Investment Overview

The Pacific Northwest Investment Sales Team of IPA has been retained as the Exclusive Listing Broker for the sale of Aperture on 5th, a 106-unit apartment community ideally located in Seattle’s Belltown neighborhood, just one block from Seattle Center and the iconic Space Needle.

Boasting a near-perfect Walk Score of 98 and a Transit Score of 91, Aperture on 5th is just steps from some of the city’s most popular coffee shops, restaurants, and bars. In addition, South Lake Union, arguably the strongest employment hub in the region, is within walking distance, with companies such as Amazon, Apple, Fred Hutch, Google, and Meta.

Aperture on 5th offers a near-perfect Walk Score of 98 and a Transit Score of 91, placing residents within steps of some of the city’s most popular coffee shops, restaurants, and nightlife destinations. Additionally, South Lake Union, one of the region’s strongest employment hubs, is within walking distance and home to major employers including Amazon, Apple, Fred Hutch, Google, and Meta.

Built in 2014, Aperture on 5th has been exceptionally well maintained and features a mix of studio, one-, and two-bedroom homes with modern finishes and amenities tailored to today’s renter. The offering presents an opportunity to acquire a stabilized asset with light value-add potential, with all units retaining their original finishes.

Prime Location & Ideal Walkability

Situated within walking distance of Seattle’s largest employers, including Amazon’s world headquarters, Google, Meta, and others. With a Walk Score of 98 and Transit Score of 91, residents are just one block from Seattle Center, Climate Pledge Arena, and the Space Needle.

Excellent Community Amenities

Rooftop terrace with sweeping views of the Olympic Mountains, Space Needle, and surrounding cityscape, complemented by outdoor grilling areas, fireside seating, and a full-size bocce ball court. Additional amenities include a resident lounge with gourmet chef’s kitchen, fitness center, bike storage, package lockers, pet wash area, and a secured underground parking garage.

Light Value-Add Opportunity

All units are well-positioned for light cosmetic upgrades to further enhance rental income. Potential improvements include technology packages, upgraded appliances, and installation of roller shades. Additional enhancements to common areas and hallways offer further upside.

Strong Economic Fundamentals

Located at the doorstep of Amazon, Meta, Google, and Allen Institute, and within South Lake Union’s rapidly expanding life science hub. The Lake Union submarket has delivered over 2 million square feet of purpose-built lab space, with major tenants including the Allen Institute for Artificial Intelligence, Seattle Children's Research Institute, and the University of Washington.

Attractive Unit Mix

Offering a collection of studio, one-, and two-bedroom homes averaging ±638 square feet. Well-appointed homes feature modern finishes, oversized windows, and electric fireplaces with west-facing units equipped with A/C ports.

Discount to Replacement Cost ‍

Offered at a significant discount to replacement cost. South Lake Union remains a high barrier-to-entry submarket due to limited land availability, extensive City of Seattle entitlement timelines, and rising construction costs.