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exclusively offered by berkadia seattle
Superior Quality Construction in Downtown Redmond
Vision 5 8525 163rd Ct NE | Redmond, WA
highlights
$18.75M
Price
commercial units
2
year built
2013
Total size NRSF
20,436
AVG Unit Size
205 SF
investment highlights
Primary contact
Mitchell Belcher
email
Call
LEED PLATINUM PROPERTY IN AFFLUENT SUBMARKET
Expertly-designed trophy asset with a retail space and a leasing office in Redmond, WA, adjacent to Redmond Transit Center with bus service to light rail station; innovative design, indoor air quality, materials conservation, small footprint, and water conservation are just a few features contributing to the property’s LEED Platinum certification
MEANINGFUL DESIGN, QUALITY CONSTRUCTION
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
MULTIPLE OPTIONS FOR UPSIDE
55% of units have been upgraded and are achieving premiums, underscoring the ability to push rents by $175+ per unit with a deeper renovation scope; potential to convert model unit and small office to income-producing units without Design Review Board approval
INSATIABLE 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
Low-interest assumable debt; property is listed well below replacement cost; new ownership to benefit from positive cash flow Day 1 with multiple opportunities to increase NOI immediately
96 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
year built
2013
zoning
TSQ
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.
© 2024 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.
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
# SF
residential units
96
commercial units
2