Bastyr University is poised for an upcoming sale, presenting a truly unique investment opportunity due to its existing improvements, size, and scenic location along the northeast shore of Lake Washington. This expansive 177,900-square-foot campus features 11 cottages and 132 apartment units in the Student Village, as well as campus buildouts in the form of multiple classrooms, cafeterias, professional kitchens, and an auditorium. The property boasts many unique features across its sprawling 50 acres, including the expansive Bastyr Gardens, multiple athletic fields, and the historic 5,600-square-foot Bastyr Chapel, a venue for weddings, concerts, and recording sessions. This turnkey asset offers three potential investment scenarios: institutional expansion through acquisition of the vacant campus, leveraging LEED Platinum-certified student housing, and development potential on 12.3 acres for mixed-use or campus expansion. Investment Highlights Prime Location with Excellent Connectivity Situated between Bellevue and Everett, Kenmore is known as a major tech corridor due to the presence of many international and startup technology and biomedical companies. State Route 522 passes through the heart of Kenmore, connecting to major Interstates 5 and 405, with express light rail access to Downtown Seattle. Award-Winning, Superior-Quality Design and Build Accommodating 132 students across 11 three-story, free-standing cottages, the Student Village was awarded the Outstanding Multifamily Project in the 2010 LEED for Homes Awards from the U.S. Green Building Council. Multiple Options for Upside Turnkey infrastructure underscores immediate use of existing facilities and campus housing; 12.3 acres identified for multifamily, site amenities, and neighborhood services; nearly 37 acres of buildable land area allows for multiple future development scenarios. Attractive Improvements and Amenities Spanning nearly 51 acres, including a 177,900-square-foot campus complex, student housing, dining hall, fitness and wellness facilities, historic venue, botanical gardens, teaching clinics, and library. Affluent Community Kenmore is one of the most educated cities in Washington, with 59% of residents age 25 and older having obtained a bachelor’s degree or higher, well above the state average of 38%. Exceptional Tenant Demographics The average household income in Kenmore is 20.2% higher than in Metro Seattle and 41.8% above the state average; Kenmore’s average household income is projected to reach $241,156 by 2029, up 31.5% from 2024. Strong Market Dynamics Rising rental rates in Seattle’s Central and Eastside submarkets are driving migration to more suburban areas, resulting in compressed vacancy rates (3.6%) and increased rental prices. Median single-family home prices increased 3.2% year-over-year to $1.4M as of February 2025.