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exclusively offered by berkadia seattle
Two Trophy Assets with Tremendous Upside
Areté & Plaza
450 Central Way and 330 4th St | Kirkland, WA
highlights
2
properties
Residential units
401
Commercial spaces
15
Combined lot size
1.43 acres
AVG Unit Size
291 SF
investment highlights
Primary contact
Mitchell Belcher
email
Call
Two LEED Platinum Properties in A+ Location Neighboring trophy assets, Areté and Plaza, are expertly-designed properties in the heart of Kirkland; emphasis has been placed on eco-friendly materials, thoughtful community spaces, and luxury amenities
Award-Winning, Superior Quality Design and Build Areté received the WA State Governor’s Smart Communities Award and the U.S. Green Building Council’s Outstanding Multifamily Project Award; Plaza honored for excellence in design by the American Institute of Architects
In-Demand Submarket Kirkland’s high quality of life and technology hub fuel strong demand for local housing with Google, Salesforce, Meta, and Amazon are major drivers for housing demand sharp home price appreciation
Multiple Options for Upside Proven value-add program underscores ability to increase rents; 20 units identified for conversion to SEDUs and higher rent; 38 excess parking spaces have an estimated value of $100k per space; and more suggested avenues
Low Risk, High Return Phenomenal, low-interest assumable debt options; portfolio is listed well below replacement cost; new ownership to benefit from positive cash flow Day 1 for under $300K per door with opportunities to increase NOI immediately
The Investment Opportunity of a Lifetime
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
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overview
deal room
contact
listings
avg unit size
commercial spaces
15
combined lot size
1.43 acres
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
# SF
ben johnson
Managing Director 206.801.3144 ben.johnson@berkadia.com
Managing Director 206.801.3144 ben.johnson@berkadia.com
ben johnson
Managing Director 206.801.3144 ben.johnson@berkadia.com
David Sorensen
Managing Director 206.351.5222 david.sorensen@berkadia.com
Managing Director 206.351.5222 david.sorensen@berkadia.com
david sorensen
Managing Director 206.351.5222 david.sorensen@berkadia.com