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Listings/Footprint West Seattle

Footprint West Seattle

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Under Contract

This listing is currently under contract. For more information about this property, please contact the listing broker.

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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!”

Offering Details

Address
3266 SW Avalon Way, Seattle, WA
Parcel Size
4,800 SF
Parcel Number
929730-1840
Zoning
MR
2018 Tax Bill
$5,013

Property Description

Units
56
Year Built
2014
Residential Unit SF
129-241 SF
Number of Buildings
1
Number of Stories
6
Laundry
Common
MFTE Participation
Started 2015

Investment 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 West Seattle

3266 SW Avalon Way
Seattle, WA 98126
Units: 56
Price: Pending

About the Area

West Seattle has truly transformed over the last six years and continues its trajectory from a nearly suburban residential community on the edge of Seattle to a well-defined urban neighborhood. Despite a rapid increase in the inventory of apartments in West Seattle since 2010, outdoor recreation, an influx of popular restaurants and bars, and proximity to Seattle’s job centers continue to drive demand.

Footprint West Seattle is just up the street from the Luna Park Café — and one look at the establishment reveals everything you need to know about this pocket of West Seattle. The popular, funky 1950s café is the neighborhood’s calling card, and it personifies the area’s quirky character.

Ever since the original Luna Park amusement park brought visitors to West Seattle in the early 1900s, Avalon Way has been a hidden-yet-lively corridor where people gather to work, eat, and thrive. Walk to the West Seattle Brewing Company, jog through Pigeon Point Park, or watch the sunset from Alki Beach.

“The Junction” — one of West Seattle’s thriving commercial centers — is at the fingertips of Footprint West Seattle residents, while downtown Seattle is just a bus or water taxi ride away. For those focused on the long term, the Link light rail expansion will reach West Seattle by 2030 (it’s closer than you’d think!).

12 Minutes

Walk to The Junction

10 Minutes

Drive to Alki Beach

15 Minutes

Water Taxi ride to Downtown

10 Minutes

Ride to SODO on future Link light rail extension

Contact Us

Exclusive Listing Brokers

Dylan Simon, Jerrid Anderson, and Matt Laird are exclusively representing the Seller in the sale of Footprint West Seattle.

Direct: 206.414.8575

       
       

Direct: 425.736.5516