12037 1st Ave S Seattle, WA 98168

• Purchase Price(9/2015): $4,850,000
• Total Capital Improvements: $890,000
• Sale Price: $11,150,000

Acquired through an off-market transaction in 2015, this underperforming South Seattle asset was repositioned through an extensive renovation that unlocked its value-add potential. The strategy delivered rapid rent growth, increasing average rents from $800 to $1,200 per month—a 33% increase achieved in less than 12 months.