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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
Associate Director
253.670.2143
michael.manolides@berkadia.com
INVESTMENT ADVISORS
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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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 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/.
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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Established, Reliable Renter Base:
At 100% occupancy and no delinquencies, Kenwood Court offers investors the opportunity to acquire a stable and lucrative asset with dependable tenancy.
Limited Available Supply:
Within a half-mile radius of the property, there are only 15 apartment buildings with a total of 144 units, 99% of which are fully occupied.
Highly Desirable Location:
The property boasts an 83 Walk Score (very walkable), and residents of Kenwood Court have convenient access to the Tangletown or Wallingford neighborhoods, which have a variety of coffee shops, restaurants, bars, retail, and entertainment options.
Proximity to Transit Options:
Seattle’s wide variety of public transit options are within minutes of the property, including bus route #62 and Keystone Place North (one-minute walk), which has transport departing every 12 to 15 minutes. In addition, the property is just a few blocks from I-5 and SR 99, the main thoroughfares leading to downtown Seattle.
Unmatched Employer Access:
Around Kenwood Court, the neighborhoods of Fremont, South Lake Union, and the University District are home to dozens of highly regarded employers including Google, Amazon, Tableau, Meta, Apple, Lumen Bioscience, the University of Washington, and many more.
Incomparable Recreational Proximity:
The property is just a six-minute walk from the popular Green Lake Trail, a 2.8-mile loop around Green Lake which attracts thousands of visitors each year. The trail leads to Green Lake Park, a natural preserve for hundreds of species of trees, plants, and wildlife, and is also home to athletic fields, boating, picnics, and swimming.
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Rare 16-Unit Value-Add Opportunity in Seattle’s Tangletown Neighborhood
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
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@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
Solid surface countertops Undermount kitchen sink Stainless steel appliances Tile backsplash New cabinet fronts Updated hardware Modern lighting fixtures Upgraded plumbing In-Unit stackable Washer/Dryer
Kenwood Court
New ownership will be afforded the opportunity to further implement a proven value-add program to the remaining 19 classic units while raising each unit’s rent to market rate in the interim—an increase of $6,875 in monthly rental income. Renovated units that include the below upgrades are currently achieving monthly rent premiums of $300 above in-place rents.
Renovated Unit
Renovated Unit
Renovated Unit
Classic Unit
Address
Price Built Units Building Size Parcel Lot Size Zoning County
5507 Kenwood Pl N Seattle, WA 98103
$3,850,000
1910
16
9,800 NRSF
955120-2760
0.1629 acres | 7,100 SF
NC1-40 (M)
King