Overlook at Magnolia

JLL, as an exclusive advisor, is pleased to present the rare opportunity to acquire a blank-slate, value-add apartment community in one of Seattle’s most desirable residential neighborhoods.

As the only 100+ unit apartment complex in Magnolia, Overlook at Magnolia (the “Property”) is comprised of 337 ultra spacious units with stunning views. 

Overlook at Magnolia offers an excellent opportunity for new investors to realize significant rent premiums through the implementation of a comprehensive luxury-grade interior renovation program along with improvements to both common areas and amenities. Given the lack of luxury apartment communities and the high home prices in Magnolia, the Property is ideally positioned to take advantage of a full renovation.

Additionally, the Property has been institutionally owned and maintained by the same owner for the last 20 years.

The Property’s location at the top of the hill in Seattle’s affluent Magnolia neighborhood offers a rare combination of natural beauty, upscale living, and strategic location relative to major employers. Magnolia offers the convenience of a close-in urban neighborhood while also combining unique residential charm, low crime rates, top-rated schools, a walkable commercial district, and the City’s largest park. The Property is also a quick, under 15-minute commute to both downtown Seattle and South Lake Union – the epicenter of Seattle’s job engine. Due to its location in a high-end residential enclave and proximity to South Lake Union and downtown, the Property attracts a demographic profile that is young, affluent, educated, and has a high propensity to rent.