Investment Overview

Marcus & Millichap is pleased to present Sandpoint Way Apartments, a well-maintained multifamily community located at 12340 Sandpoint Way NE in Seattle, Washington. The property features a diverse mix of one-, two-, and three-bedroom apartment homes averaging approximately 821 square feet, providing broad appeal to professionals, families, students, and healthcare workers. The larger average unit sizes compare favorably to many newer apartment developments and contribute to strong tenant retention and leasing performance. A defining feature of the community is the premium Lake Washington view enjoyed by many residents, supporting rental premiums and enhancing leasing velocity. Moreover, the property’s rare location within the Sandpoint neighborhood is approximately one-half mile from the Burke-Gilman Trail and less than two miles from Matthews Beach Park—Seattle’s largest freshwater swimming beach. Ownership has completed several significant capital improvements, substantially reducing near-term capital expenditure requirements. Improvements include a roof replacement completed within the last six years, Cutler-Hammer electrical panels, and primarily copper plumbing throughout the property, providing investors with confidence in the property's physical condition and operational stability. Sandpoint Way Apartments is strategically located near several of Seattle’s largest employment and institutional drivers, including the University of Washington, Seattle Children’s Hospital, and the rapidly growing Magnuson Park corridor. These demand generators create a consistent pool of renters seeking housing within close proximity to employment, education, healthcare, and recreational opportunities. The combination of premium views, recent capital improvements, and strong Northeast Seattle fundamentals positions Sandpoint Way Apartments as a compelling multifamily investment opportunity in one of the Pacific Northwest’s most desirable residential markets.