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Built in 1910, this 57-unit Pioneer Square classic borders Seattle’s International District. The building had previously undergone significant renovations including copper plumbing, electrical, a new elevator, and torchdown roof. As of 2010, over $1 million was spent on unit renovations and common area improvements extending the building’s effective lifespan.


During the acquisition process the team recognized that seismically retrofitting the building could lead to significant upside. They negotiated the underlying rent restrictions and implemented an aggressive plan. In Q2 of 2017, the building was fully earthquake retrofitted, the rents were stabilized, and a fast-paced market set the partnership up for an early exit.

Seattle, WA


Multifamily 57 units

June 2014 – October 2017

Contact us to learn more about this deal  | 206.566.6609

150 Nickerson Street Suite 211
Seattle, WA 98109

+1 206 566 6609

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Pilot Capital is a registered trade name of Pilot Ventures LLC, a Washington limited liability company. All content available on this website is intended simply as an overview of Pilot Capital, a sample of its investments and a summary of financial performance, and does not purport to be complete and is for informational purposes only. For further information concerning Pilot, its business and investments, its track record performance and calculation of returns and assumptions regarding projected returns reported herein, please contact us. Past performance is not a guarantee of future results. Neither the website nor any of its content is offered as investment, legal, or tax advice or a recommendation to purchase any specific security. The information presented on this website may not be current or complete. Before making any decision to invest in Pilot or its affiliated entities, potential investors should carefully consider risk factors and other information available from Pilot regarding any particular investment, including a limited liability company operating agreement, the commercial and investment real estate purchase and sale agreement for a particular property and the project summary and pro forma information for a particular property. Investors are urged to consult with their own professional advisers before making any investment decision. An investment in real estate involves a high degree of risk and should be considered only by highly sophisticated persons who can bear the economic risk of loss and illiquidity.
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