Investment Summary
Site: 0.45 Acre Site Assemblage
4023 SW Graham Street / 6308 & 6314 41st Ave SW, Seattle, WA 98136
StoryBuilt is pleased to offer the opportunity to invest up to $2,500,000 of limited partner equity to fund the acquisition and pre-development activities through construction start. Investors will receive a 12% fixed preferred return, annualized, based on an anticipated 18-24 month duration period.
Morgan Junction will be a 36 stacked townhome community in the heart of West Seattle. The site is located approximately 5 miles southwest of downtown Seattle and only 2 blocks from the California Avenue commercial corridor. Homes will range from 450 – 1,300 square feet, with prices from $430,000 – $730,000. The project will carefully and thoughtfully maximize density on the site. Direct pedestrian access, shared outdoor space, and views are prime considerations to maximize value for the residents.
Market Highlights
West Seattle provides convenient access to the Seattle CBD without the congestion present in other close-in Seattle neighborhoods. Multi-modal access options will include the Metro C line rapid ride, ST3 light rail expansion at Alaska Junction (by 2036), connected bike lanes, and local bus service. Boeing and Sea-Tac airport are close by and easily accessed by car or bus.
West Seattle is an increasingly popular neighborhood for young families wanting an urban lifestyle in a family-friendly, relatively affordable environment. The area offers a wide variety of parks, food, retail, and cultural amenities. With destinations such as Alki Beach, Lincoln Park, Camp Long, and the West Seattle Golf Course, West Seattle offers unparalleled opportunities to experience the outdoors without leaving the city.
