Burien 8 423 SW 155th St 8 Unit Apartment Building $2,048,701 CAD ($256,088 CAD/Unit) 5.42% Cap Rate Seattle, WA 98166

Paragon Real Estate Advisors and Windemere Real Estate is pleased to present Burien 8, an eight-unit apartment community located in the heart of Burien, Washington. Burien 8 offers investors the opportunity to acquire a well-maintained apartment property in a highly desirable, walkable location with immediate income upside and additional long-term value-add potential. New ownership can capitalize on a strong and rising rental market through near-term lease-up and rent optimization, while retaining the optionality to further enhance returns through a light renovation or repositioning strategy.
Built in 2009, the property benefits from modern construction standards and a low-maintenance ownership profile. With a 94 Walk Score, Burien 8 provides tenants immediate access to restaurants, shopping, grocers, nightlife, and public transit, making it a highly attractive place to live within the South King County submarket. Strong rental trends in the area reflect increasing demand driven by both the quality of the asset and its prime, walkable location near major employment centers.
Burien 8 consists of four one-bedroom, one-bathroom units and four two-bedroom, one-bathroom units, each featuring functional and efficient layouts designed to meet today’s renter preferences. Two units will be delivered vacant, allowing a new owner to immediately lease at market rents and capture near-term income growth. In addition, a recently executed lease has been signed at pro-forma rent levels, providing clear validation of achievable market rents and supporting forward-looking income assumptions.
Given its 2009 construction, Burien 8 features updated systems throughout, resulting in reduced near-term capital expenditure requirements and long-term operational stability. All major building components have been well maintained, and the newer construction profile meaningfully differentiates the asset from older vintage properties commonly found in the submarket. Offered at $1,475,000, or $184,375 per unit, Burien 8 represents a compelling entry point for a newer-construction asset in Burien, positioning the property as an attractive opportunity for investors seeking durable cash flow, immediate income upside, and long-term hold appeal.