Canopy

Berkadia Seattle Investment Sales is pleased to announce it has been retained as the exclusive listing broker for Canopy Apartments located in Everett, WA.

This community offers an institutional value-add opportunity in a growing pocket of the Puget Sound region. The 336-home community displays meaningful upside, with 27% of the units not yet fully renovated, allowing a new owner the opportunity to execute a programmatic renovation strategy that replicates the in-place blueprint and captures remaining upside.

Situated between Mukilteo and Mill Creek, Canopy is well positioned to draw demand from these established suburban neighborhoods while directly benefiting from Everett’s continued economic and population growth. The area’s fundamentals are anchored by Boeing’s Everett Factory, the world’s largest building by volume, supported by Alaska Airlines’ order of 105 Boeing 737-10s. This expanding aerospace sector, alongside growth in the maritime and technology sectors, is attracting skilled workers, deepening the renter pool, and reinforcing durable apartment demand across Everett and the surrounding submarkets.

The market’s apartment fundamentals are supported by a diversifying and expanding employment base, ongoing public and private investment, meaningful population growth, and relative affordability compared to core Puget Sound markets. Collectively, these dynamics position Canopy Apartments as a scalable, institutional-quality value-add community poised to benefit from both asset-level upside and sustained regional tailwinds.