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The Zindorf
This investment offers accredited investors the opportunity to capitalize on a well-positioned real estate investment in a high growth, high yield area.
The Zindorf Apartments is a 74 unit asset with 18 surface parking stalls. It is comprised of two separate tax parcels. Its prime location, adjacent to First Hill’s renowned medical core, and direct access to downtown Seattle provides close access to world-class healthcare facilities, a Class A high growth city, and on-ramp to the I5 highway as well as proximity to the Yesler Terrace redevelopment and lightrail.
Since 2013, the revitalization of Yesler Terrace just South of the site has transformed the area into a vibrant and diverse neighborhood. The Yesler Terrace Redevelopment is envisioned as a model community. The neighborhood offers a wealth of job prospects, particularly in the healthcare sector, ensuring career growth and economic stability for residents.
Zindorf offers very unique opportunities on the exit. The High-Rise (HR) zoning provides the chance to partner in redeveloping the site into a trophy high-rise asset or sell it to a developer as part of an assemblage in the future.
This vehicle is a strategically selected multifamily asset that exhibit strong potential for both near-term income and long-term appreciation.
Offering Terms
Target Raise - $3,000,000
Minimum Investment - $50,000
Investment Period - 5-7 Years
Distribution Schedule - Quarterly
Targeted Returns
Equity Share - 80 (LP) / 20 (GP)
ARR - 18-20%
Cash on Cash - 6-7%
Asset Details
Location Class - A
Property Class - C
Asset Type - Multifamily
Size - 74 units, 5 stories
Stabilization - 95% Occupancy
Rentable SF - 26,545
Parking - 18 stalls
Year Built - 1910
Location
WASHINGTON - First Hill, Downtown Seattle
714 7th Ave, Seattle WA 98104
Disclaimer
This information is authorized for use only by a limited number of persons with an existing relationship with Three Krown Capital and who have been qualified and accepted as Accredited Investors.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the real estate interests in these property deal packages or passed upon the adequacy or accuracy of the information herein. Any representation to the contrary is a criminal offense.
This material does not constitute an offer or a solicitation to purchase securities. An offer can only be made by the private placement memorandum.
Contact Us:
THREE KROWN CAPITAL
Seattle, WA
Chris@ThreeKrown.com
(206)214-6566
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