Skip to main content

Multifamily

Sunwood

320 SW 160th St, Burien, WA 98166

Listing Price: $7,000,000

Cap Rate
4.17%
Number of Units
25
Occupancy
97.0%
Price/Unit
$280,000
Price/Gross SF
$186.47
Gross SF
37,539

Investment Overview

The Sunwood Apartments is a fully renovated 25-unit building located Burien, Washington. Originally built in 1966, it was extensively renovated in 2016, offering the new owner an ideal low-risk investment opportunity in a growing market. Sunwood has a desirable unit mix with 19 large two-bedroom and 6 large three-bedroom floor plans with fully renovated interiors. The building exterior has been painted, and new double-pane windows and sliders were installed. Tenants enjoy in-unit washers and dryers, updated kitchens with new appliances, granite countertops, modern cabinets, LED lighting, and vinyl plank flooring throughout. Property amenities include on-site parking, elevator, dog run, and large storage closets. The properly sits on a large 28,480 square-foot lot zoned for office, creating the potential for redevelopment as a medical office expansion with the growing Highline Hospital across the street and medical centers in the area. Boosting an impressive Walk Score of 84, tenants are within walking distance to numerous restaurants, retail, and recreational offerings. A bus stop for the 631 line is located in front of the building providing tenants with direct access to downtown Burien and the greater Seattle metro area. As the majority of newly constructed apartments in the area offer smaller floor plans, tenants are drawn to Sunwood's expansive floor plans and multi-bedroom units. The property is well positioned to continue capturing a quality pool of tenants seeking affordable, yet quality and spacious units in a well-located area.

Investment Highlights

  • Fully renovated in 2016 including washer and dryer in every unit.
  • Unit mix is large two and three bedroom units.
  • WalkScore of 84.

Exclusively Listed By

Multifamily

Sunwood

Listing Price: $7,000,000

Cap Rate
4.17%
Number of Units
25
Occupancy
97.0%
Price/Unit
$280,000
Price/Gross SF
$186.47
Gross SF
37,539

Investment Highlights

  • Fully renovated in 2016 including washer and dryer in every unit.
  • Unit mix is large two and three bedroom units.
  • WalkScore of 84.

Investment Overview

The Sunwood Apartments is a fully renovated 25-unit building located Burien, Washington. Originally built in 1966, it was extensively renovated in 2016, offering the new owner an ideal low-risk investment opportunity in a growing market. Sunwood has a desirable unit mix with 19 large two-bedroom and 6 large three-bedroom floor plans with fully renovated interiors. The building exterior has been painted, and new double-pane windows and sliders were installed. Tenants enjoy in-unit washers and dryers, updated kitchens with new appliances, granite countertops, modern cabinets, LED lighting, and vinyl plank flooring throughout. Property amenities include on-site parking, elevator, dog run, and large storage closets. The properly sits on a large 28,480 square-foot lot zoned for office, creating the potential for redevelopment as a medical office expansion with the growing Highline Hospital across the street and medical centers in the area. Boosting an impressive Walk Score of 84, tenants are within walking distance to numerous restaurants, retail, and recreational offerings. A bus stop for the 631 line is located in front of the building providing tenants with direct access to downtown Burien and the greater Seattle metro area. As the majority of newly constructed apartments in the area offer smaller floor plans, tenants are drawn to Sunwood's expansive floor plans and multi-bedroom units. The property is well positioned to continue capturing a quality pool of tenants seeking affordable, yet quality and spacious units in a well-located area.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower