
The Jax
12222 Vance Jackson Rd, San Antonio, TX, 78230-5936, US
322 units
JLL, as an exclusive advisor, is pleased to present the outstanding opportunity to acquire Arterra Apartments, (the “Property”, “Subject”, or “Arterra”) an 81-unit garden-style apartment community in Kent, WA. The Property’s spacious townhome-style floor plans boast some of the largest average unit sizes in the Kent submarket and present a strong alternative to homeownership for families.
Built in 1990, Arterra consists of 81 two-bedroom and three-bedroom units spread across nearly 5 acres and 14 buildings. Arterra presents an outstanding opportunity for rental upside, with 74% of units renovated to the current owner’s scope to date, allowing a buyer to generate significant rent premiums by implementing JLL-recommended enhancements to existing renovations and fully transforming the remaining classic units.
The Property offers a compelling alternative to homeownership in the Kent submarket, with spacious, townhome-style units priced, on average, at a 45% discount compared to purchasing a comparable 3-bedroom-or-less home, where a 20% down payment demands a substantial $120K. Furthermore, as local home values within a 1-mile radius of Arterra are projected to rise 31% between 2025 and 2030, demand for single-family home alternatives, such as Arterra, is only expected to increase. This dynamic is evidenced by a loyal resident base, with an average tenant duration of 3 years, highlighting the Property’s stability and long-term appeal.
Arterra’s prime location, just 5-minutes from Kent Station and Kent/James Street Park & Ride, provides residents with exceptional access to the Puget Sound region’s key employment hubs, including the Kent Valley Industrial Corridor—home to over 12K companies and a leader in aerospace, manufacturing, and logistics—and downtown Seattle’s tech and corporate centers. The upcoming completion of the Angle Lake-Federal Way light rail extension by late 2025, with the Kent/Des Moines station only 15 minutes away, will further enhance connectivity to these employment centers.