Peak 88 is a 36-unit value-add property offering immediate upside in Renton, one of Seattle’s most desirable submarkets. The .88-acre lot offers easy access to major employers like Boeing as well as shopping and entertainment nearby at The Landing. With a cost of living 35% lower than Seattle, Peak 88 combines convenience and affordability. Built in 1978, Peak 88 has undergone light remodeling and upgrades over the years while maintaining its solid foundation. The property features spacious floor plans averaging 781 SF, well-equipped kitchens, in-unit washers and dryers, private balconies, and woodburning fireplaces. Residents also benefit from a near 2:1 parking ratio, with the option for covered parking. Peak 88 presents a strong investment opportunity, with 30-year LIHTC restrictions that recently expired on January 1, 2025. Without significant operational changes, rents can be immediately increased 23% to align with current market rates, and post-renovation premiums of $100+ per unit are projected across all unit types. Situated in the middle of a growing and affluent renter base—where average household incomes are expected to reach $149,947 by 2029—Peak 88 is well-positioned to capitalize on strong rental demand and continued home value appreciation in the region. Investment Highlights: Significant Upside Potential: With 30-year LIHTC restrictions terminating effective January 1, 2025, and in-place leases ending by April, rents can be immediately increased by an average of 23% to market rates without significant changes to operational expenses. Value-Add Opportunity: While the property has undergone light remodeling over the years, the majority of units remain in classic condition, making it an ideal candidate for a full value-add program while pushing rents to market rate. Post-renovation, monthly rent premiums of $100+ per unit are projected across all unit types. Further Upside Potential: Implementing a RUBS program across all 36 units would generate nearly $50,000 in additional annual operating income by recovering 85% of utility costs. Ample Parking: The property offers 30 surface and 30 covered parking spaces, creating opportunities for additional income while providing residents with abundant parking options. Pivot-Point Location: Located in the heart of Renton, Washington, the property connects residents to freeways, airports, seaports, and railways. It offers direct access to Interstates 405 and 5, King County Metro and Sound Transit Express buses, and Sounder Commuter Rail services between Tacoma and Downtown Seattle. Employer Arterial: The property provides easy access to major Eastside employers like Microsoft, Google, T-Mobile, Amazon, and Boeing. Residents enjoy a 35% lower cost of living compared to Seattle while staying close to these employment centers. Affluent, Expanding Renter Base: Within a five-mile radius, 68% of residents work in white-collar jobs, and average household incomes are projected to reach $149,947 by 2029 - a 32.9% increase. Rising home values, with median single-family home prices up 12.4% year-over-year, continue to drive strong rental demand.