Nordic Flats

NORDIC FLATS

Now 7 months into the project, exterior painting, lighting, paving, landscaping, and signage have all been completed. The curb appeal is nearly complete, now reminding passerbys of a newer construction building. Looking to the interior, 6 out of 15 units have been completely renovated with top to bottom new finishes, appliances, plumbing, and electrical. Tenants that step in these units will have an indistinguishable experience from that of a brand new class A apartments. Evidence to this notion can be seen in the new rents, which are out pacing top end pro-forma rents by 15% This asset utilizes state-of-the-art property management software, with its new tenants being able to pay bills, file work orders, and get community updates right to a central app on their phones.

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MARKET Seattle
APN # 344800-1425
# OF BUILDINGS 1
STORIES 3
NET RENTABLE 12,110 Sq. Ft. ( Per King County)
CONSTRUCTION Wood Frame
ROOF Flat Torch Down
HEAT Electric Wall Heater
LAUNDRY Common
PARKING 3 Covered, 12 Open
UNITS 15
BUILT 1968
PRICE $3,270,000
PRICE PER UNIT $218,000
PRICE PER SQ. FT. $270
CURRENT GRM/CAP 15.8/4.0%
MARKET GRM/CAP 11.9/4.0%
LOT SIZE 11,200 Sq.Ft (LR3 Zoning)

BEFORE

AFTER

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