Zinnia

JLL, as an exclusive advisor, is pleased to present the outstanding opportunity to acquire a newly constructed, institutional apartment community located in the Seattle MSA’s Shoreline submarket.

Built in 2024, Zinnia (the “Property”) consists of 299 studio, open 1-bedroom, 1-bedroom, 1-bedroom den, and 2-bedroom units. Residents at Zinnia benefit from its host of exceptional community amenities including an expansive rooftop deck with a barbecue area and gathering spaces, resident lounge with co-working spaces, plush seating and entertainment center, fully-equipped fitness center, secure parcel lockers, a bicycle repair station, and storage areas. Zinnia represents the opportunity to acquire an asset at an appealing discount to replacement costs in one of the West Coast’s most coveted markets.

Zinnia affords residents a high-quality suburban lifestyle with convenient access to the region’s major economic drivers at a significant discount to the cost of rental housing in Seattle and the Eastside markets. Situated in a tranquil neighborhood, Zinnia offers a transit-oriented location with residents within walking distance of the recently opened Shoreline South/148th light rail station, providing access to downtown Seattle in less than 20 minutes. Additionally, its strategic position along the I-5 corridor allows residents to reach major employers in Seattle and on the Eastside in under 30-minutes.

Additionally, new ownership will benefit from the Property’s participation in Shoreline’s unique 20-year Multifamily Tax Exemption (MFTE) program. By maintaining 20% of units at affordable levels, the Property qualifies for abated taxes through 2044.