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Listings/Footprint Madison

Footprint Madison

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Executive Summary

Footprint Micro Apartments are the brainchild of the late Jim Potter. Jim was the first pioneer of micro-living in Seattle, informed by a career spent developing affordable, urban-located housing. Jim’s concept was simple: offer affordable and efficient housing ideally located in phenomenal urban neighborhoods sought by many, yet not affordable by all. In response to the Great Recession, Jim delivered his first Micro Apartment development in 2009. The Footprint Portfolio is certainly the greatest expression of micro-living and the culmination of Jim’s four-decade commitment to offering affordable housing to urban dwellers in the Puget Sound region.

Each Footprint property contains studio units with access to common kitchens and resident amenities. Studio units, with their own convenience centers, are serviced by a common kitchen. Units are efficiently designed, maximizing utility and space while minimizing rental costs to residents. The signature expression of Footprint buildings are excellent and durable building design, efficient floor plates and floor plans and strategic location in Seattle’s best urban neighborhoods. As Jim put it, “Your neighborhood is your amenity!”

Site Details

Address
1806 23rd Avenue, Seattle, WA
Parcel Size
8,400 SF
Parcel Number
140730-0010
Zoning
LR3
2018 Tax Bill
$5,592

Development Details

Units
61
Year Built
2014
Number of Buildings
1
Number of Stories
4
MFTE Participation
Started 2015

Opportunity

Footprint Portfolio buildings are located in Seattle’s most desirable urban neighborhoods, offering investors access to coveted and timeless locations. Residents have every benefit of neighboring apartment units that are double and triple the cost, yet can live an equal lifestyle efficiently and economically.

Financial returns on Footprint Portfolio buildings are well in excess of any other core-located, urban multifamily investment in the market. On a percentage basis, rental rate growth will best any other apartment investment in the market. New construction, ideal locations and protected financial performance create a true arbitrage opportunity.

Seattle building code changes in 2015 prevent any other developer from replicating the Footprint Portfolio formula. The Footprint Portfolio provides a price-point monopoly with no time horizon – a truly once-in-a-lifetime opportunity!

Ideal Location

Financial Arbitrage

Monopoly Position

Location

Open Google Maps

Footprint Madison

1806 23rd Ave
Seattle, WA 98122
Units: 61
Price: $7,900,000

About the Area

Question: What do residents do when they want the action of Capitol Hill and the serenity of Madison Park?

Answer: Split the difference at Footprint Madison.

Nestled on the eastern slope of Capitol Hill, Footprint Madison connects to regional hot spots via 23rd Avenue and East Madison Street — two thoroughfares that deliver residents from Downtown to Lake Washington, and from the University of Washington to Interstate 90.

On the block, residents love the convenience of a Safeway, lifestyle vendors, and small bars and restaurants. For those who venture west along Madison Street, the eclectic glories of the Pike/Pine Corridor and Broadway are just minutes away by foot or bus. Students and professionals also enjoy short commutes to Seattle University, major hospitals in First Hill, and Downtown Seattle.

Continuing east ushers in a complete change of scenery — and some of Seattle’s most desirable residential neighborhoods. Whether one seeks the unending trails and greenery of the Washington Park Arboretum or access to Lake Washington for water sports, these natural wonders provide a coveted escape from the concrete jungle within a mile of Footprint Madison.

2 Minute

Walk to Safeway

18 Minute

Bus ride to Downtown

12 Minute

Bus ride to Madison Park Beach

7 Minute

Drive to future Judkins Park Link Light Rail station

20 Minute

Bike or bus ride to the University of Washington

Contact Us

Exclusive Listing Brokers

Colliers International WA LLC is the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Matt Laird are exclusively representing the Seller in the sale of Footprint Madison.

Direct: 206.414.8575

       
       

Direct: 425.736.5516