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9/03/25
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Honeysuckle Apartments, a 30-unit multifamily property in Seattle’s Capitol Hill neighborhood was acquired for $5.93 mil ($198k/unit) by a group of affordable housing investors including Great Expectations SPC, a Seattle-based Social Purpose Corporation focused on affordable housing. The asset, located at 202 19th Ave, was sold by a private ownership group.
Honeysuckle has been providing low-income seniors from the Central Area community with affordable homes for seniors for nearly 50 years. The property had been owned by the family of the original developer up until this point.
The new owner, in partnership with local nonprofit Root and Branch, will renovate the building and continue providing deeply affordable housing for elderly and disabled residents. The transaction included private equity, new Freddie Mac financing, and the assumption of a long-term HUD Housing Assistance Payments (HAP) Section 8 contract, ensuring lasting affordability and stability for the community.
Dylan Simon, Jerrid Anderson, and JD Fuller of the Simon | Anderson Multifamily Team at Kidder Mathews represented the seller and also sourced the buyer in the deal.
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