Well-located in Burien, Ambaum Place I & II is just 20 minutes south of Seattle and is positioned roughly 15 minutes from Westfield Mall, Trader Joe’s, and PCC. The property is only 10 minutes from the Seattle-Tacoma International Airport, and offers quick access to State Route 509 and Interstates 5, 90, and 405. Residents of Ambaum Place also enjoy convenient proximity to a variety of restaurants, grocery stores, and public transit options, including the RapidRide H Line and King County Metro’s 128 route, both steps from the property. Comprised of two buildings built in 2014 and 2018, Ambaum Place I & II boasts a total of 52 units – 20 studios, 11 one-bed/one-bath units, 18 two bed/two bath units, and 3 three-bed/2-bath units. Units offer double- or triple-pane windows, and the apartments in the Ambaum Place II building feature full-size, in-unit laundry machines and private balconies or patios. The property features controlled access, a fitness center, a picnic area, and a playground, as well as two 500-SF office spaces that a new operator can convert into a new amenity or use for storage or on-site management. There are also 62 off-street parking spaces for tenant use. Ambaum Place I & II is an excellent investment, offering an in-place cap rate of 5.6% with value-add potential in the form of increased rents and raised parking and utility rates. The property’s 52-unit size allows for competent and affordable management. Further, while the two buildings must be purchased together, they may be financed separately, allowing for more flexibility for future ownership.