Originally constructed in 1970, the Kathleen is a sixteen-unit apartment community located in the heart of Burien. With a 95 Walk Score, this property has everything tenants are looking for in a place to call home. Higher trending rents in the area tell the story of increasing demand in the submarket, which can be attributed not only the asset itself but its great location. Being in proximity to major employers, the Kathleen is just blocks from restaurants, shopping, grocers, and nightlife. The Kathleen Apartments consists of fifteen ± 725-square foot one-bedroom/one-bathroom units and a single two-bedroom/one-bathroom. Each unit features a spacious living and dining room, in-unit washer & dryer, oven/range, and refrigerator. With assumable financing at 3.35%, this offering presents an excellent opportunity to purchase a multifamily building with strong appeal while being able to take advantage of significant rental upside.

At a purchase price of $3,500,000, the Kathleen Apartments offers an incoming investor the opportunity to achieve an above-market return out of the gate, and finish renovating interiors to stabilize north of a 8% cash-on-cash return.