Investment Overview

Sunset Plaza is located in charming Sunset Hill, known for its views of the Puget Sound and Olympic Mountains. Originally constructed in 1957, Sunset Plaza has been carefully and well maintained and presents investors an opportunity to further enhance the community. Comprised of seven 779SF two-bedroom one bath, two 1,070SF two bedroom one bath and one 2,130 three bedroom two and a half bath unit the property offers a great range of living spaces that have strong historical occupancy. Sunset Hill is a quiet, residential pocket nestled within the larger Ballard neighborhood of Seattle, known for its stunning views of Puget Sound, the Olympic Mountains, and breathtaking sunsets that give the area its name. Characterized by tree-lined streets, charming single-family homes, and a strong sense of community, Sunset Hill offers a peaceful, scenic setting just minutes from the vibrant shops, restaurants, and breweries of central Ballard. With close proximity to Golden Gardens Park, the Burke-Gilman Trail, and waterfront access. Sunset Plaza has been exceptionally maintained including a combination of replaced plumbing in the last 2 years, a central courtyard, renovations to 3 of 10 units. The interior of the units offer spacious layouts, with the three-bedroom unit having washer/dryer in unit. Incoming investors have the opportunity to enhance the interiors of the units to achieve a 17% average increase in rent across the community and stabilize at a 6.50% cash on cash return. Sunset Plaza also resides on an oversized 8,222 square foot lot zoned NC1-40 (M) presenting future development potential at the steps of Golden Gardens Park.