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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
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Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
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47-Unit Trophy Asset with Assumable Debt in A+ Location
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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 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
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Phone: 206.521.7220
Fax: 206.521.7222
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Stream 403 presents a premier investment opportunity in Capitol Hill, one of Seattle’s most sought-after areas, known for eclectic dining, shopping, and entertainment. Built with sustainability in mind, this property proudly holds a Built Green 4-star certification. Stream 403 blends contemporary design with high-quality finishes to provide residents with a stylish and comfortable living environment. Residents enjoy key amenities such as a fitness center, rooftop deck, smart home features, and flexible storage options, all of which enhance tenant satisfaction and elevate the property’s appeal. Investors can assume the favorable existing debt, which features a fixed interest rate of 3.95% maturing in October 2027, allowing for flexible financing options.
The property connects directly to Downtown Seattle, the city’s tech hub of South Lake Union, and multiple public transit options, including I-5 and I-90. Stream 403 provides immediate connectivity to over 2,000 workplaces and 15 million square feet of office space, supported by industry giants like Amazon, Apple, Google, and Meta. Capitol Hill thrives from a robust economy driven by the technology, healthcare, and education sectors. The neighborhood has a strong demographic profile, with a population earning an average income of $158,311 within a one-mile radius.
Stream 403 stands out with its open-concept unit layouts, thoughtful design, and extensive amenities. It incorporates sustainable building systems such as ambient transfer heat exchangers, low-flow water fixtures, Energy-Star appliances, and passive cooling designs, which reduce operating costs and maximize cash flow and investor returns. The unit mix aligns perfectly with submarket demands, with studio units averaging 5.4% larger than comparable properties, enabling the property to command strong rents for market-rate units. By participating in the 12-Year Multifamily Tax Exemption Program, ownership benefits from a broader tenant profile while limiting property tax liabilities through 2029. With minimal operational changes, new ownership can capitalize on a quality-built, turnkey asset with proven rental upside in one of Seattle’s most vibrant neighborhoods.
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47-Unit Trophy Asset with Assumable Debt in A+ Location
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
INVESTMENT ADVISORS
MORTGAGE BANKING
Our team
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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
Impeccable Location: Easy access to the Central Business District, Downtown Seattle, and South Lake Union, boasting a Walk Score of 96 and a Transit Score of 87. A short bus or bike ride connects you to Seattle’s largest tech employers, including Amazon, Apple, Fred Hutchinson Cancer Center, Swedish Medical Center, and the Gates Foundation, among over 9,300 workplaces.
Proven Rental Upside: Highest achieving rents are commanding up to $215 in monthly premiums over current market rates. New ownership can align all market-rate units and implement a RUBS program to boost operating income by $35,000. Secure parking and storage lockers generate steady supplemental revenue streams.
Sustainably Built: The property earned a Built Green 4-Star Certification upon completion in 2017, ensuring minimum energy use improvements of 20% over Washington state building standards.
Existing Assumable Debt: Assume debt available at approximately $9.79M with 2.5 years remaining at a fixed rate of 3.95%, with no prepayment penalty after October 2025.
World-Class Healthcare Provides Recession-Proof Employment: Seven hospitals within five miles of the property offer recession-proof employment, supporting over 50,000 jobs in the region.
Additional Tax Savings: Participate in Seattle’s 12-Year MFTE Program for a property tax savings of over $150k annually, equating to a gain of over $1M in Net Present Value.
Superior Income Demographics: Within a one-mile radius, 76% of residents hold a bachelor’s degree or higher, compared to 45% in the Seattle metro area. Average household income is projected to exceed $208,000 annually by 2029.
Life of Convenience: A short walk to Seattle’s expanding Light Rail, Broadway Market, Seattle Public Library, grocery stores, restaurants, and abundant nightlife.
Amenities With Character: Panoramic rooftop terrace with city skyline and mountain views, a fitness center, space-efficient storage lockers, and package lockers. Units feature private balconies, smart home features, stainless steel appliances, vinyl plank flooring, and washers and dryers.
PEAK 88
Unit Mix
Address City, State, Zip Units
Avg. Unit Size
Year Built
Building Size
Stories Parking
Parcel
Lot Size Zoning
County
403 Belmont Ave E
Seattle, WA 98102 47
537 SF 2017
25,237 NRSF
8
16 Garage Spaces
684820-0476
7,200 SF / 0.17 acres
MR (M)
King
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
connor lemley
Associate Director
206.455.1592
connor.lemley@berkadia.com
Michael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com