Haven Apartment Homes
EXCLUSIVE MULTIFAMILY OPPORTUNITY
25426 98th Ave S | Kent, WA, 98030
OPPORTUNITY
Berkadia Seattle Investment Sales is pleased to announce it has been retained as the exclusive listing broker for Haven Apartment Homes in Kent, WA.
Featuring 246 units and built in 1981, this asset represents a prime value-add opportunity in the Seattle MSA. With a diverse unit mix at various stages of renovation, investors have the opportunity to capitalize on the current plan or upgrade to a premium scope. The property offers recently renovated modern community amenities including a swimming pool, fitness center, outdoor playground, dog park, and clubhouse.
Haven Apartments is centrally located in the Kent Valley, offering quick commutes and easy access to top employers in the Seattle MSA via SR 167 and the Sounder Train at Kent Station, just 2 miles from the property. The Kent Valley itself hosts a range of employers, with a growing industrial and manufacturing workforce. It is home to companies like Blue Origin and Boeing, who have continued to expand and grow in the area.
- ADDRESS
- CITY, STATE, ZIP
- COUNTY
- PARCEL NUMBERS
- UNITS
- YEAR BUILT
- BUILDINGS
- STORIES
- SITE SIZE/ACREAGE
- RENTABLE SF
- AVERAGE UNIT SF
- AVERAGE MARKET RENT
- AVERAGE MARKET RENT/SF
246
UNITS
1981
BUILT
754
AVG. SF
ASSET
Haven Apartment Homes, constructed in 1981, features a variety of studio, one-, two-, and three-bedroom homes. Select units boast modern interiors, spacious closets, and full-size washers and dryers. Residents benefit from a range of appealing amenities, including an outdoor pool, fitness center, playground, and dog park. Centrally located near Kent Station, the community offers convenient access to local amenities, conveniences, and the Sounder Train for easy commutes to the area’s top employers.
STUDIO
32 Units
400 SF
1 BEDROOM
35 Units
700 SF
2 BEDROOM
151 Units
800 SF
3 BEDROOM
28 Units
980 SF
VALUE-ADD OPPORTUNITY
Haven Apartment Homes provides an opportunity for a premium value-add with luxury finishes, offering significant growth potential. In-order to maximize renovation returns, we also recommend adding in-unit laundry to the studio homes. With 76 standard homes, 67 partially renovated homes, and 103 renovated homes, and units, investors can capitalize on the need for high-quality properties by completing a premium renovation at Haven Apartment Homes.
Renovation Breakdown:
Standard Homes
76
Partially Renovated Homes
67
Renovated Homes
103
$247+
Renovated Premiums In-Place Rents to
Berkadia Reno Pro Forma
Berkadia Reno Pro Forma
$895k
Potential NOI Growth June T-12 to
Berkadia Reno Pro Forma
Berkadia Reno Pro Forma
Current Renovated Unit
Contact Us
Investment Sales
BEN JOHNSON
Managing Director
WA CRE #114515
206.801.3144
[email protected]
DAVID SORENSEN
Managing Director
WA CRE #26603
206.801.3102
[email protected]
GEORGE PALLIS
Director
WA CRE #138339
206.801.3070
[email protected]
PETER DUDUNAKIS
Associate Director
WA CRE #24008898
206.795.4169
[email protected]
KENNY DUDUNAKIS
Senior Managing Director
WA CRE #30749
206.521.7216
[email protected]
Mortgage Bankers
ANDY AHLERS
Managing Director
415.646.7707
[email protected]
ROBERT DOXSEE
Managing Director
786.646.2580
[email protected]
MICHAEL MANOLIDES
Senior Director
253.670.2143
[email protected]
Bellevue Office
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
425.230.2565
berkadia.com
berkadia.com/northwest
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