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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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Seeking New Ownership After Thirty-Five Years
Our Team
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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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Chandler Hall, under the same ownership for the past 35 years, is now on the market. In Seattle’s prestigious Queen Anne neighborhood, it’s just steps from the Puget Sound and minutes from major tech employers in South Lake Union. The property is strategically positioned two miles from Downtown Seattle, offering proximity to over 336,000 employees and major corporate headquarters, presenting investors with a compelling opportunity to acquire a trophy asset in an A+ location. Built in 1924 with trophy architecture, Chandler Hall has been owner-operated and meticulously maintained, ensuring stability and minimal deferred maintenance.
Chandler Hall consists of 66 studios and 9 one-bedroom units, all in excellent condition with refinished original hardwood flooring, high ceilings, and abundant natural light. These features offer significant rental upside, with in-place rents achieving and exceeding market rates. Recent major capital expenditures include refinished hardwood floors, elevator mechanical upgrades, boiler system repairs, a new roof, and over $24,000 spent on in-unit electrical panel upgrades. These improvements provide a perfect foundation for new ownership to add modern finishes through a full renovation strategy, capitalizing on Seattle’s growing urban professional population. Current renovated rent premiums align with an 18% increase over in-place rents. After renovations, Chandler Hall will be well-positioned to demand top-of-market rental rates and steady rent growth over the long term.
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Exceptional Trophy Asset in A+ Location with Rental Upside
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
INVESTMENT ADVISORS
MORTGAGE BANKING
Our team
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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
Highly Coveted, A+ Location: With a Walk Score of 95, this area is considered a Walker’s Paradise, offering quick access to Seattle’s largest tech employers, including Amazon, Expedia, and the Gates Foundation; Chandler Hall is a short distance from popular attractions and landmarks such as the Seattle Center, Climate Pledge Arena, and the iconic Space Needle.
Historically High Occupancy: Located in one of Seattle’s most sought-after neighborhoods, the property maintains robust long-term occupancy, highlighting strong demand and a prime location in a thriving community; the submarket’s occupancy increased 140 basis points year-over-year through the first quarter.
Recent Capital Investment: Over $50,000 was invested last year in boiler system upgrades, mechanical elevator repairs, new roofing, hardwood floor refinishes, interior painting, and replacement of all interior unit electrical panels to minimize deferred maintenance and enhance operational efficiency.
Primed for Repositioning: This beautifully maintained midrise community, built in 1924 with brick masonry, includes 66 studios, 9 one-bedroom units, and surface parking.
Historic Charm with Rental Upside: This trophy, value-add asset, offers significant rental upside, with some units achieving and exceeding market rates; there is potential to further increase returns through a renovation strategy across all units.
Desirable Urban Submarket with Strong Demographics: The average household income within a two-mile radius is $147,789; Queen Anne’s average effective rents of $2,687 through Q1 2025 represent the third-highest benchmark in the Seattle Metro.
Pivot Point for Transit, Employment, and Entertainment: Queen Anne is anchored by Seattle’s most popular attractions, the Metro’s Rapid Transit D Line, and the future Light Rail Station Extension; it is near both the South Lake Union and Downtown Core employment hubs, home to over 70 million square feet of office and retail space, with 1.2 million square feet in development.
PEAK 88
Unit Mix
Address
City, State, Zip
Price
Units
Avg. Unit Size
Year Built
Building Size
Parking
T-3 Cap Rate
Market Cap Rate
Renovated Proforma Cap Rate
Parcel
Lot Size
Zoning
County
119 W Roy St
Seattle, WA 98119
$14,000,000
75
437 SF
1924
32,799 NRSF
22 Surface Spaces
4.56%
5.47%
5.68%
387990-0590
19,166 SF / 0.44 acres
MR (M)
King
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
connor lemley
Associate Director
206.455.1592
connor.lemley@berkadia.com
Michael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com