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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
INVESTMENT ADVISORS
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
MORTGAGE BANKING
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Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
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Value-Add Opportunity with Immediate Upside
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Address: City, State, Zip Year Built: Units:
Buildings Stories Avg. Unit Size
Parking
NRSF Lot Size Parcel Number Zoning
Strategic Investment Opportunity with Expiring LIHTC
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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Significant Upside Potential
With 30-year LIHTC restrictions terminating effective January 1, 2025, and in-place leases ending by April, rents can be immediately increased by an average of 23% to market rates without significant changes to operational expenses.
Value-Add Opportunity
While the property has undergone light remodeling over the years, the majority of units remain in classic condition, making it an ideal candidate for a full value-add program while pushing rents to market rate. Post-renovation, monthly rent premiums of $100+ per unit are projected across all unit types.
Further Upside Potential
Implementing a RUBS program across all 36 units would generate nearly $50,000 in additional annual operating income by recovering 85% of utility costs.
Ample Parking
The property offers 30 surface and 30 covered parking spaces, creating opportunities for additional income while providing residents with abundant parking options.
Pivot-Point Location
Located in the heart of Renton, Washington, the property connects residents to freeways, airports, seaports, and railways. It offers direct access to Interstates 405 and 5, King County Metro and Sound Transit Express buses, and Sounder Commuter Rail services between Tacoma and Downtown Seattle.
Employer Arterial
The property provides easy access to major Eastside employers like Microsoft, Google, T-Mobile, Amazon, and Boeing. Residents enjoy a 35% lower cost of living compared to Seattle while staying close to these employment centers.
Affluent, Expanding Renter Base
Within a five-mile radius, 68% of residents work in white-collar jobs, and average household incomes are projected to reach $149,947 by 2029—a 32.9% increase. Rising home values, with median single-family home prices up 12.4% year-over-year, continue to drive strong rental demand.
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Prime Repositioning Opportunity with Immediate Upside in Attractive Seattle Submarket
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
Back to Top
View Listings
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
330 Vuemont Pl NE
Renton, WA 98056 1978 36
1
3
781
60
28,106
38,333 SF / 0.88/acre
172305-9166
RM-F
Peak 88 is a 36-unit value-add property offering immediate upside in Renton, one of Seattle’s most desirable submarkets. The .88-acre lot offers easy access to major employers like Boeing as well as shopping and entertainment nearby at The Landing. With a cost of living 35% lower than Seattle, Peak 88 combines convenience and affordability.
Built in 1978, Peak 88 has undergone light remodeling and upgrades over the years while maintaining its solid foundation. The property features spacious floor plans averaging 781 SF, well-equipped kitchens, in-unit washers and dryers, private balconies, and wood-burning fireplaces. Residents also benefit from a near 2:1 parking ratio, with the option for covered parking.
Peak 88 presents a strong investment opportunity, with 30-year LIHTC restrictions that recently expired on January 1, 2025. Without significant operational changes, rents can be immediately increased 23% to align with current market rates, and post-renovation premiums of $100+ per unit are projected across all unit types. Situated in the middle of a growing and affluent renter base—where average household incomes are expected to reach $149,947 by 2029—Peak 88 is well-positioned to capitalize on strong rental demand and continued home value appreciation in the region.
PEAK 88
Ben Johnson
Managing Director
425.999.6970
ben.johnson@berkadia.com
David Sorensen
Managing Director
206.351.5222
david.sorensen@berkadia.com
Unit Mix
Strategic Investment Opportunity with Expiring LIHTC
Strategic Investment Opportunity with Expiring LIHTC