12037 1st Ave S Seattle, WA 98168

Overview

• Acquired in 2015 through an off-market transaction
• Underperforming asset located in South Seattle with significant value-add potential
• Completed an extensive renovation that fully repositioned the property
• Achieved rapid rent growth, increasing average rents from $800 to $1,200 per month
• 33% rent increase realized in less than 12 months

Financials

• Purchase Price: $4,850,000
• Total Capital Improvements: $890,000
• Sale Price: $11,150,000