Allview presents investors with the unique opportunity to add value in multiple ways—both short term and long term.
Current rental rates are well below market, and new property management would be the easiest way to add considerable value. Upgrading the two remaining classic units, and transforming the two under-utilized storage areas into residential units, will further maximize the building’s value.
When Allview is firing on all cylinders, the savvy investor may then turn their focus toward potential development options, using the cash flow to help offset development and permitting costs.
Wallingford’s unique character stems from its development as a “Streetcar Suburb” in the 1920s. Bookended by Green Lake and Gas Works Park, the family-friendly neighborhood is primarily residential in nature, with North 45th Street serving as the heart of commercial activity.
Easy access to the necessities—grocery stores, banks, and pharmacies—is complemented by an abundance of local restaurants, taverns, and specialty shops that truly make Wallingford an attractive urban destination.
Easy pedestrian access across I-5 also connects residents to the thriving University District. Six minutes by bike or 12 minutes on foot takes you to the bustling “Ave” along University Way Northeast at the edge of the UW campus.
Unmatched proximity to I-5, SR 520, prime bus routes, and the forthcoming U District light rail station also ensures quick commutes to employment centers around the Puget Sound.
Colliers International WA LLC is the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Matt Laird are exclusively representing the Seller in the sale of the Allview Apartments.