3019 S Angeline St
- Transit-Oriented Location: Situated adjacent to the Columbia City Link Light Rail Station.
- Amenity-Rich Neighborhood: Columbia City’s perfect mix of amenities and small-town feel have established it as a desirable and consistently top performing South Seattle submarket.
- New Construction: 2025 delivery reduces maintenance costs, insurance risks and near-term capital expenditure requirements.
- Compelling Basis Play: At $173k/unit, the property presents a rare opportunity to acquire a new construction asset below replacement cost.
- Attractive Yields: This project is 96% leased and projected to achieve a 6.5% cap rate on year one numbers.
- MFTE Property Tax Exemption: The property participates in the Seattle MFTE program providing a significant reduction on operating cost through a property tax exemption for another 9 years.
Property Description
The Lee & Associates Multifamily Team is proud to present Columbia City Studios, a newly constructed 89-unit multifamily asset completed in 2025 and ideally positioned within Seattle’s vibrant Columbia City neighborhood. Uniquely situated south of Downtown Seattle and only 4 stops from SeaTac International Airport, the property has the unique opportunity to appeal to airline attendants, pilots, and service workers looking for amenitized urban living settings. Designed to meet the growing demand for efficient urban housing, the property features contemporary studio homes with modern finishes including quartz countertops, stainless steel appliances, vinyl plank flooring, and expansive floor-to-ceiling windows that maximize natural light and create an open, modern living experience. Community amenities include secured bicycle storage, a fitness center, Amazon Hub lockers, coin-operated laundry facilities serving all floors, and an expansive landscaped courtyard overlooking the adjacent greenway, envisioned as the property’s “backyard oasis” for residents to gather, relax, and socialize. Beyond the property itself, residents benefit from immediate walkability to Columbia City’s renowned retail and dining corridor, featuring neighborhood cafés, award-winning restaurants, grocery stores, boutique retail, parks, and everyday conveniences. Long celebrated for its eclectic character, cultural vibrancy, and neighborhood charm, Columbia City continues to attract significant residential investment fueled by expanding light rail infrastructure and increasing demand for walkable urban living in Southeast Seattle. Columbia City Studios presents a compelling investment opportunity to acquire a high-quality, low-maintenance new construction asset with durable long-term fundamentals, institutional-quality transit access, and positioning within one of Seattle’s most desirable and rapidly evolving neighborhoods.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 89 |
| Year Built: | 2025 |
| Lot Size: | 0.29 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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