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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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Historically High Occupancy & Immediate Rental Upside
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
contact
Phone: 206.521.7220
Fax: 206.521.7222
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Affordable Cost of Living
Attractive opportunity for investors confident in the Burien Market and its affordable cost of living, which is currently 22.5% less than the Seattle metro.
In-Unit Amenities
Majority of units feature in-unit washers and dryers, reducing renovation costs and enhancing cash-on-cash returns.
Financial Potential
Opportunity to achieve a 7% cap rate, a rare find in this market.
Low Delinquency and Vacancy Rates
Exceptionally low rates compared to neighboring properties along Ambaum Blvd.
Desirable Unit Mix
Majority of units are spacious two-bedroom apartments over 1,000 square feet, appealing to a broad tenant base.
On-Site Management
Convenient on-site management office for tenant support.
Attractive Pricing and Leverage: Priced at $165,000 per unit with a robust T-3 Cap Rate exceeding 6%.
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52-Unit Value-Add Opportunity Near SeaTac Airport
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
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
INVESTMENT ADVISORS
MORTGAGE BANKING
Our team
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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
The Raleigh presents a prime investment opportunity in Burien, located just minutes from the Seattle-Tacoma International Airport. This 52-unit low-rise property is coming to market at an attractive price of $165,385 per unit and $181 per square foot, a total value of $8.6 million. The Raleigh presents new ownership with immediate upside in Seattle’s most affordable submarket.
The property features a strong unit mix of spacious one- and two-bedroom units, with a majority of units exceeding 1,000 square feet. The units feature well-equipped kitchens with electric stoves and dishwashers, along with vinyl plank flooring. Additionally, most units include in-unit washers and dryers, significantly reducing future renovation costs. With minor upgrades during tenant turnover, The Raleigh provides residents with a comfortable living environment while offering ownership value-add potential to capitalize on future rental upside.
Located directly between Seattle and Tacoma, Burien offers residents direct access to the area’s largest employment hubs while maintaining affordability as a quiet suburban retreat. The local economy is supported by the Seattle-Tacoma International Airport, numerous retail businesses, and major healthcare employers like St. Anne’s Hospital and Kaiser Permanente. Burien is currently the most affordable submarket in the Seattle Metro area, allowing multifamily operators to maintain high occupancy rates and capitalize on this growing market.
PEAK 88
Unit Mix
Strategic Investment Opportunity with Expiring LIHTC
Address
City, State, Zip
Year Built
Price
Price / Unit
Price / SF
T-3 Cap Rate
Market Cap Rate
Renovated cap rate
Units
Average Unit Size
NRSF
Parking
Lot Size
Parcel Number
12411-12415 Ambaum Blvd SW
Burien, WA 98146
1967
$8,600,000
$165,385
$181
6.69%
7.02%
7.35%
52
914
47,545
75 spaces
56,700 SF / 1.30 acres
374460-0560