64-Unit Value-Add Asset with $1.1M in Recent Exterior Improvements
Immediate Upside Opportunity Steps from Kent Light Rail Station
Visit Doc CenterPrime Location & Connectivity
Less than half a mile from the Kent-Des Moines Light Rail Station with direct access to Seattle, Everett, and Tacoma. Surrounded by major employers including Amazon, UPS, Boeing, and Blue Origin, plus Highline College (14,000+ students) just 1 mile away.
Recently Renovated Exterior
Over $1.1 million in comprehensive exterior upgrades delivers a turnkey exterior, allowing focus on interior value-add with minimal deferred maintenance.
Desirable Amenities
Community pool, hot tub, dog park, and communal laundry enhance resident appeal in a submarket with limited new construction (average building age 1989).
Exceptional Site Characteristics
Large 3.72-acre single parcel with PR-R zoning and generous 2.5:1 parking ratio (160 spaces for 64 units), providing potential future density opportunities.
Well-Maintained & Professionally Managed
Owner-managed by Olympic Management with onsite manager’s office, ensuring operational continuity and strong tenant relationships.
Optimized Unit Mix
Recent conversion from three-bedroom to two one-bedroom units (now 64 total) aligns with strong market demand, particularly among the key 18-35 renter demographic (24% of local residents vs. 22% metro-wide).
Property Overview
Silverwood Park
- ADDRESS
- CITY, STATE ZIP
- UNITS
- PRICE
- PRICE PER UNIT
- YEAR BUILT
- YEAR RENOVATED
- NRSF
- MARKET CAP RATE
- Renovated Cap Rate (Cost-Adjusted)
- PARKING
- PARCEL NUMBER
- LOT SIZE
- Zoning
- County
Unit Mix
Unit
Type
Type
Count
Avg Unit
SF
SF
Total
SF
SF
Current
Rent
Rent
Market
Rent
Rent
Renovated
Rent
Rent
Monthly
Rent
Rent
Annual
Rent
Rent
Rent/SF
% of
Total Units
Total Units
Studio
15
474
7,110
$1,253
$1,400
$1,500
$22,500
$270,000
$3.16
23%
1 Bed / 1 Bath
15
588
8,820
$1,417
$1,500
$1,600
$24,000
$288,000
$2.72
23%
1 Bed / 1 Bath - Large*
34
710
24,140
$1,463
$1,550
$1,700
$57,800
$693,600
$2.39
53%
Total / Average
64
626
7,700
$1,403
$1,503
$1,630
$21,600
$259,200
$2.60
*Renovated Rent includes w/d added in-unit
PHOTO GALLERY
Contact us
INVESTMENT SALES
Chad Blenz
Senior Director
206.491.2008
[email protected]
Mitchell Belcher
Managing Director
425.891.9594
[email protected]
Steven Chattin
Managing Director
425.269.3826
[email protected]
Jay Timpani
Managing Director
206.999.3206
[email protected]
Brandon Lawler
Senior Director
206.484.8114
[email protected]
mortgage banking
Mackinley Robinson
Senior Director
360.704.8831
[email protected]
offices in bellevue & seattle
bellevue
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
206.521.7220
seattle
601 Union Street
Suite 3720
Seattle, WA 98101
206.521.7220
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