Recent Closing - 31 Units in Seattle, WA (SeaTac, WA)

[Mike Flaherty]

El Dorado Hills, CA - L5 Investments, a Northern California-based multifamily investment firm is pleased to announce the successful closing of a 31-unit apartment community in SeaTac, WA (an emerging submarket of Seattle, WA).  The property, built in 1967 and renovated in 2006/2007, offers both operational and physical repositioning opportunities that will increase value and cash flow.

The property is well positioned and stands to benefit from L5’s $665,000 rehab program which will significantly impact the property with extensive interior upgrades and the conversion of an office to a new, leasable studio unit.  Exterior improvements will include paint, upgraded railings, improved lighting, new signage, additional parking and improved landscaping.  

This property is expected to be another strong performing asset for L5’s growing portfolio. 

L5 Real Estate Investments continues to provide best in class wealth and asset management via well located, yield-driven multifamily assets where improved operations and physical improvements maximize earnings and build wealth.