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Belleme at Normandy Park 18449 1st Ave S 12 Unit Apartment Building $3,184,143 CAD ($265,345 CAD/Unit) Normandy Park, WA 98148

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INVESTMENT HIGHLIGHTS

  • Approximately 75% complete
  • Desirable unit mix: 2 – 2bd, 4 – 3bd and ground floor commercial space
  • Excellent Normandy Park location
  • 6-12 month estimated time to project completion
  • Potential to make the ground floor “live/work” for residential use
  • Attractive modern design that blends with the neighboring townhouse development

EXECUTIVE SUMMARY

Paragon Real Estate Advisors is proud to present the Belleme at Normandy Park, a partially completed mixed-use apartment building located on 1st Ave South in the excellent community of Normandy Park. This project is located in one of the fastest growing suburbs in King County and is well-positioned for success with high rental demand and very little nearby new construction to compete with.
The building has approximately 2,596 square feet of commercial space on the first floor level that has been divided into 6 live-work units offering flexibility. The second and third floors are comprised of 6 large, condo-style residential units with a total of approximately 7,000 rentable square feet. The residential unit layout consists of four - 3BD/2BTH units and two - 2BD/2BTH units that range from 1,006 – 1,200 square feet. The large 13,673 square foot lot also has ample parking, with 18 off-street stalls, two of which are ADA accessible stalls. The flexibility and short timeline to finish a new product makes this a very unique and lucrative opportunity for the future owner.
Belleme at Normandy Park is located on 1st Ave S, one of the main thoroughfares that connects this growing city with nearby Burien and Des Moines. This location is ideal for people who want to be in a more calm, suburban setting, but still close to the city with convenient options for commuters. With Highway 509, 99 and I-5 all within a close proximity, residents can get to where they need to go easily.

PROPERTY FACTS Under Contract

Price $3,184,143 CAD
Price Per Unit $265,345 CAD
Sale Type Investment
No. Units 12
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class B
Lot Size 0.31 AC
Construction Status Under Construction
Building Size 9,596 SF
No. Stories 3
Year Built 2026
Zoning MU - Mixed Use

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
3+2 4 - 1,089 - 1,200
2+2 2 - 1,006
Studios 6 - 262 - 485

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
050200-0200
Land Assessment
$466,013 CAD
Improvements Assessment
$2,337,303 CAD
Total Assessment
$2,803,316 CAD
  • Listing ID: 36581478

  • Date on Market: 2025-07-02

  • Last Updated:

  • Address: 18449 1st Ave S, Normandy Park, WA 98148

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