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Award-Winning Sustainable Housing in Strong Rental Submarket
Tudor Manor 16552 NE 84th Ct | Redmond, WA
highlights
61
residential units
year built
2011
AVG Unit Size
211 SF
zoning
EH
Lot Size
0.33 acres
investment highlights
Primary contact
Mitchell Belcher
email
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Thoughtfully Designed Property in A+ Location
Nine townhome-style buildings in Redmond, WA, a short walk to the city’s Transit Center and Downtown Redmond Light Rail Station; the property sits on nine parcels totaling 0.33 acres and is comprised of 61 units with varying floorplans
Award-Winning Sustainable Housing Design
With an emphasis on eco-friendly materials, the building features thoughtful community spaces and luxury amenities including shared work spaces, sun decks, reserved parking, common kitchens and laundry, controlled access
Opportunities for Tremendous Upside
Concept plans available to add up to 11 more units with a potential increase of $150k to NOI, subject to final approval under new legislation set to be in-place by 2025; implementation of a light upgrade program will allow new ownership to increase rents by 24% over in-place rents
An Area of Strong Rental Demand
A dominant technology hub, Redmond is one of the most expensive areas in the Seattle MSA; city is home to Microsoft, Nintendo, Honeywell, and is favored by well-compensated tech workers as a result; the average mortgage payment for a single family home sits at nearly $10k per month
Low Risk, High Return Property is fully stabilized and priced below replacement cost; new ownership to benefit from positive cash flow Day 1 with opportunities to increase NOI immediately
61 Units in Highly Affluent Redmond, WA
contact us to learn more
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
chad blenz
Senior Director 206.491.2008 chad.blenz@berkadia.com
brandon lawler
Senior Director 206.484.8114 brandon.lawler@berkadia.com
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offices in bellevue & seattle
bellevue
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
206.521.7220
seattle
601 Union Street
Suite 3909
Seattle, WA 98101
206.521.7220
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overview
deal room
contact
listings
avg unit size
Lot Size
0.33 acres
zoning
EH
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.
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Managing Director 425.891.9594 mitchell.belcher@berkadia.com
Managing Director 425.269.3826 steven.chattin@berkadia.com
Managing Director 206.999.3206 jay.timpani@berkadia.com
Senior Director 206.491.2008 chad.blenz@berkadia.com
Senior Director 206.484.8114 brandon.lawler@berkadia.com
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