Westhaven

Investment Highlights

Westhaven is an institutional-grade multifamily garden-style community in the highly desirable West Seattle neighborhood that offers tenants larger, more affordable units than new construction in Junction, Belltown, South Lake Union, or Capitol Hill. The West Seattle submarket has experienced tremendous economic tailwinds due to its proximity to Downtown Seattle. As rents downtown and home prices in the region continue to rise, quality middle-class households will seek alternative housing options. TruAmerica plans to invest approximately $1.6 million into upgrading unit interiors and improving common areas and existing amenities. The property has historically demonstrated that tenants will pay for better kitchen appliances, washers, and dryers as well as more aesthetically-pleasing flooring and interior colors. TruAmerica’s acquisition cap rate is favorable relative to market where most transactions occur at cap rates below 5%.

Property Highlights

Newly renovated apartment homes surrounded by seven acres of manicured lawns. Located close to South Seattle Community College, downtown Seattle, shopping, schools, and freeways. Westhaven offers the convenience of a city location with the serene feel of the country.

Amenities

  • 24-hour fitness center
  • Barbecue area
  • Business center
  • Clubhouse
  • Covered parking
  • Direct entry
  • Outdoor pool and deck
  • Sauna
  • Close to mountains and greenspace
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