Investors Are Buying Seattle Condos, Trust Me

We wrote a post a few months back about rising rents in Seattle and how the increase is attracting investors back to the market. We actually received some feedback from a few readers that didn’t believe this was the case  – I thought I would share a few examples (see below).

We hear from investors almost daily that are looking for condos to hold long term. I believe this trend will stay in place until too many rental units are built, or until we see an significant increase in pricing that starts to slow down investor demand.

On a national level, investment purchases nearly doubled in 2011 from a year earlier.

For those of you interested in buying a rental investment, we have a rent matrix we use to estimate a 5 and 10 year return. If your interested in learning more, contact us.

Escala – 1920 4th Ave 1705

Purchase price was $869,000
Now Renting for $3,950

 

Cristalla – 2033 2nd Ave #1107

Purchase price was $312,000
Now Renting for $2,450

 

The PARC – 76 Cedar Street #808

Purchase price was $320,000
Rented for $2,400