkadia.com
Senior Director 206.484.8114 brandon.lawler@berkadia.com
