Van Lloyd stands as a rare find in Burien—a well-maintained asset with pride-of-ownership quality and future upside. The property sits close to the Highline School District, attractive retail options, and major employment hubs across diverse sectors, including travel and tourism, healthcare, tech, private education, and manufacturing.

Ownership has completed over $375,000 in recent capital improvements, including upgraded electrical, plumbing, and heating systems, a new TPO roof, double-pane windows, and enhanced stormwater drainage. Additional improvements—including refreshed landscaping, privacy fencing, exterior paint, and a newly paved parking lot—reduce maintenance costs, enhance curb appeal, and ensure long-term asset stability.

Ownership has renovated 11 of 12 units, and the highest-performing units now command near top-of-market rates. Recent interior upgrades—including shaker-style cabinetry, quartz countertops, decorative tile backsplashes, stainless-steel appliances, vinyl plank flooring, and LED lighting—drive rent growth. Four of the twelve units include washers and dryers.

Van Lloyd offers a desirable blend of one- and two-bedroom units averaging 642 square feet. In-place rent represents only 14.9% of average household income, which indicates strong affordability and room for future rent increases.

Van Lloyd delivers immediate positive cash flow at a true cap rate north of 6% with no deferred maintenance or capital concerns. The property offers immediate rental upside by pushing rents to market ($125 per unit average) and installing in-unit washers and dryers in the remaining units.

Demand in the Burien submarket consistently matches or exceeds new supply, keeping occupancy high. Forecasters project net absorption will average 123 units per year through 2029, minimizing oversupply risk and supporting continued rent growth.

Qualified buyers can assume approximately $1.55M in debt with nearly four years remaining at a 4.06% fixed rate.

Burien sits near Seattle-Tacoma International Airport (SEA) with excellent transportation infrastructure. The city hosts nearly 2,000 businesses that employ over 15,000 residents, supports 174,950 total jobs, and generates $33.4 billion in total business output.