Summit Vista | 1410 Wendell Ave SE
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Summit Vista 1410 Wendell Ave SE Immeuble residentiel 119 lots À vendre Port Orchard, WA 98366
Certaines informations ont été traduites automatiquement.
RÉSUMÉ ANALYTIQUE
Newly constructed in 2024, Summit Vista combines luxury living and modern design in a tranquil, low-density environment. This thoughtfully designed 119-unit community offers breathtaking views of the Olympic Mountains and prioritizes connectivity and community. It provides residents with a serene lifestyle and direct access to everyday conveniences, major employers, and surrounding nature.
Located in Port Orchard, Summit Vista is just a short ferry ride away from downtown Seattle and its key employers. The local economy thrives on a diverse array of sectors, including government, tourism, aerospace, and healthcare industries. At Summit Vista, residents enjoy opulent living with top-of-the-line amenities, such as a fitness center, pickleball courts, a community lounge, an outdoor patio, carports, and more. The community provides a unit mix ranging from studios to two-bedroom apartments, each combining modern design with luxury features like stainless steel appliances, in-unit laundry, and private patios.
Recently stabilized with a 96% occupancy rate, the property benefits from the aging inventory in the surrounding submarket. This presents a unique opportunity to acquire Summit Vista at a discount to replacement cost, with built-in equity as market conditions improve and property values appreciate, making it an exceptional investment opportunity.
INVESTMENT HIGHLIGHTS
• Turnkey Asset With Substantial Upside Potential: Built in 2024 by Brixx Development and recently stabilized, new ownership can enhance revenue streams through increased RUBS implementation, parking, and storage income.
• Meticulous and Modern Design: Offering options from studios to two-bedroom units, Summit Vista features stainless steel appliances, luxury vinyl plank flooring, vaulted ceilings, in-unit washers and dryers, private patios, and either air conditioning or exhaust ports in all units.
• First-Class Community Amenities: The expansive community provides premier amenities, including a fitness center, playground, tennis and pickleball courts, a community lounge with a business center, an outdoor patio with barbecues, package lockers, and carports. These top-tier amenities are a competitive advantage for setting market rents.
• Strong Market Fundamentals: The Bremerton market has seen a 170-basis-point increase in occupancy over the past year, with rent growth (6.6%) significantly outpacing Seattle Metro's average of 2%. Additional upside can be achieved by continually increasing units to market rates by an average of 6%.
• Economic Stability: Bremerton’s economy is bolstered by military jobs, making it less susceptible to market volatility and economic headwinds. Naval Base Kitsap contributes $4.1 billion annually to the local economy and supports over 36,900 direct jobs.
• Limited New Supply: Rental demand is strengthened by the naval shipyard and commuters drawn to the market’s new apartment inventory, offering quick access to major employers in downtown Seattle via a ferry ride. After a period of peak supply, only 58 units are under construction in the South Kitsap submarket.
Located in Port Orchard, Summit Vista is just a short ferry ride away from downtown Seattle and its key employers. The local economy thrives on a diverse array of sectors, including government, tourism, aerospace, and healthcare industries. At Summit Vista, residents enjoy opulent living with top-of-the-line amenities, such as a fitness center, pickleball courts, a community lounge, an outdoor patio, carports, and more. The community provides a unit mix ranging from studios to two-bedroom apartments, each combining modern design with luxury features like stainless steel appliances, in-unit laundry, and private patios.
Recently stabilized with a 96% occupancy rate, the property benefits from the aging inventory in the surrounding submarket. This presents a unique opportunity to acquire Summit Vista at a discount to replacement cost, with built-in equity as market conditions improve and property values appreciate, making it an exceptional investment opportunity.
INVESTMENT HIGHLIGHTS
• Turnkey Asset With Substantial Upside Potential: Built in 2024 by Brixx Development and recently stabilized, new ownership can enhance revenue streams through increased RUBS implementation, parking, and storage income.
• Meticulous and Modern Design: Offering options from studios to two-bedroom units, Summit Vista features stainless steel appliances, luxury vinyl plank flooring, vaulted ceilings, in-unit washers and dryers, private patios, and either air conditioning or exhaust ports in all units.
• First-Class Community Amenities: The expansive community provides premier amenities, including a fitness center, playground, tennis and pickleball courts, a community lounge with a business center, an outdoor patio with barbecues, package lockers, and carports. These top-tier amenities are a competitive advantage for setting market rents.
• Strong Market Fundamentals: The Bremerton market has seen a 170-basis-point increase in occupancy over the past year, with rent growth (6.6%) significantly outpacing Seattle Metro's average of 2%. Additional upside can be achieved by continually increasing units to market rates by an average of 6%.
• Economic Stability: Bremerton’s economy is bolstered by military jobs, making it less susceptible to market volatility and economic headwinds. Naval Base Kitsap contributes $4.1 billion annually to the local economy and supports over 36,900 direct jobs.
• Limited New Supply: Rental demand is strengthened by the naval shipyard and commuters drawn to the market’s new apartment inventory, offering quick access to major employers in downtown Seattle via a ferry ride. After a period of peak supply, only 58 units are under construction in the South Kitsap submarket.
DATA ROOM Cliquez ici pour accéder à
- Offering Memorandum
- Operating and Financials
INFORMATIONS SUR L’IMMEUBLE
| Type de vente | Investissement | Surface du lot | 2,45 ha |
| Nb de lots | 119 | Surface de l’immeuble | 14 102 m² |
| Type de bien | Immeuble residentiel | Nb d’étages | 4 |
| Sous-type de bien | Appartement | Année de construction | 2024 |
| Style d’appartement | De hauteur moyenne | Ratio de stationnement | 0,17/1 000 m² |
| Classe d’immeuble | B |
| Type de vente | Investissement |
| Nb de lots | 119 |
| Type de bien | Immeuble residentiel |
| Sous-type de bien | Appartement |
| Style d’appartement | De hauteur moyenne |
| Classe d’immeuble | B |
| Surface du lot | 2,45 ha |
| Surface de l’immeuble | 14 102 m² |
| Nb d’étages | 4 |
| Année de construction | 2024 |
| Ratio de stationnement | 0,17/1 000 m² |
CARACTÉRISTIQUES
CARACTÉRISTIQUES DU LOT
- Climatisation
- Balcon
- Lave-vaisselle
- Broyeur d’ordures
- Espace d’entreposage
- Machine à laver/sèche-linge
- Cuisine
- Planchers en bois
- Plafond voûté
- Accès internet à haut débit
- Réfrigérateur
- Électroménager en acier inoxydable
- Baignoire/Douche
- Vues
- Moquette
- Salle à manger
- Fenêtres à double vitrage
- Office
- Patio
- Couvre-fenêtres
CARACTÉRISTIQUES DU SITE
- Centre d’affaires
- Club-house
- Centre de fitness
- Aire de jeux
- Grill
- Service d’emballage
LOT INFORMATIONS SUR LA COMBINAISON
| DESCRIPTION | NB DE LOTS | MOY. LOYER/MOIS | m² |
|---|---|---|---|
| Studios | 14 | 1 438 € | 56 |
| 1+1 | 28 | 1 596 € | 61 |
| 2+2 | 77 | 1 847 € | 85 |
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TAXES FONCIÈRES
| Numéro de parcelle | 4598-005-017-03-07 | Évaluation des aménagements | 4 804 229 € |
| Évaluation du terrain | 482 125 € | Évaluation totale | 5 286 354 € |
TAXES FONCIÈRES
Numéro de parcelle
4598-005-017-03-07
Évaluation du terrain
482 125 €
Évaluation des aménagements
4 804 229 €
Évaluation totale
5 286 354 €
CONTACTS
-
Chad Blenz -
Mitchell Belcher -
Steven Chattin -
Jay Timpani -
Brandon Lawler -
Ben Johnson -
David Sorensen -
Berkadia
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Summit Vista | 1410 Wendell Ave SE
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