Investment Overview

The Seattle Investment Sales Team of IPA has been retained as the exclusive listing brokers for the sale of Cedardale, a 126-unit multifamily community situated in the highly sought-after Seattle MSA suburb of Federal Way. Perfectly positioned between Seattle and Tacoma, this location offers the ultimate convenience for commuters, with easy access to major employment centers such as downtown Seattle, the Eastside, Tacoma, and Kent Valley via Interstate 5 and State Route 18. Furthermore, the Federal Way Transit Center and the future Link Light Rail Station, scheduled to commence service in 2025, are within five miles of the property.

Cedardale is a well-maintained property offering a value-add investment opportunity for investors in a strong multifamily investment submarket. Only nine units at the community have undergone renovations and the remainder (93%) of the unit interiors feature classic finishes ready for renovations, providing the potential to further improve and drive rental income.

Excellent Real Estate, Well-Maintained Asset

Meticulously maintained asset with attractive grounds. Recently refreshed clubhouse with centralized amenities, surrounded by 126 multifamily homes. The community features lush landscaping and ample parking throughout.

Proven Value-Add Opportunity

All but nine of the homes feature mostly original finishes such painted cabinetry and laminate countertops offering an opportunity for a cosmetic renovation. Renovated homes demonstrating up to $300 rent premiums.

Strong Walkability

Just steps away from several bustling retail centers. Residents enjoy easy access to a variety of shopping options, dining establishments, and grocery stores, all within a short walk.

Easy Access to Major Employment Hubs

Centrally located between Seattle and Tacoma and less than 10 minutes from Interstate 5 for easy commutes to downtown Seattle, Sea-Tac Airport, Kent Valley, and the Eastside.