NaturalLofts™ N-108 · Fully Permitted 104-Unit Development
13220 / 13224 32nd Ave NE · Lake City, Seattle WA 98125
Investment Summary*
An exceptional opportunity to acquire a fully permitted, shovel-ready development site in Seattle’s rapidly growing Lake City submarket. Transit-oriented location, high-demand rental market, and zero entitlement risk position this project for strong returns and minimal time to market. Projected stabilized NOI of $1,610,818 supports a $32M+ valuation at a conservative 5% cap rate, with ~$10M+ upside potential.
Investment Highlights
- Strong fundamentals. $1,610,818 projected stabilized NOI; $32M+ valuation at conservative 5% cap rate.
- Fully permitted & shovel-ready. All entitlements issued. No permitting delays — contractor bids available now.
- High-demand submarket. Sub-5% rental vacancy; Walk Score 90+; transit-oriented and bus-connected.
- 104 income units. 101 residential + 3 commercial or live / work across 55,130 SF.
- Flexible deal structure. Cash sale, recapitalization, seller equity rollover, or staged take-down considered.
* All projections and assumptions are for illustrative purposes only, are not guaranteed, and subject to change. Buyer to independently verify all information.
Renderings & Plans
Location
Listing Contacts
Exclusive Advisor
Daniel Smith
Principal · Valeron Real Estate Capital
dan@valeronrealestatecapital.com
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The full Offering Memorandum is being finalized for the June 1, 2026 offer deadline — complete financial models, rent comparables, sensitivity analysis, and transaction structure. The Investment Brief is available right now for a complete overview of the property and offering process.