THE LOCATION Terrace Villa, located at 3230 SW Avalon Way, is just a 10-minute car or bus ride to all Seattle core neighborhoods. A short walk away is the West Seattle Junction, known as “The Heart of West Seattle”. The Junction is a lively neighborhood full of restaurants, coffee shops, cocktail lounges, and unique shopping opportunities. Nearby grocery options include Trader Joe’s and Whole Foods. West Seattle has some of Seattle’s greatest outdoor spaces. The iconic Alki Beach is just a short bike ride from the Terrace Villa. The beach and its boardwalk offer stunning views of Elliott Bay and the Olympic Mountains. Nearby Lincoln Park has 135 acres of outdoor space nestled along Puget Sound. THE BUILDING Terrace Villa is a four-story wood-framed building constructed in 1990. The property comprises 36 apartment units and includes two levels of secured parking with 49 stalls, 11 of which are tandem. Within the parking garage there are 10 storage lockers and a large storage room with the potential to accommodate 10 additional lockers. The building features a secure entrance with a remote intercom system, a lobby, and an elevator. The unit mix includes 21 one-bedroom/one-bath units, averaging approximately 605 square feet, and 15 two-bedroom units, each around 851 square feet. All units are equipped with dishwashers, electric fireplaces, and large windows. Most units also offer private decks with sweeping views of downtown Seattle and the surrounding area. 27 units have in-unit washers and dryers, while the remaining units are serviced by an on-site common laundry room. THE OPPORTUNITY The Terrace Villa provides investors with solid in-place cash flow with the clear management upside opportunity and the ability to modestly increase rents to market rate. Current financing rates range from 5.35%to 5.60% depending on loan product and duration.