Cierra Commons is an exceptional investment opportunity located on an expansive two acres in Burien, just minutes from the Seattle-Tacoma International Airport. This 66-unit complex, spread across five three-story buildings, boasts historically high occupancy rates and ample parking with 114 spaces. With attractive pricing at $210,000 per unit and $275 per square foot, Cierra Commons is valued at $14 million, presenting new ownership with immediate upside in Seattle’s most affordable submarket. Cierra Commons has recently undergone partial renovations, offering an opportunity for immediate rental upside by aligning existing rents with the highest market rates, as outlined in the property valuation. During tenant turnover, each unit received some variation of upgrades, including new stainless-steel appliances, luxury vinyl plank flooring in living areas and bathrooms, shaker-style cabinets, and modern lighting and fixtures. By trimming expenses, new ownership can capitalize on the existing upside opportunity immediately. Located directly between Seattle and Tacoma, Burien offers Cierra Commons residents direct access to the area’s largest employment hubs while maintaining affordability as a quiet suburban retreat. The local economy is supported by major employment sectors including the Seattle-Tacoma International Airport, numerous retail businesses, and healthcare, with major employers like St. Anne’s Hospital and Kaiser Permanente. Burien is currently the most affordable submarket in the Seattle Metro area, allowing multifamily operators to maintain high occupancy rates and capitalize on this growing market. INVESTMENT HIGHLIGHTS: - Recent Upgrades: Each unit has recently undergone partial renovations during tenant turnover, featuring new stainless-steel appliances, luxury vinyl plank flooring in living areas and bathrooms, shaker-style cabinets, and modern lighting and fixtures. · Proven Rental Upside: Highest achieving rents are commanding up to $154 in monthly rent premiums over current average rents. With minimal operational changes, new ownership can focus on aligning all rents to market rates while further implementing RUBS utility recovery to increase operating income by 10% in the short term. · Historically High Occupancy: Burien attracts residents relocating from more expensive areas of Metro Seattle. Over the past five years, the property has consistently outperformed Seattle’s occupancy rates by an average of 470 basis points. · Diverse Unit Mix: Features a desirable blend of one- and two-bedroom units of varying sizes, appealing to a wide range of renters. · Ample Parking: The property has 30 parking spaces and 84 carports, providing residents with abundant parking and creating an opportunity for ownership to earn additional income. · Pivot-Point Location: Located just east of downtown Burien, the property is well-positioned for long-term stability and growth due to its proximity and easy access to major employment hubs in the Seattle MSA, including Kent Valley, Seattle, and Bellevue. · Employer Arterial: Strategically located near Seattle-Tacoma International Airport (SEA) with excellent transportation infrastructure, Burien is home to nearly 1,600 businesses that employ over 14,400 residents, along with an additional 23,000 workers at SEA. · Minimal Deferred Maintenance: Ownership has invested over $200,000 in capital expenditures over the past year, covering projects such as exterior painting, landscaping, parking lot resurfacing, plumbing upgrades, fire systems, and leasing office remodeling. Additionally, all roofs have been replaced within the last ten years.