Core-plus Investment in the heart of Pike/Pine Corridor

Classic units ripe for full renovation, and further upside by adding new washer/dryer in all units then repurposing the common laundry into rentable square footage or amenity space

Transfer Development Rights to lower your basis

Surplus FAR is sellable or transferrable to nearby development projects, potentially worth seven-figures

Acquire Surrounding Parcels

Increasing the total development site will increase economies of scale and provide an opportunity to develop an institutional sized project

Immediately adjacent to Seattle’s Central Business District

99 Walk Score, a Walker’s Paradise, and home to 268,000+ jobs at a myriad of companies including Amazon, Apple, Google, Facebook, and Redfin

Zoning permits short-term rentals

NC3P-75 (M) allows for short-term rentals in this coveted location, potential to master lease to an experience operator or rent out furnished at a premium over conventional leases

Rent Growth in Capitol Hill

Rents are up 13% year-over-year on average and projected to rise 8% further in 2022 per Green Street

Supply Constrained Submarket

New construction projects at a 5 year low for the submarket, portends further rent growth

Character & Charm in a Capitol Hill classic brick building

Timeless appeal to broad spectrum of tenants seeking location but not typical new construction offerings in the area

Numerous modes of Public Transportation easily accessible in short distance

Light rail, bus, Microsoft’s shuttle service, and streetcar all within ¼ mile