Lake Fenwick Estates is a 216-unit garden court apartment community located in Kent, WA, ideally situated 20 miles south of Seattle’s thriving downtown and eight miles south of Renton, WA – home to one of Boeing’s largest airplane production facilities in the world. Originally constructed in 1988, the property is located on 14.3 acres of maturely wooded grounds and is comprised of 19 residential buildings in addition to a recreation building that includes a leasing office, clubhouse, fitness center and indoor pool.

 

Investment Highlights

• Value-add opportunity with exceptional rent growth potential

• Well-constructed property with spacious floor plans on

  beautiful grounds

• Most of the units have been upgraded leaving some room for

  further upgrades and 27% of the units are in the 1988 original condition.

• Highly visible location with stellar freeway access to region’s

  major freeways

 

Location Highlights

• Ideally located near the Kent Valley, a large employment hub

• Renters being pushed out by escalating rents in Seattle and

• Bellevue represent a captive audience for South King

  County and especially for the Kent market.

• The current vacany rate for Kent is 3.5%

• The five year average vacancy for South King County is

  4.6% and 4.3% for Kent

• Average rent levels provide an affordability solution for rising
  Seattle rents