Sidney Apartments

400 Wall St  |   Seattle, WA 98121

Queen Anne Flats

521 2nd Ave W | Seattle, WA 98119

OPPORTUNITY

Berkadia Seattle Investment Sales is pleased to announce it has been retained as the exclusive listing broker for The Sidney and Queen Anne Flats, a 161-unit Seattle multifamily portfolio.

Ideally located in two of Seattle’s most sought-after urban neighborhoods, Belltown and south Queen Anne, the portfolio offers investors a compelling opportunity to acquire a complementary mix of core-plus and value-add assets in the heart of Seattle’s City Center, just minutes from major employment hubs including Amazon and Google, as well as iconic destinations such as Climate Pledge Arena and the Space Needle.

Built in 2000 and 2014, respectively, The Sidney and Queen Anne Flats feature a diverse combined unit mix of studio, one-, and two-bedroom homes. The Sidney comprises 128 units, 8,670 SF of ground-floor retail, and a two-level underground parking garage, while Queen Anne Flats offers 33 units with premium interior finishes, efficient floor plans, and a rooftop deck with views of Queen Anne and the Puget Sound. Currently managed together, the properties offer operational continuity under new ownership while also providing flexibility to operate individually if desired.

With strong locations, complementary profiles, and a below-replacement-cost basis, The Sidney and Queen Anne Flats are well positioned to appeal to buyers seeking to expand their Seattle footprint through a scaled urban investment.

Sidney Apartments

  • Address 400 Wall Street
  • City, State, Zip Seattle, WA 98121
  • County King
  • Parcel Number(s) 069600-0260
  • Zoning DMR/C
  • Site Size/Acreage 0.584
  • Built2000
  • Units128
  • Buildings 1
  • Stories 6
  • Rentable SF 95,891 SF
  • Average Unit SF 749
  • Average Market Rent $2,459
  • Average Market Rent/SF $3.28
  • Commercial Spaces5
  • Commercial SF8,670
  • Annual Commercial Rent/SF$23.73

Queen Anne Flats

  • Address 521 2nd Ave W
  • City, State, ZipSeattle, WA 98119
  • CountyKing
  • Parcel Number(s) 199020-0300
  • Zoning SM-UP 85 (M1)
  • Site Size/Acreage 0.16
  • Built2014
  • Units33
  • Buildings1
  • Stories4
  • Rentable SF17,219 SF
  • Average Unit SF522 SF
  • Average Market Rent$2,129
  • Average Market Rent/SF$4.08

INVESTMENT HIGHLIGHTS

Sidney Apartments

Core‑Plus Asset in a Premier Urban Submarket: 128‑unit multifamily community located in the heart of Belltown, one of Seattle’s most affluent and walkable urban neighborhoods.

Compelling Value‑Add Upside: Built in 2000 with select units already renovated, which provides a clear path for new ownership to complete interior upgrades and drive rent growth.

Queen Anne Flats

Modern, High‑Quality Construction: Built in 2014, the 33‑unit community features premium finishes across all units with efficient studio, one‑bedroom, and two‑bedroom floor plans.

Desirable Unit Mix & Amenities: Unit sizes range from 395–734 SF, complemented by a rooftop deck offering views of Queen Anne and the Puget Sound.

Flexible Ownership Strategy: Currently co‑managed with The Sidney; can operate as a standalone asset or as part of a portfolio under new ownership.

Seattle Core

Strong Demand Drivers from Tech & Biotech Employment: Within approximately one mile of major employers including Amazon, Google, and Meta, supporting sustained demand from high‑income, white‑collar renters.

Favorable Demographics and Income Profile: Average household incomes over $190,000, reinforcing renter affordability and long‑term rent growth potential.

Resilient and Rebounding Urban Market: Seattle’s urban core population has grown 53% over the last decade, with return‑to‑office mandates revitalizing foot traffic and neighborhood vibrancy.

Tailwinds from Global Visibility and Economic Momentum: Seattle’s role as a host city for the 2026 World Cup underscores the city’s continued rebound and long‑term economic resilience.

Tailwinds from Global Visibility and Economic Momentum: Concentration of high‑income employment, unmatched walkability, and urban lifestyle appeal support durable occupancy and favorable rent growth prospects.

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
Senior Director
WA CRE #138339
206.801.3070
[email protected]

PETER DUDUNAKIS
Associate Director
WA CRE #24008898
206.795.4169
[email protected]

Mortgage Bankers

ROBERT DOXSEE
Managing Director
425.777.0235
[email protected]

MICHAEL MANOLIDES
Senior Director
253.670.2143
[email protected]

CONNOR LEMLEY
Associate Director
206.455.1592
[email protected]

Bellevue Office:

411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
425.230.2565
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berkadia.com/northwest

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