Kenmore Apartment Community
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7206 NE 182nd St, Kenmore, WA 98028
41-unit apartment community in Kenmore, Washington with value-add potential.
Property Size36,183 SF
Days on Market186
Property Features for 7206 NE 182nd St
General Information
Standard status
Active
Size
36,183 SF
Property subtype
Multifamily
Occupancy
98%
Investment Type
Value Add
Building Details
Year Built
2005
Buildings
2
Units
41
Listing Agency:
JLL - Seattle, Washington
Listed By:
Reed Curtis · License #22007982
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 8 at 6:35AM
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 JLL - Seattle, Washington
Investment Insights
Based on property information with market context.
Located in Kenmore, Washington, Chelsea Court is a 41-unit apartment community constructed in 2005. The property features a garden-style layout, comprising two one-bedroom units and 39 two-bedroom, two-bathroom units. A value-add opportunity exists, as 33 units (80%) are in their original classic condition. The current ownership has partially renovated four units (10%) and fully renovated another four units (10%). Fully renovated units achieve a $473 per month premium over non-renovated units, demonstrating the potential for revenue enhancement through renovations. Situated on NE 182nd Street, the property provides direct access to Interstate-405 and State Route 522, offering connectivity to Seattle metropolitan area employment hubs, including Bothell, Bellevue, and downtown Seattle. Nearby employers include Microsoft, Google, Amazon, and the University of Washington Bothell campus. Residents have access to recreational destinations, such as Lake Washington waterfront activities, the Burke-Gilman Trail, and other parks and outdoor amenities. Given median home prices in Kenmore exceeding $825,000, the property offers an alternative for residents seeking housing at a lower cost than homeownership.
Key Highlights
- Value‑add potential through renovation of 33 classic units, with proven $473/month rent premiums.
- Prime location in Kenmore, WA, offering exceptional connectivity to I‑405 and SR‑522 for easy access to major employment hubs and Seattle.
- Attractive alternative to homeownership in a market with median home prices exceeding $825,000.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Explore this area
Business Placement
Demographics for 98028, WA
23,914
Population
9,362
Households
2.6
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
6.1 sq mi
ZIP Area
3,920
Density / Sq Mi
$137,926
Median Household Income
$72,090
Median Earnings
$1,944
Median Rent
$869,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - 41-unit apartment community in Kenmore, Washington with value-add potential.
Where is this apartment building located?
The property is located at 7206 NE 182nd St Kenmore, WA.
What are key features of this property?
This property features: Value‑add potential through renovation of 33 classic units, with proven $473/month rent premiums.; Prime location in Kenmore, WA, offering exceptional connectivity to I‑405 and SR‑522 for easy access to major employment hubs and Seattle.; Attractive alternative to homeownership in a market with median home prices exceeding $825,000.
