Investment Overview

This well positioned, modernized asset presents an excellent opportunity for an investor seeking a stabilized community with upside continuing to renovate units and improving operations. Once completed, a new owner can achieve meaningful rent growth and operational efficiencies, resulting in increased cash flow and long-term value appreciation. Given its location in Auburn—benefiting from strong commuter connectivity and a growing renter base driven by affordability constraints relative to nearby employment centers, Lobdell is well positioned to capture continued demand. Investors will benefit from a lower basis compared to comparable assets in Seattle, while still maintaining exposure to the region’s robust economic fundamentals. Overall, the offering provides a compelling combination of in-place income, value-add potential, and long-term upside in one of South King County’s most accessible and steadily growing submarkets.