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The Wedgewood Apartments 7320 35th Ave NE Immeuble residentiel 21 lots 4 735 830 € (225 516 €/Lot) Taux de capitalisation 5,88 % Seattle, WA 98115
Certaines informations ont été traduites automatiquement.
Informations principales sur l'investissement
- Attractive Unit Mix with Proven Renovation Premium
- Strong Operations in an Excellent Location
- Commercial Income and Additional Exit Optionality
- Value-Add Opportunity with Rent Growth Potential
- Well-Maintained with Recent Capital Improvements
- Strong Renter Demographics in a Supply-Constrained Market
Résumé analytique
Wedgewood Apartments is a 21-unit mixed-use investment opportunity in Northeast Seattle between Wedgwood and the University District. The property presents the opportunity for investors to acquire a well-located, mostly renovated asset with strong in-place occupancy, proven operational performance, and additional upside through finalizing unit renovations and capitalizing on rent growth.
Built in 1968, the property features a unit mix of 2 urban one-bedroom units, 10 one-bedroom/one-bath units, and 8 two-bedroom/one-bath units, with an average unit size of approximately 579 square feet. The property has benefited from strategic recent improvements, including a new roof, exterior paint, resealed and restriped parking lot, and deck renovations. To date, 13 of the 20 units have been renovated and feature LVP flooring, stainless steel appliances, updated lighting, renovated bathrooms, and in-unit washer/dryers.
Wedgewood Apartment is currently 100% occupied with zero delinquency, indicating strong demand and creating a clear path to complete the renovation program and capture additional upside. Additionally, current rents sit 10% below average market rates. With an additional 12% premium achievable through renovations, there is an estimated 22% growth potential here for investors to capture.
The property is ideally situated in an amenity-rich location, offering residents convenient access to the University of Washington, SR-520, I-5, and Magnuson Park. Walkable neighborhood amenities include Safeway, Starbucks, Orangetheory Fitness, and a variety of dining options.
In addition to the previously mentioned upside, Wedgewood Apartments includes an established long-term commercial tenant that has occupied the space over 15 years, with an additional three years remaining on the current lease. Combined with limited new supply and strong submarket fundamentals, Wedgewood Apartments offers investors an incredible opportunity to acquire a stable asset with both current income and future upside.
Built in 1968, the property features a unit mix of 2 urban one-bedroom units, 10 one-bedroom/one-bath units, and 8 two-bedroom/one-bath units, with an average unit size of approximately 579 square feet. The property has benefited from strategic recent improvements, including a new roof, exterior paint, resealed and restriped parking lot, and deck renovations. To date, 13 of the 20 units have been renovated and feature LVP flooring, stainless steel appliances, updated lighting, renovated bathrooms, and in-unit washer/dryers.
Wedgewood Apartment is currently 100% occupied with zero delinquency, indicating strong demand and creating a clear path to complete the renovation program and capture additional upside. Additionally, current rents sit 10% below average market rates. With an additional 12% premium achievable through renovations, there is an estimated 22% growth potential here for investors to capture.
The property is ideally situated in an amenity-rich location, offering residents convenient access to the University of Washington, SR-520, I-5, and Magnuson Park. Walkable neighborhood amenities include Safeway, Starbucks, Orangetheory Fitness, and a variety of dining options.
In addition to the previously mentioned upside, Wedgewood Apartments includes an established long-term commercial tenant that has occupied the space over 15 years, with an additional three years remaining on the current lease. Combined with limited new supply and strong submarket fundamentals, Wedgewood Apartments offers investors an incredible opportunity to acquire a stable asset with both current income and future upside.
Data room Cliquez ici pour accéder à
- Offering Memorandum
- Operating and Financials
Informations sur l’immeuble
| Prix | 4 735 830 € | Classe d’immeuble | C |
| Prix par lot | 225 516 € | Surface du lot | 0,33 ha |
| Type de vente | Investissement | Surface de l’immeuble | 1 035 m² |
| Taux de capitalisation | 5,88 % | Occupation moyenne | 100% |
| Nb de lots | 21 | Nb d’étages | 1 |
| Type de bien | Immeuble residentiel | Année de construction | 1968 |
| Sous-type de bien | Appartement | Ratio de stationnement | 0,26/1 000 m² |
| Style d’appartement | Avec jardin | ||
| Zonage | L2, King | ||
| Prix | 4 735 830 € |
| Prix par lot | 225 516 € |
| Type de vente | Investissement |
| Taux de capitalisation | 5,88 % |
| Nb de lots | 21 |
| Type de bien | Immeuble residentiel |
| Sous-type de bien | Appartement |
| Style d’appartement | Avec jardin |
| Classe d’immeuble | C |
| Surface du lot | 0,33 ha |
| Surface de l’immeuble | 1 035 m² |
| Occupation moyenne | 100% |
| Nb d’étages | 1 |
| Année de construction | 1968 |
| Ratio de stationnement | 0,26/1 000 m² |
| Zonage | L2, King |
Caractéristiques
Caractéristiques du lot
- Chauffage
- Cuisine
- Réfrigérateur
- Four
- Baignoire/Douche
Caractéristiques du site
- Accès 24 h/24
- CVC contrôlé par l’occupant
- Transports en commun
- Détecteur de fumée
Lot informations sur la combinaison
| Description | Nb de lots | Moy. loyer/mois | m² |
|---|---|---|---|
| Studios | 2 | - | 51 |
| 1+1 | 10 | - | 42 |
| 2+1 | 8 | - | 65 |
1 1
Moyennement praticable à pied
70/100
Moyennement adapté aux voitures
70/100
Bons transports en commun
60/100
Moyennement praticable en vélo
60/100
Taxes foncières
| Numéro de parcelle | 797420-0041 | Évaluation des aménagements | 861 € |
| Évaluation du terrain | 4 408 111 € | Évaluation totale | 4 408 972 € |
Taxes foncières
Numéro de parcelle
797420-0041
Évaluation du terrain
4 408 111 €
Évaluation des aménagements
861 €
Évaluation totale
4 408 972 €
Contacts
-
Chad Blenz -
Mitchell Belcher -
Steven Chattin -
Jay Timpani -
Brandon Lawler -
Berkadia
1 sur 21
Vidéos
Visite extérieure 3D Matterport
Visite 3D
Photos
Street view
Rue
Carte
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Présenté par
The Wedgewood Apartments | 7320 35th Ave NE
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