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Vivir 1201 S Cloverdale St 20 Unité Immeuble d’appartements 4 977 000 $ CAD (248 850 $ CAD/Unité) 6,39% Taux de capitalisation Seattle, WA 98108
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FAITS SAILLANTS DE L'INVESTISSEMENT
- Immediate Value-Add Opportunity
- Quality Amenities Drive Tenant Retention
- Major Hub for Air Travel and Employment
- Proven Rent Growth Strategy
- Strong Submarket Fundamentals
- Supply-Constrained Market Supports Stability
RÉSUMÉ DE L'ANNONCE
Introducing Vivir at 1201 S Cloverdale St, Seattle, WA, a partially renovated asset in a prime location with a proven value-add strategy. With 15 fully renovated units already achieving market-rate rents, this 20-unit property offers a 6.39% market cap rate and clear upside potential. An additional three units are partially renovated, and two units are ready for upgrades, providing straightforward opportunities for new ownership to increase revenue. Featuring a mix of studio, one-bedroom, and two-bedroom units with modern finishes like luxury vinyl plank flooring and hard surface countertops, Vivir's renovations have been well-received by tenants, driving strong retention rates. With a strategic location just 6 miles from downtown Seattle and close proximity to major employers in the technology and healthcare sectors, this investment is primed for success. Don't miss the chance to capitalize on this value-add opportunity in the sought-after Seattle market.
- Vivir offers a compelling repositioning play across 20 units - 15 fully upgraded and generating market rents, three partially completed, and two ready for improvement; the property maintains 100% occupancy while delivering a solid 6.39% market cap rate with clear upside.
- New ownership can immediately enhance returns by streamlining operations to reduce economic loss, while completing the remaining unit upgrades position the property to capture an 8% premium over current in-place rents.
- The property features on-site laundry with an app-based payment system, central courtyard, off-street parking, and renovated units with luxury vinyl plank (LVP) flooring, hard surface countertops, modern fixtures, and new appliances.
- The West Seattle/South Seattle submarket has experienced a 15.8% increase in asking rents since 2021, indicating strong rental growth potential.
- Located just six miles from Seattle-Tacoma International Airport, and less than five miles from King County International Airport, Vivir provides access to 193,629 jobs while generating more than $36 billion in business output combined between the two airports, bolstering the area's economic vitality.
- Vivir Apartments sits within easy reach of Seattle's world-class healthcare institutions, anchored by Swedish Medical Center, Virginia Mason Medical Center, and Harborview Medical Center, employing over 15,000 healthcare professionals.
- Supply-Constrained Market Supports Stability: Zero new units are scheduled for delivery in Q4 2025 in the West Seattle/South Seattle submarket, creating a favorable supply-demand dynamic that protects occupancy and supports continued rent growth.
- Vivir offers a compelling repositioning play across 20 units - 15 fully upgraded and generating market rents, three partially completed, and two ready for improvement; the property maintains 100% occupancy while delivering a solid 6.39% market cap rate with clear upside.
- New ownership can immediately enhance returns by streamlining operations to reduce economic loss, while completing the remaining unit upgrades position the property to capture an 8% premium over current in-place rents.
- The property features on-site laundry with an app-based payment system, central courtyard, off-street parking, and renovated units with luxury vinyl plank (LVP) flooring, hard surface countertops, modern fixtures, and new appliances.
- The West Seattle/South Seattle submarket has experienced a 15.8% increase in asking rents since 2021, indicating strong rental growth potential.
- Located just six miles from Seattle-Tacoma International Airport, and less than five miles from King County International Airport, Vivir provides access to 193,629 jobs while generating more than $36 billion in business output combined between the two airports, bolstering the area's economic vitality.
- Vivir Apartments sits within easy reach of Seattle's world-class healthcare institutions, anchored by Swedish Medical Center, Virginia Mason Medical Center, and Harborview Medical Center, employing over 15,000 healthcare professionals.
- Supply-Constrained Market Supports Stability: Zero new units are scheduled for delivery in Q4 2025 in the West Seattle/South Seattle submarket, creating a favorable supply-demand dynamic that protects occupancy and supports continued rent growth.
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FAITS SUR LA PROPRIÉTÉ
| Prix | 4 977 000 $ CAD | Classe d’immeuble | C |
| Prix par unité | 248 850 $ CAD | Taille du lot | 0,28 AC |
| Type de vente | Investissement | Taille du bâtiment | 11 355 pi² |
| Taux de capitalisation | 6,39% | Occupation moyenne | 100% |
| Nombre d’unités | 20 | Nombre d’étages | 2 |
| Type de propriété | Immeuble residentiel | Année de construction | 1957 |
| Sous-type de propriété | Appartement | Ratio de stationnement | 0,88/1 000 pi² |
| Style d’appartement | De faible hauteur | ||
| Zonage | RSL (M) | ||
| Prix | 4 977 000 $ CAD |
| Prix par unité | 248 850 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 6,39% |
| Nombre d’unités | 20 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 0,28 AC |
| Taille du bâtiment | 11 355 pi² |
| Occupation moyenne | 100% |
| Nombre d’étages | 2 |
| Année de construction | 1957 |
| Ratio de stationnement | 0,88/1 000 pi² |
| Zonage | RSL (M) |
COMMODITÉS
COMMODITÉS DES UNITÉS
- Lave-vaisselle
- Chauffage
- Cuisine
- Planchers de bois franc
- Réfrigérateur
- Électroménagers en acier inoxydable
- Coin déjeuner
COMMODITÉS DU SITE
- Cour
- Installations de lessive
UNITÉ RENSEIGNEMENTS SUR LE MÉLANGE
| DESCRIPTION | NOMBRE D’UNITÉS | LOYER MOYEN/MOIS | pi² |
|---|---|---|---|
| Studios | 1 | - | 400 |
| 1+1 | 15 | - | 525 |
| 2+2 | 4 | - | 770 |
Walk Score®
Très pratique à pied (74)
Impôts fonciers
| Numéro de lot | 788360-7705 | Évaluation des bâtiments | 4 525 573 $ CAD |
| Évaluation du terrain | 586 286 $ CAD | Évaluation totale | 5 111 859 $ CAD |
Impôts fonciers
Numéro de lot
788360-7705
Évaluation du terrain
586 286 $ CAD
Évaluation des bâtiments
4 525 573 $ CAD
Évaluation totale
5 111 859 $ CAD
CONTACTS
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Chad Blenz -
Mitchell Belcher -
Steven Chattin -
Jay Timpani -
Brandon Lawler -
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Vivir | 1201 S Cloverdale St
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