Sunset View2101 SW Sunset Blvd Renton, WA 98055
Meter partnered with Property Income Advisers to purchase Sunset View for 33 million. The property, located in Renton Washington, is currently undergoing an extensive interior and exterior renovation including adding W/D to each apartment home.
Meter purchased the asset due to its proximity to major job centers. Sunset View is only 15 minutes from Seattle which is an ideal spot for those fleeing the high rents of Seattle. The units have large square footage, many with views. In addition to the unit renovations, we are executing the renovation of the amenity space, transforming it to one of the best indoor and outdoor amenity packages in South King County.
The property was recently refinanced and we have returned 28 percent of our investor’s original equity. We are now executing phase two of our renovation plan.