Beaumont Apartments, located in Woodenville in Seattle's east side, is a rare 344-unit rehab to core opportunity.
With potential to renovate 100% of its units, expand community amenities, and generate significant premiums.
Built in 2009, with nine-foot ceilings, it is a four-story mid-rise construction over structured parking, the only apartment property over structured parking in Woodenville.
Woodenville offers a rich lifestyle of over 100 wineries, tasting rooms, and microboos, with easy access to recreation and lifestyle, like skiing, hiking, golf, summer outdoor movies and concerts, also within one mile of Bert Gilman biking, walking, hiking trail.
Outstanding schools ranks eighth out of 322 districts in Washington state. Beaumont is within half mile of downtown Woodenville, featuring shopping, Hagan's grocery, Target, restaurants, and AMC theaters.
Walk to parks with convenient access to biking, sports fields, schools, and just three miles to the UW Bothell campus.
Within a half mile is the Woodenville park and ride, and within three minutes is I-405 via SR-522.
Connecting residents to over 700,000 jobs in Bellevue, Redmond, Bothell, Kirkland, and Seattle.
An additional 15,000 jobs are expected to come to the east side as a result of over 3 million square feet of office construction.
Incomes of $116,000 in the immediate area and higher median of $130,000 within a three mile radius.
Home prices range from $700,000 to $3 million. Currently, average home prices on the east side have reached $800,000, exceeding Seattle prices.
As the fastest growing city in the nation, Seattle also deemed the second Silicon Valley has contributed to the region's booming economy and rapid employment growth in technology and engineering.
2012 to 2016 introduced 220,000 jobs while the population grew by 240,000.
Major employers include Microsoft, Google, Boeing, AT&T, Expedia, Amazon, and T-Mobile.
Woodenville is a high-growth sub-market, rent-screw 11.5% in 2016, and are projected to rise 7.2% in 2017, with a limited pipeline of 338 units being delivered through 2020.
Beaumont, a truly unique value-add community located in the heart of the Pacific Northwest wine country.
