Colliers has arranged the $17.5 million sale of 6700 Roosevelt, an 88-unit multifamily community located directly across from the Roosevelt light rail station in Seattle’s Roosevelt neighborhood. The transaction involved the sale of an existing apartment property positioned immediately adjacent to high-capacity transit in a walkable, amenity-rich area.
Coverse Capital Investments acquired 6700 Roosevelt from 6700 Roosevelt LLC. Colliers’ senior vice president Sam Wayne, along with associates Dylan Luxenberg and Reed Gustavsen, represented the seller and also sourced the buyer in the transaction. Wayne noted that with the high cost of ground-up development, investors are increasingly focused on well-located older assets, and he characterized 6700 Roosevelt as benefiting from a particularly strong location.
Built in 1988, 6700 Roosevelt is situated on a 0.7-acre corner site at 6700 Roosevelt Way NE. The community consists of large studio, one-bedroom and two-bedroom apartments, and units include private decks, providing outdoor space for residents. The vintage of the asset places it in an older cohort of multifamily properties relative to newer construction in the market, while its scale and location support continued institutional and private capital interest.
The property is positioned three blocks from a Whole Foods Market, offering residents convenient access to grocery and daily needs. It is also located near Green Lake Park, a major recreational amenity in the area, as well as the Roosevelt neighborhood’s dining and shopping options. This combination of neighborhood retail, open space and transit access reinforces the property’s appeal within its submarket.
The Roosevelt light rail station directly across from the community provides regional connectivity to key employment and education nodes. From the station, riders can reach the University of Washington, downtown Seattle and downtown Bellevue, linking residents to major job centers and campuses without reliance on driving. This transit access is a defining feature of the asset’s competitive position.
The sale of 6700 Roosevelt illustrates ongoing investor appetite for existing multifamily properties in transit-served urban neighborhoods, particularly where replacement costs for new development remain elevated. While specific operating metrics such as cap rate and occupancy were not disclosed, the closing underscores continued capital flows into well-located multifamily communities in Seattle’s Roosevelt submarket.
