Investment Overview
The Pacific Northwest Investment Sales Team of IPA has been retained as the Exclusive Listing Broker for the sale of a 187-unit multifamily portfolio located within the Seattle MSA. The offering is comprised of two distinct communities: Latitude, a 108-unit garden-style apartment community in South Everett, and Lakefront on Washington, a 79-unit trophy asset situated directly on the shores of Lake Washington in Seattle’s highly affluent Leschi neighborhood.
Latitude is a well-located garden community in a high-demand South Everett submarket, offering exceptional regional connectivity. The property is located less than one mile from Interstate 5 and approximately two miles from the Interstate 5 / Interstate 405 interchange, providing convenient commuter access to Seattle and the Eastside employment hubs of Bothell, Redmond, Kirkland, and Bellevue.
Lakefront on Washington is an exceptionally rare and irreplaceable waterfront apartment community. Opportunities to acquire a true waterfront multifamily asset of scale in this submarket are extraordinarily limited. The community benefits from a core, infill location between Washington State’s two largest employment hubs, Seattle and Bellevue, providing residents with access to nearly 500,000 jobs within a 10- to 15-minute commute. Additionally, the new Judkins Park Light Rail Station, scheduled to open in March 2026, is located less than two miles from the property.
Latitude // Value-Add Investment Opportunity in Everett, WA | 108 Units
Lakefront on Washington // Waterfront Trophy Asset in Seattle, WA | 79 Units
Executive Highlights
Two-Property Portfolio
The offering features two distinct multifamily assets from the same seller, providing exposure to both a premier waterfront investment and a growth-oriented suburban community. Lakefront on Washington presents an opportunity to buy a waterfront asset in a great infill location, while Latitude offers investors long term upside in a high-demand location.
Highly-Desirable, Supply-Constrained Locations
Lakefront on Washington is located in Leschi, one of Seattle’s most affluent and high barrier-to-entry residential neighborhoods along Lake Washington. Latitude is positioned in South Everett near Boeing’s Paine Field facility and planned light rail expansion.
Multiple Upside Opportunities
Both assets present opportunities to increase NOI through operational adjustments and continued reinvestment. The portfolio allows investors to execute value-add strategies while benefiting from stable in-place performance.
Transit Connectivity & Regional Access
Lakefront on Washington is located near I-90 and the future Judkins Park Light Rail Station, opening March 2026. Residents enjoy quiet waterfront living within 15 minutes of downtown Seattle or Bellevue. Latitude benefits from proximity to I-5 and I-405 and is on the path of future light rail expansion.
Compelling Rent-vs-Own Dynamics
Single-family home prices near both properties remain materially higher than the cost of renting. Elevated interest rates and persistent home price levels continue to support renter demand as affordability remains a key driver.
Proximity to Major Employment Centers
Both properties are well positioned near major employment hubs throughout the Seattle MSA, such as Amazon, Boeing, Meta, Microsoft, and Google. Strong access to leading technology, aerospace, and healthcare employers continues to drive consistent rental demand.
Latitude Community Amenities
Resident clubhouse
Fitness center
Outdoor terrace with BBQ and firepit
Fenced dog park
Amazon Hub lockers
Carports for lease
Latitude Apartment Features
Balanced mix of one- and two-bedroom homes averaging ±758 square feet
Stainless steel appliance packages including built-in microwave
Wood-burning fireplaces in all homes
Full-size washer/dryer in all homes
Select homes have been upgraded with vinyl plank flooring throughout the living areas
Private patio or balcony with storage closet off each home
Lakefront Community Amenities
On-site leasing office
Pool & sundeck overlooking Lake Washington
Fitness Room
Personal boat moorage available for lease
Outdoor grilling station
Surface parking lot
Lakefront Apartment Features
Studio, one-, two-bedroom apartment homes averaging ±797 square feet
Sleek kitchens with driftwood inspired cabinet faces, quartz countertops, undermount apron stainless steel sinks, and subway tile backsplashes
Stainless steel GE® appliances with built-in microwaves
Private patios with glass railings in all homes
Oversized windows and roller shades
Unobstructed water views from most homes
Wood-burning fireplaces with tiled surrounds and quartz hearths in select homes
Floating bathroom vanities and tiled shower surrounds in most homes
In-unit washer/dryers in most homes; on-site laundry facilities for those without
Vinyl plank, tile, and plush carpet flooring
