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36 Units- Seattle, WA 5% Cap Rate
Strong Returns along with ease of Maintenance and Management
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Investment Highlights
- Built in 2009- 36 Units
- Minutes to Downtown Seattle and The Seattle/Tacoma Airport
- Strong Returns along with ease of Maintenance and Management
- Unique mix of highly desired 2 bedroom/2 bath units
- Room for increased income on turn over by at least $200 a month per unit.
- The units have open floor plans, full sized washer / dryers
- Secured intercom entry, sprinkled interior corridors, a parking area for 57 vehicles
- Up and coming location appealing to the current generation of renters
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The strategy behind the building’s construction was to minimize all ongoing maintenance to the property owner. Maintenance minimizing features include pitched composition roofs, properly flashed dual pane windows, properly waterproofed vinyl siding, and the choice to provide residents large living areas, but no exterior decks. Other exterior building amenities include a secured intercom entry, sprinkled interior corridors, a parking area for 57 vehicles, and bicycle parking. Inside, Centerwood offers a unique unit mix of 2 Bedroom corner units, featuring bright natural light, a stylish design, and nearly all with 1.75 Baths. New two bedrooms are rare in Seattle with most new apartment developments being primarily studios or one bedrooms, some as small as 160 square feet. The units have open floor plans, full sized washer / dryers, and black appliance packages with dishwasher, refrigerator, and stove. In addition, hard surface wood-look flooring covers the living, dining, and kitchen areas. The kitchens also feature a pantry, closet, and ample counter space. The in-unit laundry facility is also located in its own room.
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