Estada Apartments

JLL, as exclusive advisor, is pleased to present the outstanding opportunity to acquire Estada, an apartment community located in the Seattle MSA near the shores of Lake Washington.

Built in 1967, Estada Apartments (the “Property” or “Subject”) is a 22-unit mid-rise apartment community located in the high-growth submarket of Lake City, and proximate to a host of the largest employers in the region. The Property consists of six one-bedroom units, eight two-bedroom one-bathroom units, four two-bedroom two-bathroom units, and a large 1,600 square foot four-bedroom four-bathroom unit that operates as four micro studios with a shared kitchen and living room. The property has undergone significant capital improvements in the last 15 years including a new roof (2011), electrical panels (2010), vinyl windows (2008), and updates to the unit interiors (2008/2009).

New ownership stands to benefit from the Property’s proximity to the recently opened Shoreline South light rail station and a Stride 3 bus station, opening in 2026, as well as the new Northgate light rail station. This enhanced accessibility augments Lake City’s access to key technology employers that are thriving in Seattle and the Eastside. The Property is located at the heart of a burgeoning retail corridor with over one million square feet of retail and entertainment within a one-mile radius, affording residents a modern urban lifestyle at a significant discount to the cost of rental housing in Seattle’s core markets.