Micro-Housing Apartment
For Sale
Contact for pricing
Pending
306 Summit Ave E, Seattle, WA 98102
Micro-housing apartment building created to support naturally occurring affordable housing, with a pre-leasing wait-list above available units.
Property SizeContact for details
Days on Market777
Property Features for 306 Summit Ave E
General Information
Standard status
Pending
Class
A
Property subtype
Multifamily
Investment Type
Core
Building Details
Year Built
2009
Buildings
6
Units
249
Listing Agency:
Berkadia
Listed By:
Chad Blenz · License #WA 125100
Source:
Crexi
Added: Jun 26, 2024
Changed: Aug 8
Last Checked: Jul 24 at 2:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkadia
Investment Insights
Based on property information with market context.
This apartment building uses the aPodments micro-housing format, developed to create naturally occurring affordable housing through market-rate development. Public remarks indicate that, prior to leasing, the property had a wait-list well over twice the number of available units. During lease-up, management exceeded market absorption rates by three times from market-rate units, reflecting strong early demand for the concept.
The property is located at 306 Summit Ave E, Seattle, WA 98102. More broadly, the aPodments approach has been applied across 23 properties and more than 1,400 units throughout Seattle, with development focused on neighborhoods designed to keep employers, public transit, and amenities readily accessible for tenants.
The property is located at 306 Summit Ave E, Seattle, WA 98102. More broadly, the aPodments approach has been applied across 23 properties and more than 1,400 units throughout Seattle, with development focused on neighborhoods designed to keep employers, public transit, and amenities readily accessible for tenants.
Key Highlights
- Pre‑leasing wait‑list was well over twice the number of available units
- Lease‑up exceeded market absorption rates by three times from market‑rate units
- aPodments concept first property completed in 2009 and has been steadily developed since
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,588
Businesses Nearby
Explore this area
Business Placement
Demographics for 98102, WA
25,066
Population
17,944
Households
1.4
Avg Household Size
34
Median Age
79%
College-Educated
99%
High-School Grad
1.3 sq mi
ZIP Area
19,282
Density / Sq Mi
$114,395
Median Household Income
$80,130
Median Earnings
$1,920
Median Rent
$988,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Micro-housing apartment building created to support naturally occurring affordable housing, with a pre-leasing wait-list above available units.
Where is this apartment building located?
The property is located at 306 Summit Ave E Seattle, WA.
What are key features of this property?
This property features: Pre‑leasing wait‑list was well over twice the number of available units; Lease‑up exceeded market absorption rates by three times from market‑rate units; aPodments concept first property completed in 2009 and has been steadily developed since
