west seattle flats€¦ · a 9-unit asset in one of seattle’s urban sanctuaries. west seattle...
TRANSCRIPT
WEST SEATTLE FLATSOffering Memorandum
90
44
35
th Ave
SW
| SEATTLE
Matt MillerP: 206.566.6593C: [email protected]
EXCLUSIVELY LISTED BY
Investment Overview
Location
Financials
Comparables
Offer Guidelines
TABLE of CONTENTS
The information included in this document has been obtained from sources we believe to be reliable. While we do not doubt its accuracy, we have not verified it and cannot make any guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and may not accurately represent the current or future performance of the property. The value of any proposed transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. © Pilot Ventures LLC.
INVESTMENT OVERVIEW
WEST SEATTLE FLATS | PILOT VENTURES | 5
A 9-unit asset in one of Seattle’s urban sanctuaries.
WEST SEATTLE FLATS | PILOT VENTURES | 6
$140,720PROFORMA NOI
Price $ 2,500,000
Units 9
Price Per Unit $ 277,778
Rentable SF 8,651
Price Per SF $ 289
Current Cap Rate 3.76 %
Market Cap Rate 5.63 %
Current GRM 15.3
Market GRM 12.2
Year Built 1981
Parcel Number 609440-0005
Land SF 7,200
Zoning NC2P-55 (M)
Construction Type Wood Framed
Plumbing Copper/PEX
Parking 4 Tuck Under, 8 Surface
Laundry In-Unit Washer/Dryer
Hot Water Individual H20 Tanks
Heating Electric Baseboard
Roof Type Torchdown
Windows Dual Pane
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Interior Photos
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Interior Photos
LOCATION OVERVIEW
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WEST SEATTLE
QUEEN ANNE
LAKEWASHINGTON
PUGETSOUND
ELLIOTTBAY
BEACON HILL
DOWNTOWN
CAPITOL HILL
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Seattle is a bustling metropolis, ranked by
the U.S. Census in the “Top 4 for Growth” for
five consecutive years. Since 2010, Seattle’s
population has increased 18.7%, bringing
an additional 114,412 residents to America’s
beloved Emerald City. Seattle has one of the
tightest office markets in the country and is
far less expensive than markets like New York,
San Francisco and Washington, DC. As a result
of a dynamic workforce driven by the tech
sector, many tech tenants have set up shop in
the region which is having an impact on the
multifamily sector boom.
It’s no stretch to appreciate how the lush,
green foliage and shimmering waters led a few
to Seattle. Unparalleled beauty and access to
the outdoors have helped attract some of the
best companies in the country. To the east and
west, the city is bordered by Lake Washington
and the Puget Sound. Out further, snowcapped
mountain ranges can be seen in every direction.
Home to a diverse and robust community, Seattle
is the cultural and business center of the Pacific
Northwest. The thriving tech sector has pushed
up the wages, software engineers averaging
$132,000/year, as well as the cost of rent.
Employment and population growth rates are
strong and stable, supported by the variety of
commerce and an ongoing demand for skilled
workers. Companies expanding in the metro
include Indeed, Lyft, Uber, Tableau (acquired by
Salesforce), Oracle, Apple and Best Buy. Apple
announced in June 2019 that it will expand its
Seattle workforce by 2,000 employees by 2022, up
from roughly 450 employees currently. Apple has
occupied space at Two Union Square in Seattle
CBD since 2015 and took all of the space at 333
Dexter in Lake Union, enough room for
seattle
Regi
onal
Info
rmat
ion
WEST SEATTLE FLATS | PILOT VENTURES | 12
more than 4,000 employees. In addition, with the
highly anticipated relocation of Expedia in 2019
and the recent acquisition of Tableau by Salesforce
(Salesforce HQ2), Seattle continues to bring strong
talent into the core which fuels the absorption of
multifamily units.
Seattle was ranked the second-best city for
STEM workers by NerdWallet. The University of
Washington, a highly ranked school with a variety
of nationally recognized programs, prepares top-
tier students for roles at companies, such as the
Fred Hutchinson Cancer Research Center, the Allen
Institute and various cutting-edge tech companies.
Buzzing with new infrastructure, jobs and residents,
Seattle’s ever-growing metropolis is considered
home to many major employers who drive growth
and fuel the area’s economic climate including:
53,000 employees 4,500 employees
500 employees 235 employees320 employees
800 employees 525 employees700 employees
1,000 employees 800 employees1,000 employees
1,365 employees 1,186 employees1,250 employees
2,000 employees 2,000 employees5,000 employees
2,500 employees
WEST SEATTLE FLATS | PILOT VENTURES | 13
seattle
Loca
l Att
ract
ions
Pike Place Market
Pike Place public market, overlooking the Elliott Bay
waterfront, first opened in 1907. Pike Place remains
Seattle’s most popular tourist desination and the 33rd
most visited tourist attraction in the world, with over
10 million visitors annually.
Northgate
Seattle’s Northgate neighborhood’s dense mixed-use
development is expected to be completed by 2021.
This transformative location, fueled in part by Seattle’s
new NHL team headquarters, training facility, and
community ice rinks, is adjacent to the new Link Light
Rail Northgate station.
West Seattle
Seattle’s eclectic West Seattle neighborhood is a quick
drive or water taxi ride from downtown. It is home to
an array of amenities including one of the city’s most
popular outdoor recreation areas, Alki Beach.
THAT’S OVER HALF THETOTAL POPULATION OF
WASHINGTON STATE3.9m
SEATTLE-TACOMA-BELLEVUEMSA POPULATION
14.2%GROWTH SINCE 2010
60k NEW RESIDENTSANNUALLY (AVG)
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Expedia’s new $900 million HQ on Seattle’s waterfront opened in fall 2019. The site will house 4,500 Seattle metropolitan area employees as the company shifts operations from their Eastside Bellevue location to Downtown Seattle. Approvals are in place to continue future expansion to 8,000 employees at the campus.
Expedia, which spun out of Microsoft in 1999, is one of the world’s largest online travel companies. The brand umbrella includes Expedia, Hotels.com, Egencia, and Expedia Partner Solutions.
Google’s continued expansion in Seattle and Kirkland brings the total office space leased and owned to over 2 million square feet. Google currently has 4,500 employees in the region and its real estate portfolio gives the tech giant room for more than 10,000 people. Google is one of more than 130 companies from around the globe that have set up engineering centers in the Seattle area.
Google is a multinational technology company specializing in internet related services and products.
Facebook’s leasing velocity makes room for 23,700 new employees in the Seattle area, according to the 150 square feet per employee industry standard. Facebook’s recently signed lease includes 325,000 square feet in Block 6 of Bellevue’s Spring District. Facebook currently employs 5,000 people across Downtown Seattle, Bellevue, and Redmond. The projected headcount will easily exceed Facebook’s Silicon Valley offices, at approximately 15,000.
Facebook allows people to stay connected and share and express what matters to them. Other products and services owned by Facebook include Instagram, WhatsApp, Oculus, and GrokStyle.
Apple’s expansion in Seattle at 333 Dexter includes two 12-story office towers totaling 635,000 square feet, with room to house 4,200 employees. Seattle has become Apple’s hub for developing artificial intelligence and machine learning technologies.
The company designs, manufactures, and markets mobile communication and media devices as well as personal computers, and sells a variety of related software, services, accessories, and third-party digital content and applications. Apple is the world’s largest technology company by revenue and became the first public U.S. company to be valued at over $1 trillion.
EXPANDING TECH COMPANIES IN SEATTLE
WEST SEATTLE FLATS | PILOT VENTURES | 16
seattle
Amaz
on’s
SLU
Cam
pus
Jobs: Amazon has created more than 53,000 jobs in Seattle since 2010 and 11,393 new job postings as of January 2020, with 30% of those in AWS, Amazon’s flagship cloud business.
Multifamily Demand: Amazon’s job growth has impacted neighborhoods surrounding South Lake Union, Bellevue, and the greater Puget Sound region.
Evolving Skyline: Amazon’s growth, with 12 million square feet leased or owned, has shaped the skyline of Seattle and driven consistent demand in the multifamily sector. In addition, Amazon’s rapid expansion in Bellevue could reach 4.8 million square feet and power spectacular growth in the area’s suburbs.
AMAZON’S EMPLOYMENT TRENDS IN SEATTLE
AMAZON’S SEATTLE GROWTH IMPACT
5.0 K8.5 K
11.0 K
16.0 K
21.0 K
27.5 K
38.0 K40.0 K
45.0 K
53.0 K
0.0 K
10.0 K
20.0 K
30.0 K
40.0 K
50.0 K
60.0 K
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
WEST SEATTLE FLATS | PILOT VENTURES | 17
647,500 employees
131,000 employees 194,000 employees
291,000 employees 28,000 employees
74,000 employees 24,500 employees
23,376 employees 17,400 employees
9,300 employees 24,000 employees
In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $13.7 trillion in revenues, $1.1 trillion in profits, $22.6 trillion in market value, and employ 28.7 million people worldwide.
Washington state and the Puget Sound region are home to an array of Fortune 500 companies covering a variety of industries, including:
WASHINGTON STATE IS HOME TO 11 COMPANIES ON THE
2019 FORTUNE 500 LIST
Internet Services and Retailing
Technology
General Merchandisers
Food Services
Construction & Farm Machinery
Airlines
Transportation & Logistics
Forest & Paper Products
Industrial Machinery
WEST SEATTLE FLATS | PILOT VENTURES | 18
puget sound
Empl
oym
ent
Hub
sSouth Lake Union
South Lake Union is the heart of Seattle’s tech hub, home to Amazon’s headquarters and a variety of cutting-edge technology and biotech companies including Juno Therapeutics, Allen Institute and Fred Hutchison Cancer Research
Seattle’s CBD is home to major finance, legal, government and insurance companies with a total of 35 million of inventory and 874,000 square feet of positive absorption in the office sector
Bustling core packed with entertainment, restaurants and artsy attractions
First Hill / Pill Hill
Home to major healthcare facilities including Harborview, Swedish, and Virginia Mason
Seattle University, the largest independent university in the Northwest, with over 7,500 students enrolled
Tourist destination that provides a plethora of dining, shopping and entertainment opportunities
WEST SEATTLE FLATS | PILOT VENTURES | 19
Bellevue
The Eastside’s most sought after office submarket by tech companies including Amazon, Google and Facebook
Amazon has plans to add over 20,000 employees into this submarket by 2024
Downtown Bellevue has a current workforce of about 46,200 and is one of the top 100 most educated populations in the country
Redmond
World-renowned as the region’s hub for technological innovations
Home to Microsoft’s, SpaceX, Oculus (Facebook’s virtual reality headset division), and Nintendo of America
Microsoft expansion plans allow for up to 8,000 additional employees at its Redmond campus by 2023
Kirkland
Kirkland benefits from a high proportion of tech tenants including Google, Tableau, and GoDaddy
The downtown waterfront has an unparallel blend of public parks and beaches, fine dining, art galleries, and a performing arts center
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WEST SEATTLE FLATS
9044 35th Ave SW, Seattle, WA 98126Su
bmar
ket
Info
rmat
ion
seattle
The West Seattle Flats, ideally located in the Fauntleroy neighborhood of West Seattle, offer residents a desirable mix of suburban living and metropolitan amenities. Originally developed as a mixed-use condo building in 1981, the property is comprised of 8 spacious residential units situated above flexible commercial space.
The well-maintained property is well poised for growth in a rapidly changing and desirable submarket. West Seattle is considered one of the last urban sanctuaries in Seattle. While conveniently close to downtown, the neighborhood maintains its small town feel due to its location on the West Seattle Peninsula which stretches along the Puget Sound.
The spacious unit interiors feature comfortable amenities like fireplaces and balconies. The interiors have been tastefully updated. Recent improvements include in-unit washer/dryers, updated cabinets, laminate hardwood floors. Additionally, new hot water heaters were installed in 2018 and new energy efficient dual pane windows were installed throughout in recent years. The property consists of three 1-bed /1-bath units, five 2-bed / 1-bath units, 1,700 square feet of flexible commercial space, and an approx. 200 square foot storage area. The top floor units have vaulted ceilings and there are 12 off-street parking spaces in the back. Additionally, the 7,200 square foot parcel was recently upzoned to NC2P-55 (M), providing considerably more development potential.
The building offers residents convenient access to retail, easy access to the city, and plentiful outdoor recreation and entertainment options. The property was given a walk score of 81 which designates a ‘very walkable’ location. Westwood Village with Target, QFC, 24 Hour Fitness, and many others major retailers is located just 5 blocks east. Lincoln Park, with miles of beachfront trails and stunning views, sits less than a mile west of the apartments. Commuting is made easy with the C bus line within feet, fast access to Highway 99 and I5, and Downtown Seattle only a 15-minute drive away.
1981 Construction
Spacious floor plans
In-unit W/D
Units have hardwood floors and updated cabinets
Windows and hot water heaters replaced throughout
Units have balconies and fireplaces
4 tuck-under and 8 surface parking spaces
5 blocks to Westwood Village (Target, QFC, 24 Hour Fitness)
Nearby transit and 15 minute drive to CBD
Walk score 81 (very walkable)
Upzoned to NC2P-55 (M)
Ability to increase rents 24% to market on turnover
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PROPERTY HIGHLIGHTS
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EA
T +
DR
INK 1 C&P Coffee Company
2 New Luck Toy
3 Pho Aroma
4 Northwest Wine Academy
5 Fonda La Catrina
6 Ciudad
7 Lowercase Brewing
8 The Bridge
9 Zeeks Pizza
10 Katsu Burger
11 Caffe Ladro
12 The Westy
13 Tin Dog Brewing
14 Loretta’s Northwesterner
15 Endolyne Joe’s
16 Zippy’s Giant Burgers
17 Crawfish House
18 Dubsea Coffee
1 West Seattle Golf Course
2 Fauntleroy Park
3 Glen Acres Golf & Country Club
4 Rainier Golf & Country Club
1 West Seattle Thriftway
2 Walgreens
3 The Home Depot
4 QFC
5 Westwood Village
6 Safeway
7 McLendon Hardware
8 Castillos Supermarket
1 24 Hour Fitness
2 InUrLane Fitness
3 Full Range Fitness
4 The Heart Center Yoga
5 Viha Aerial Yoga
6 Brace Point Pilates
7 Innate Vitality Pilates
8 Antares Wellness
RE
CR
EA
TIO
NS
HO
PP
ING
WE
LNE
SS
WEST SEATTLE
WALKSCORE.COM
81 56553
2
FAUNTLEROY | West Seattle | 98126
FAUNTLEROY
1
2
3
4 5
6 7
8
910
11
12
13 14
15
16
1718
12
5
6
7
8
3
4
1
1
2
3
4
5
6
4
78
2
PUGETSOUND
BELLEVUE 35
MINUTES
MERCERISLAND
30 MINUTES
LAKEWASHINGTON
LOCAL ACCESS MAP
FACTORIA 32
MINUTES
LAKESAMMAMISH
RENTON 28
MINUTES
SEATTLE 15
MINUTES
GEORGETOWN 10
MINUTES
TUKWILA 20
MINUTES
SEA-TAC 21
MINUTES
WEST SEATTLE FLATS | PILOT VENTURES | 24
FINANCIALS
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* Unit square footages are estimated
RENT ROLL
UNIT Type Approx SF Current Rent Current / SF Market Rent Market / SF
101 1 Bd / 1 Bth 605 $ 1,300 $ 2.15 $ 1,550 $ 2.56
102 2 Bd / 1 Bth 984 $ 1,400 $ 1.42 $ 1,950 $ 1.98
103 1 Bd / 1 Bth 821 $ 1,400 $ 1.71 $ 1,750 $ 2.13
201 2 Bd / 1 Bth 984 $ 1,650 $ 1.68 $ 1,950 $ 1.98
202 2 Bd / 1 Bth 984 $ 1,600 $ 1.63 $ 1,950 $ 1.98
203 1 Bd / 1 Bth 605 $ 1,325 $ 2.19 $ 1,550 $ 2.56
301 2 Bd / 1 Bth 984 $ 1,600 $ 1.63 $ 1,950 $ 1.98
302 2 Bd / 1 Bth 984 $ 1,600 $ 1.63 $ 1,950 $ 1.98
100 Office Commercial 1,700 $ 1,750 $ 1.03 $ 2,500 $ 1.47
8,651 $ 13,625 $ 1.67 $ 17,100 $ 1.98
WEST SEATTLE FLATS | PILOT VENTURES | 27
CURRENT PRO FORMA
Gross Potential Rent $ 163,500 $ 205,200
Vacancy $ (8,175) 5.00 % $ (10,260) 5.00 %
NET RENTAL INCOME $ 155,325 $ 194,940
OTHER INCOME
RUBS $ 0 $ 8,100
Misc $ 0 $ 600
Total Other Income $ 0 $ 8,700
EFFECTIVE GROSS INCOME $ 155,325 $ 203,640
EXPENSES
Property Taxes $ 21,019 $ 21,920
Insurance $ 5,500 $ 5,500
Utilities: W / S / G / E $ 13,800 $ 13,800
Maintenance & Repairs $ 6,300 $ 6,750
Resident Management $ 11,979 $ 11,200
Reserves $ 2,250 $ 2,250
Admin / Misc $ 500 $ 500
Landscaping $ 0 $ 1,000
Total Expenses $ 61,348 $ 6,816 / Unit $ 62,920 $ 6,991 / Unit
NET OPERATING INCOME $ 93,977 $ 140,720
FINANCIAL ANALYSIS
COMPARABLES
Property Address Building Name Units Price Sale Date Price/Unit Price/SF Cap Rate Year Built
1 6708 California Ave SW Morgan Junction 6 6 $ 2,000,000 9/25/19 $ 333,333 $ 310 4.10 % 2006
2 9043 35th Ave SW Rogene Apartments 13 $ 2,935,000 3/12/20 $ 225,769 $ 368 5.35 % 1959
3 5212 California Ave SW Sunset Manor 19 $ 5,150,000 12/17/19 $ 271,053 $ 362 4.44 % 1969
4 8857 Delridge Way SW Westbrook Apartments 17 $ 4,130,000 12/18/19 $ 242,941 $ 377 5.33 % 1962
5 6001 California Ave SW West Aires 8 $ 2,500,000 7/15/19 $ 312,500 $ 338 4.04 % 1953
AVERAGES $ 277,119 $ 351 4.65 %
WEST SEATTLE FLATS | PILOT VENTURES | 29
1 2 3 4 5
SALES COMPARABLES
WEST SEATTLE FLATS | PILOT VENTURES | 30
WEST SEATTLE
MORGAN JUNCTION 6
6708 California Ave SW
ROGENE APARTMENTS
9043 35th Ave SW
SUNSET MANOR
5212 California Ave SW
WESTBROOK APARTMENTS
8857 Delridge Way SW
WEST AIRES
6001 California Ave SW
11
22
33
44
55
PUGETSOUND
SALES COMPARABLES
FAUNTLEROY
11
22
33
44
55
WEST SEATTLE FLATS | PILOT VENTURES | 31
WEST SEATTLE FLATS9044 35th Ave SW
Units 9
Net Rentable SF 8,651
Year Built 1981
Laundry In-Unit
Parking 9 Surface Stalls
Sale Details
Sale Date TBD
List Price $ 2,500,000
Price Per Unit $ 277,778
Price Per SF $ 289
Cap Rate 3.86 %
SUBJECT Notes
• (5) 2 bd / 2 bth units (984 SF)• (3) 1 bd / 1 bth units (677 average SF)• Updated cabinets and laminate
hardwood floors• In-unit W/D, balconies, and fireplaces• 12 off street parking spaces
SALES COMPARABLES
1
2
MORGAN JUNCTION 66708 California Ave SW
Units 6
Net Rentable SF 6,443
Year Built 2006
Laundry In-Unit
Parking 6 Garage Spaces
Sale Details
Sale Date 9/25/19
List Price $ 2,000,000
Price Per Unit $ 333,333
Price Per SF $ 310
Cap Rate 4.10 %
Notes
• 2 bd / 1 bth units (1,074 average SF)• 2006 construction• Laminate counters, carpet, In-unit W/D
ROGENE APARTMENTS9043 35th Ave SW
Units 13
Net Rentable SF 7,976
Year Built 1959
Laundry Common
Parking 10 Surface Stalls
Sale Details
Sale Date 3/12/20
List Price $ 2,935,000
Price Per Unit $ 225,769
Price Per SF $ 368
Cap Rate 5.35 %
Notes
• 85% 1 bd / 1 bth units (613 average SF)• Renovated kitchens and bathrooms• Income stabilized
WEST SEATTLE FLATS | PILOT VENTURES | 32
4
5
WESTBROOK APARTMENTS8857 Delridge Way SW
Units 17
Net Rentable SF 10,944
Year Built 1962
Laundry On-Site
Parking Carport & Surface
Sale Details
Sale Date 12/18/19
List Price $ 4,130,000
Price Per Unit $ 242,941
Price Per SF $ 377
Cap Rate 5.33 %
Notes
• 76% 1 bd / 1 bth units (643 average SF)• Laminate countertops• Stainless steel appliances & LVT flooring
WEST AIRES6001 California Ave SW
Units 8
Net Rentable SF 7,386
Year Built 1953
Laundry Common
Parking 5 Surface Stalls
Sale Details
Sale Date 7/15/19
List Price $ 2,500,000
Price Per Unit $ 312,500
Price Per SF $ 338
Cap Rate 4.04 %
Notes
• 2 bd and 3 bd floorplans• Original unit interiors
3 SUNSET MANOR5212 California Ave SW
Units 19
Net Rentable SF 14,240
Year Built 1969
Laundry Common
Parking 39 Surface Stalls
Sale Details
Sale Date 12/17/19
List Price $ 5,150,000
Price Per Unit $ 271,053
Price Per SF $ 362
Cap Rate 4.44 %
Notes
• 90% 1 bd / 1 bth units (695 average SF)• Mixed-use building - 2 commercial
tenants (340 total SF)• Granite counters with original cabinets,
appliances, and carpet
SALES COMPARABLES
WEST SEATTLE FLATS | PILOT VENTURES | 33
Property Address Building Name Unit Type Unit SF Rent Rent /SF
1 7524 35th Ave SW Hill Crest 1 Bd / 1 Bth 500 $ 1,860 $ 3.72
2 2615 SW Barton St 2615 SW Barton St 1 Bd / 1 Bth 564 $ 1,595 $ 2.83
3 9020 35th Ave SW The Hurricane 1 Bd / 1 Bth 638 $ 1,595 $ 2.50
4 9051 20th Ave SW The Blue Stone 1 Bd / 1 Bth 748 $ 1,750 $ 2.34
AVERAGES 613 $ 1,700 $ 2.85
RENT COMPARABLES
1 2 3 4
Property Address Building Name Unit Type Unit SF Rent Rent /SF
1 7524 35th Ave SW Hill Crest 2 Bd / 2 Bth 760 $ 2,257 $ 2.97
5 2200 SW Barton St Westwood Vista 2 Bd / 1 Bth 850 $ 1,875 $ 2.21
6 2201 SW Holden St Westhaven Apartments 2 Bd / 1 Bth 850 $ 1,995 $ 2.35
7 7901 Delridge Way SW Lighthouse Apartments 2 Bd / 1 Bth 954 $ 2,050 $ 2.15
AVERAGES 854 $ 2,044 $ 2.42
5 6 7
WEST SEATTLE FLATS | PILOT VENTURES | 34
DELRIDGE
HILL CREST
7524 35th Ave SW
2615 SW BARTON ST
2615 SW Barton St
THE HURRICANE
9020 35th Ave SW
THE BLUE STONE
9051 20th Ave SW
WESTWOOD VISTA
2200 SW Barton St
WESTHAVEN APARTMENTS
2201 SW Holden St
LIGHTHOUSE APARTMENTS
7901 Delridge Way SW
11
22
33
44
RENT COMPARABLES
FAUNTLEROY
55
66
77
11
22
33
4455
66
77
OFFER GUIDELINESOFFER GUIDELINES
Pilot Ventures is pleased to announce
All questions and inquiries regarding tours and this opportunity should be addressed to the Pilot Ventures representatives listed herein. Pilot Ventures’ team will be available to assist prospective investors with questions upon their review of the offering. Investors will receive advanced notification of the bid deadline via email. Offers should include, at a minimum, the following:
• The purchase price, contingencies and closing date;
• The amount of earnest money deposit;
• The source of capital for down payment;
• A detailed timeline for the transaction;
• A brief overview of the Buyer’s qualifications.
WEST SEATTLE FLATS | PILOT VENTURES | 36
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Built upon trust and experience, Pilot Ventures was founded by principals Casey Zejdlik and Jason Kono.
Specializing in multifamily investments and property management services, our focus on long-term client success is at the core of everything we do.
At Pilot Ventures, our experienced team of industry professionals offer more than 50 years of creative investment expertise. We engage with every client in a goal-oriented manner to enhance their portfolio and maximize results.
Together, we don’t just build equity— we build relationships.
BrokerageWhether you’re buying or selling, our experienced team of brokers will ensure you receive the best possible representation.
SyndicationOur firm’s financial expertise and professional management allows individuals, families, partnerships and trusts to invest in income producing properties without worrying about the day-to-day operations. We provide a full-service approach to every stage of your multifamily real estate investment.
ManagementManaging properties can be an overwhelming experience— in working with Pilot Ventures, we help streamline processes and systems to maximize your cash flow and ROI.
pilotNW.com
Brokerage / Syndication / Management