Tower 801

JLL, as exclusive advisor, is pleased to present the outstanding opportunity to acquire Tower 801 (the “Property”), a high-rise apartment community in the heart of Seattle, Washington. Built in 1971, Tower 801 features 173 studio, 1-bedroom, 2-bedroom, 3-bedroom, and penthouse units, along with exceptional community amenities and 2,976 square feet of 100% leased retail space.

Tower 801 represents a compelling value-add opportunity. Previous ownership renovated 135 units, leaving significant upside for a buyer to realize substantial rent premiums through JLL-recommended enhancements to existing renovations and full renovations of the remaining classic units. An increasingly prosperous and renter-centric downtown demographic supports continuation of the current value-add program, positioning a new owner for significant revenue growth.

The Property presents a rare acquisition opportunity to acquire a high-rise in one of the West Coast’s most coveted submarkets at a significant discount to new construction costs—a compelling value proposition given the nearly 40% surge in Seattle MSA construction costs since 2020 and the increasing scarcity of development land.

Strategically positioned within walking distance of downtown Seattle’s 343K employees and minutes from South Lake Union’s innovation ecosystem, including Amazon’s world headquarters with 49K employees. The Property benefits from Amazon’s January 2025 five-day return-to-office mandate, which has driven South Lake Union worker foot traffic to 92.3% of 2019 levels. Residents also enjoy proximity to major employers including Microsoft, Google, Meta, Apple, Fred Hutch, and UW Medicine.

Offering convenient access to the Eastside’s largest employment drivers, including Microsoft’s Redmond headquarters, Amazon’s expanding Bellevue campus, Meta’s Reality Labs facilities, along with expanding AI companies. Tower 801 affords residents the opportunity to live in the lively Seattle atmosphere with immediate access to exceptional retail and entertainment while maintaining a quick commute to growing employers on the Eastside.

Tower 801 provides residents with exceptional connectivity through multiple transportation options. The Property is minutes from Interstate-5, State Route 99, and State Route 520, enabling quick vehicle access throughout the region. Public transit options include the nearby Westlake Light Rail Station with 11,000+ daily riders, the South Lake Union Streetcar, and the Seattle Center Monorail. The East Link light rail extension, opened in March 2026, will connect Seattle to the Eastside via the first-ever light rail built on a floating bridge, providing seamless access to Bellevue and Redmond employment centers. With Walk and Transit Scores of 99 and 100 respectively, residents can easily navigate Seattle and the Eastside’s urban core.