Killarney offers investors a tremendous, two-tiered value-add opportunity. Rent growth of 29% over in-place operations is possible after implementation of a value-add program, with further opportunity to generate 37% rent growth by adding bedrooms to large and extra-large one-bedroom units.
Killarney is centrally located among Seattle’s education, technology, and social hubs. The neighborhood is a direct connector between 46,000 UW students and 35,000 South Lake Union tech jobs. Residents are only 10 minutes to three Light Rail Stations for unprecedented regional access, and Seattle’s top restaurants and retailers in Fremont and Capitol Hill are accessible within minutes by bike, foot, or bus.
Following the Great Seattle Fire of 1889, the City’s ordinance for fireproof materials drove demand for brick buildings, which came into fashion the decade prior. Today, among new developments that predominately use Hardie siding and glass, Seattle’s original brick and terra cotta buildings, such as Killarney, celebrate the city’s unique historic and architectural character.
The Portage Bay neighborhood is centrally located among Seattle’s education, technology, and social hubs.
Nestled between Portage Bay and Lake Union, a short walk, bike ride, or bus trip provides access to the city’s most active neighborhoods—from Wallingford to the Central Business District.
Proximity to I-5, SR 520, the Capitol Hill light rail station, and the forthcoming U District light rail station ensures quick commutes to employment centers all around the Puget Sound region.
Portage Bay lies along the path of energy forged between the University of Washington and South Lake Union. The University’s exponential growth over the past decade—particularly in the engineering, computer science, and life sciences fields—is bolstered by the attention and investment from companies that call South Lake Union home.
Pocket parks, water access, and the Cheshiahud Lake Union Loop create a sense of balance amidst the tech-fueled neighborhoods. The abundance of outdoor activities at your doorstep is a timeless draw for Pacific Northwesterners—always looking for an escape.
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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 Killarney Apartments.