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
• 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
• Achieved $4.00/SF on studios and $3.60/SF on one-bedroom units during initial lease-up

Financials:

• Sale Price: $11,000,000
• Per Unit Value: $229,000/unit
• Square Footage Value: $763/sf
• Investor return on original equity: 54%