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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
INVESTMENT ADVISORS
Primary Contact:
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
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0.75 acres for 14 townhomes units
Address
City, State, Zip
Units Proposed
Price
Total Lot Size
Parcel Nos.
Zoning
County
3103 125th Ave
Bellevue, WA 98005
14
$4,500,000
32,670 NRSF / 0.75 acres
0924059173
R-30
King
0.75 acres in the Seattle MSA's most expensive submarket
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.
© 2024 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
Privacy | Terms of Use
The Opportunity
Development Site in Submarket
with High Barrier to Entry
Three-quarters of an acre of raw land in Bellevue, WA, where the cost of owning a home is more than 3X higher per month than renting; site is 3.6 miles from Downtown Bellevue, and within 2 miles of T-Mobile's headquarters and Bellevue College
Pivot-Point Location
with Proximity to Interstates, Light Rail
Site is situated at the confluence of Interstates 90 and 405 with Downtown Seattle accessible within a 15-minute drive; less than 2 miles from the South Bellevue Light Rail Station, part of Sound Transit’s $53.8B expansion and one of 10 new East Link stations scheduled to open by Spring 2025
Plans for 14 Townhomes
Preliminary analysis proposes the development of 14 townhome units with garage parking; surging growth surrounding the site in conjunction with limited affordable housing options in the area support strong future rental demand
Opportunity to Maximize Rental Income
Site is primed to maximize returns with proximity to transit, employers, and urban cores; submarket historically a magnet for apartment demand due to high price of homes; Bellevue rent projected to land approximately 12.9% above the average effective rent of the Seattle MSA
/ Average townhome on the market within 3 miles is $803,167; average condo is $1,076,367; average SFR is $4.8M
/ 37% of housing units within 1 mile are renter occupied with 20% of the population within a 1-mile radius in the key renter age group (18-35)
/ 83% of the population within 1 mile are white collar workers; 13,900+ full-time equivalent employees and 850+ businesses
/ Median income within 5 miles of the siteis 49.4% higher than in the Seattle metro; within 1 mile, the median HHI is slated to surpass $193,620 by 2028, a 38.8% increase
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0.75 Acres for 14 Townhome Units
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Major Technology Center
with Strong Rental Demand
Bellevue is home to offices for Microsoft, Google, Paccar HQ, T-Mobile HQ, Amazon, and more; exceptional quality of life, job opportunities, and high cost of homeownership will continue to drive apartment demand, regardless of disruption/downsizing from employers
Artur Otto
Associate Director
artur.otto@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
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 company business in Nevada.
© 2024 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.
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
Development Site in Submarket with High Barrier to Entry
Three-quarters of an acre of raw land in Bellevue, WA, where the cost of owning a home is more than 3X higher per month than renting; site is 3.6 miles from Downtown Bellevue, and with 2 miles of T-Mobile's headquarters and Bellevue College
Pivot-Point Location with Proximity to Interstates, Light Rail
Site is situated at the confluence of Interstates 90 and 405, with Downtown Seattle acccessible within a 15-minute drive; less than 2 miles from the South Bellevue Light Rail Station, part of Sound Transit’s $53.8B expansion and one of 10 new East Link stations scheduled to open by Spring 2025
Plans for 14 Townhomes
Preliminary analysis proposes the development of 14 townhome units with garage parking; surging growth surrounding the site in conjunction with limited affordable housing options in the area support strong future rental demand
Opportunity to Maximize Rental Income
Site is primed to maximize returns with proximity to transit, employers, and urban cores; submarket historically a magnet for apartment demand due to high price of homes; Bellevue rent projected to land approximately 12.9% above the average effective rent of the Seattle MSA
Major Technology Center with Strong Rental Demand
Bellevue is home to offices for Microsoft, Google, Paccar HQ, T-Mobile HQ, Amazon, and more; exceptional quality of life, job opportunities, and high cost of homeownership will continue to drive apartment demand, regardless of disruption/downsizing from employers
3103 125th Ave SE
Bellevue, WA 98052
Units proposed
14
Parcel
0924059173
Lot size
0.75 acres
zoning
R-30
county
King
Price
$4,500,000
Mitchell Belcher | Managing Director
425.891.9594
mitchell.belcher@berkadia.com
425.891.9594
mitchell.belcher@berkadia.com
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