82-Unit Sustainably Built Trophy Asset in the Heart of South Lake Union
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Opportunity

Luxury Asset with Commercial Income & Underground Parking in Seattle’s Tech Hub 

Stream Dexios delivers sustainable, modern living in South Lake Union, Seattle’s premier technology hub. Thoughtfully curated amenities prioritize resident convenience and comfort, featuring a rooftop deck with community gardens and recreational spaces, a fully equipped fitness center, comprehensive storage and bike facilities, and secure package delivery systems. The property showcases diverse floor plans including studios, two-bedroom residences, and unique lofted one- and two-bedroom apartments, many with private rooftop access, ensuring an ideal layout for every preference and stage of life.

Stream Dexios positions residents minutes from Amazon, Apple, Meta, and Google headquarters, plus major healthcare, biotech, and life science employers. Seamless I-5 access connects residents to Seattle’s vibrant neighborhoods, making it the perfect starting point for any commute or city adventure. South Lake Union houses over 560 workplace establishments across 220 office buildings, encompassing 15.7 million square feet of office and lab space with 1.4 million additional square feet under construction. This pedestrian-friendly district combines thriving business community dynamics with exceptional quality of life, making Stream Dexios the premier choice for professionals seeking to live at Seattle’s innovation epicenter.

Stream Dexios dominates multiple competitive areas within the submarket. The property generates over $90,000 annually from 51 secured garage parking spaces, ranking among only four modern-vintage (2015+) properties within a half-mile radius achieving 0.50/unit parking ratios or greater. Two ground-level commercial spaces averaging 548 square feet each house tenants with leases running through May 2028, generating over $30,000 in annual commercial income. An additional 2,094 square feet of retail space is currently being converted into two separate live/work units, with market rents for those units projected at 93% premiums over existing commercial tenants. Investors can assume existing favorable debt featuring a 4.54% fixed rate maturing June 2031, enabling flexible financing strategies. The 12-Year MFTE Program participation diversifies tenant profiles while limiting property tax liabilities through 2032.

Strategic Urban Connectivity

A Walk Score of 82 (Very Walkable) puts residents steps from Amazon, Virginia Mason Medical Center, Fred Hutch Cancer Center, Meta, Apple, and Google; Interstate 5, Highway 99, and bus route 11 connect residents to 12 nearby neighborhoods and Downtown Seattle’s 336,900 jobs.

Unrivaled Unit Mix

Stream Dexios is comprised of 82 residential units and two fully occupied commercial suites, including two brand-new live/work units undergoing conversion from ground-level retail; the property features a blend of studio, one-, and two-bedroom floorplans with varying layouts, including six lofted penthouse units (four 1-bedrooms, two 2-bedrooms) that expand tenant options and rental upside.

Rooftop Community Garden & Terrace

The panoramic rooftop terrace overlooks South Lake Union and features a curated community garden that is professionally managed and able to be harvested by tenants for free.

Exceptional Rent Growth

The property outperforms market averages with nearly 10% rent growth on lease trade-outs and 5% increases on renewals over recent months; since 2021, submarket rents have surged 20.84%, demonstrating the asset’s strong positioning in this growth corridor.

Sustainably Built

Completed in 2020 with Built Green 4-Star Certification, Stream Dexios features superior-quality modern construction and energy systems reducing usage 20% below state standards, ensuring lower operational costs and strong tenant appeal.

Luxury Resident Features

Residences include private balconies, smart home technology, stainless steel appliances, in-unit washers and dryers, vinyl plank flooring, quartz countertops, built-in shelving, and expansive windows; 51 secured underground parking spaces generate over $90,000 annually in additional revenue.

Existing Assumable Debt

Assumable debt of approximately $20.75M carries nearly six years remaining at a 4.54% fixed rate.

Additional Tax Savings

Participating in Seattle’s 12-Year MFTE Program will result in property tax savings of over $300K annually, creating over $1.7M in Net Present Value.

Affluent Renter Base

Within two miles, residents average $146,602 in household income and an overall median income of $117,276, indicating a stable, high-earning, well-educated tenant demographic.

Property Overview

Stream Dexios

  • ADDRESS1600 Dexter Ave N
  • CITY, STATE ZIPSeattle, WA 98109
  • UNITS82 + 2 Commercial
  • AVG. UNT SIZE629 SF
  • YEAR BUILT2020
  • Building Size52,880 NRSF
  • Stories6
  • Parking51 Garage Spaces
  • PARCEL8807900200
    8807900210
  • LOT SIZE13,799 SF / 0.32 acres
  • ZONINGMR (M)
  • COUNTYKing

Unit Mix

Unit
Type
Count 
Avg Unit
SF
Total
SF
Current
Rent
Market
Rent
Rent/SF
% of
Total Units
Studio
17
429
7,289
$1,811
$1,825
$4.26
21%
Studio - MFTE
4
436
1,744
$1,566
$1,566
$3.59
5%
Open 1 Bedroom - MFTE
9
514
4,629
$1,903
$1,903
$3.70
11%
Open 1 Bedroom
15
515
7,721
$2,090
$2,100
$4.08
18%
1 Bed / 1 Bath
17
673
14,446
$2,504
$2,525
$3.75
21%
1 Bed / 1 Bath - Penthouse
2
711
1,422
$2,873
$2,875
$4.04
2%
Live / Work
1
842
842
$2,600
$2,600
$3.09
1%
1 Bed / 2 Bath - Penthouse
2
870
1,740
$3,150
$3,150
$3.62
2%
2 Bed / 1 Bath 
8
892
7,132
$3,082
$3,100
$3.48
10%
2 Bed / 1 Bath - MFTE
2
975
1,950
$2,488
$2,488
$2.55
2%
2 Bed / 2 Bath - MFTE
1
1,174
1,174
$1,861
$1,861
$1.59
1%
2 Bed / 2 Bath - Penthouse
2
1,214
2,428
$4,673
$4,675
$3.85
2%
Live / Work *
2
1,047
2,094

$3,250
$3.10
2%
Total / Average
82
629
51,611
$2,295
$2,329
$3.70

*Existing commercial suite to be converted into two live/work units prior to closing

Amenities

Community Amenities 

  • Built Green 4-Star Certified
  • Passive Cooling Designs
  • Low-Flow Water Fixtures
  • Elevator Access
  • 24-Hour Controlled Access with Key Fob Entry
  • Onsite Property Management and Maintenance
  • EV Charging Stations
  • Rooftop Terrace with BBQ Facilities
  • Fitness Center
  • Package Lockers
  • Recycling Services
  • Panoramic Skyline Views
  • Secured Garage Parking
  • Dero Bicycle Storage Lockers

Unit Amenities

  • Vinyl Plank Flooring
  • In-Unit Washer & Dryer
  • Energy-Star Stainless Steel Appliances
  • Private Patios
  • Key Fob Entry & Smart Home Devices
  • Built-In Storage & Office Workstations
  • Kitchen Islands
  • Quartz Countertops
  • Tile Backsplashes
  • Range & Garbage Disposal
  • Modern Fixtures & Lighting
  • Window Coverings & Sliding Glass Doors
  • Floor-to-Ceiling Windows

LOCATION

Contact us

INVESTMENT SALES

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]

Chad Blenz
Senior Director
206.491.2008
[email protected]

Brandon Lawler
Senior Director
206.484.8114
[email protected]

mortgage banking

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]

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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