5630 WEST SEATTLE

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Metrics Overview

Address: 5630 California Ave SW Seattle, WA 98136
Units: 20
Date acquired: 1/14/2021
Date sold: Current Holding
Acquisition price: $4,848,000
Sales price: Current Holding
Capital investment (M&M Ventures): $2,000,000
Profit: Current Holding
Internal rate of return (IRR): Current Holding

This 20 unit apartment building was built in 1969 and has 18 625sf 1BR units and two expansive 2BR units. The property has significant potential to add value with renovations to the dated apartment units, including new flooring, kitchen cabinets, quartz countertops and addition of kitchen peninsula in selected units, all new SS appliances, new bath fixtures, all new window & door trim and light fixtures, new window coverings and installation of in-unit washer/dryers to replace the current community laundry. Common area foyers and hallways have already been updated along with a full exterior paint. We also plan to add enclosed patios to all ground level units along with added landscaping around the building perimeter.

PRIME

LOCATION

5630 West Seattle sits in a prime West Seattle location on the East side of California Avenue just south of the popular Alaska Junction. This West Seattle location allows for easy access to downtown Seattle over the West Seattle bridge, Alki Beach, Fauntleroy Ferry with frequent public transit activity along California Ave.

OUR

PARTNERS

M&M Ventures has partnered with Ryan Scarff, Owner of Saltchuck Construction. After earning over 10 years experience in the commercial construction industry at Lease Crutcher Lewis in Seattle, Ryan formed Saltchuck Construction in 2021 to focus his attention on partnering with M&M Ventures and other multifamily and syndication investors. Ryan's extensive training in construction project management at LCL makes him a valuable partner on any value-add project.