Paramount 1 Apartments

For Sale

304 NE 152nd St. Shoreline, Shoreline, WA 98155

This Shoreline property for sale is located at 304 NE 152nd St. Shoreline. Contact the listing broker for details on the current sale price for Paramount 1 Apartments. Paramount 1 Apartments is situated on a lot that is 0.21 acre in size.

Contacts

broker

Edson Gallaudet

West Coast Commercial Realty LLC

broker

Jonathan Willett

West Coast Commercial Realty LLC

Property Details

  • Property Type Multi-Family
  • Property Size 19,809 SF
  • Units 35
  • Lot Size 0.21 Acre
  • Additional Rent Contact for pricing
  • # of Floors 7
  • Parking Spaces Avail. 20
  • Parking Ratio 1.01 / 1,000 SF
  • Property Tenancy Multi-Tenant
  • Year Built 2023
  • Date Updated Aug 28, 2024

Shoreline 35 Unit Multifamily Investment Opportunity

Finishing construction near the end of 2023, Paramount 1 is located in Shoreline, WA approximately 10 miles from downtown Seattle and 2 miles from Shoreline’s city center. Paramount 1’s residents will benefit from being within walking distance from the new light rail station which will be completed in 2024. It will grant them convenient access to downtown Seattle, SeaTac Airport, and the U-District, all while benefiting from a peaceful residential setting that offers an array of local amenities. By providing 7 affordable units to future tenants, Paramount 1 will be exempt from nearly all property taxes for the next 20 years.

WALK TO THE LIGHT RAIL: Light rail station on 145th street is just a short walk away. The light rail is scheduled to be completed in 2024 and will give new tenants access to all of Seattle.

PROPERTY TAX EXEMPTION: With the inclusion of seven affordable units, Paramount 1 qualifies for the Shoreline Multifamily Tax Exemption. The property will be exempt from property taxes for the next 20 years.

MARKET RENT GROWTH: Despite a slowdown in rent growth in Seattle in 2023, CoStar forecasts an increase of 4% in 2024, followed by a stable 3% growth rate in the subsequent years.

URBAN, AMENITY RICH LOCATION: Shoreline’s combination of excellent dining options, recreational spaces, and cultural activities, along with its central location, makes it a sought-after neighborhood for those who appreciate the convenience and vibrancy of city living.

CORPORATE NEIGHBORS. Buildings housing Amazon, Google, Facebook, and Apple dominate the landscape in nearby South Lake Union. New construction nearby includes a 17-story office leased to Amazon and 12-story office leased to Google. These two additional buildings alone bring another 10,000 employees to the neighborhood.

POPULATION GROWTH. Seattle has continued to grow while adding significant jobs in both tech and life science sectors, putting upward pressure on rent growth. 

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Getting around

  • 29/100

    Walk Score ®

  • 51/100

    Transit Score ®

  • 40/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Shoreline, WA
  • Neighborhood Ridgecrest
  • Zip Code 98155
  • Market Seattle

Points of Interest

  • NE 130th Street

    1.06 miles

  • Northgate

    2.51 miles

  • Brooklyn Avenue & 45th Street

    5.46 miles

  • U District

    5.48 miles

  • 43rd Street & Brooklyn Avenue

    5.52 miles

  • Edmonds

    5.66 miles

  • Fairview & Campus Drive

    7.72 miles

  • Westlake & Mercer

    7.98 miles

  • Terry & Mercer

    8.03 miles

  • Terry & Thomas

    8.17 miles

  • QFC

    0.79 miles

  • CHEVRON

    0.81 miles

  • Chevron

    0.89 miles

  • Shell

    1.12 miles

  • Safeway

    1.28 miles

  • Arco

    1.40 miles

  • Tesla Supercharger

    1.40 miles

  • 7-Eleven

    1.52 miles

  • Blink Charging Station

    1.90 miles

  • Electrify America Charging Station

    1.94 miles

  • Shoreline United Methodist Church Park and Ride

    1.15 miles

  • Sears Lot (Student Parking)

    1.19 miles

  • Visitor Parking

    1.59 miles

  • Staff Parking

    1.62 miles

  • Car Park

    1.66 miles

  • Student Parking

    1.69 miles

  • Lot E

    1.71 miles

  • Shoreline North/185th Station Garage

    1.71 miles

  • Comfort Inn & Suites

    1.11 miles

  • Nites Inn Motel

    1.84 miles

  • Hotel Nexus

    2.10 miles

  • Courtyard Seattle Northgate

    2.21 miles

  • Days Inn by Wyndham Seattle Aurora

    2.41 miles

  • Hampton Inn & Suites

    2.77 miles

  • Studio 6 Extended Stay

    2.90 miles

  • Columbus Motor Inn

    2.91 miles

  • Crown Inn

    2.97 miles

  • Econo Lodge Edmonds North Seattle

    3.09 miles

  • Enat Market

    0.69 miles

  • Safeway

    0.82 miles

  • QFC

    0.83 miles

  • Parkwood Plaza

    0.83 miles

  • Marshalls

    1.09 miles

  • Town & Country

    1.13 miles

  • US Food Chef's Store

    1.24 miles

  • Asian Family Market

    1.28 miles

  • Sprouts Farmers Market

    1.34 miles

  • Trader Joe's

    1.35 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Paramount 1 Apartments