Map pin11844 26th Ave S, Seattle, WA, 98168-5208, US

Whisperwood Apartments

Whisperwood Apartments_Property for Sale

Attributes

Number of units
126 units
Occupancy
92%
Year built
1967
Building area gross
11,378 m²

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale Whisperwood Apartments, a 126-unit LIHTC Property in the Seattle MSA. Conveniently located in Burien, residents have direct access to Downtown Seattle and the submarket’s major employers, including SeaTac Airport (10-minute drive) and Boeing’s Development Center (5-minute drive). The Property has achieved over 17% lease rent growth in the past 12 months and year-to-date collections exceed 95%. Investors will benefit from further revenue growth as rents can be increased to the LIHTC max and the spread to prevailing market-rate rents will drive long-term demand and consistent cash flow at the Property.

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Investment Highlights

  • Robust Max Rent Growth & Leasing Momentum
  • Sizable Spread to Market Rate Rents Driving Demand
  • Connectivity to Major Employers
  • Premium Seattle Metro
  • Affordable Housing Preservation Opportunity
  • Potential Water and Sewer Expense Reductions
Whisperwood Apartments 4_Property for Sale
Whisperwood Apartments 4_Property for Sale
Whisperwood Apartments (0 Properties)

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Last updated
2 Apr 2024