The Montrose presents a rare investment opportunity in Burien, WA, with its substantial 97-unit scale and the scarcity of similarly sized assets in the area. This well-maintained property is strategically positioned to deliver immediate positive leverage, boasting a 6.20% in-place cap rate. The units feature well-equipped kitchens with electric stoves, disposals, and dishwashers, along with vinyl plank flooring in the kitchen and dining areas. Additionally, future renovation costs have been minimized, as the majority of the units include in-unit washers and dryers and over $50,000 was spent on roof replacement costs in October 2024. Investors can further enhance returns through a value-add program, potentially increasing the cap rate to nearly 7%. The property’s unique layout, situated off the main road, provides a tranquil atmosphere and serene living environment while maintaining accessibility to major employment hubs and retail options. Attractively priced at $190,721 per unit, The Montrose is a compelling acquisition opportunity in a high-demand submarket. The property boasts a robust parking ratio with 124 dedicated spaces, enhancing tenant appeal and supporting occupancy rates that have consistently outperformed the Seattle metro area. With historically high occupancy and proven rental upside, new ownership can focus on aligning rents with market rates and implementing operational efficiencies to boost top-line rental income. Located in the vibrant city of Burien, The Montrose benefits from unmatched connectivity to key economic centers, including the Seattle-Tacoma International Airport (SEA) and downtown Seattle. The local economy thrives on sectors such as retail and healthcare, providing a strong employment base and supporting rental growth. Burien's favorable cost of living and expanding, affluent renter base further bolster the property's investment potential, making The Montrose a prime candidate for investors seeking long-term value and growth in the multifamily market. Investment Highlights Attractive Pricing and Leverage: Priced at $18.5 million, or $190K per unit, the property is projected to achieve a 6.63% cap rate with minimal operational changes and aligning all units to market rates. Prime Location: The Montrose is a rare find in Burien, offering a well-maintained apartment building close to the Highline School District, attractive retail options, and major employment hubs. Proven Rental Upside: Highest-achieving rents are commanding up to $95 in monthly premiums over current market rates. New ownership can align all rents to market rates and expend the recently successful RUBS program to boost top-line rental income by 6%. Ample Parking: The property features a robust 1.28 parking ratio, with 124 dedicated parking spaces on a sprawling 3.3-acre parcel. Value-Add Opportunity: While some light remodeling has been done, most units remain in turn-of-the-century condition, making the property ideal for a full value-add program to enhance tenant appeal and increase rents by nearly $200 across all unit types. Historically High Occupancy: The submarket has consistently outperformed the Seattle Metro, with Burien’s occupancy rates averaging 190 basis points higher over the past five years. Employer Arterial: Located near Seattle-Tacoma International Airport (SEA) with excellent transportation infrastructure, Burien is home to nearly 1,600 businesses employing over 14,400 residents, plus an additional 23,000 workers at SEA. Desirable Unit Mix: The Montrose offers a desirable blend of one-, two-, and three-bedroom units, catering to a broad range of renters.