1731 NW 57th St Seattle , WA 98107

Overview:

• Prime location in Seattle’s Ballard neighborhood
• 48-unit community featuring modern studios and one-bedroom apartments
• Walk Score of 98%, steps from cafes, restaurants, and boutique retail
• Strong leasing demand despite an oversupplied market
• Built on budget with disciplined construction management
• Acquired original structure at favorable pricing, resulting in a competitive all-in cost basis

Financials:

• Sale Price: $11,000,000
• $229,000 per unit
• $763 per square foot
• Achieved $4.00/SF on studios and $3.60/SF on one-bedroom units during initial lease-up
• Investors realized a 54% return on original equity