Rare opportunity to acquire a senior housing campus or a transformative multifamily redevelopment and land assemblage in the heart of West Seattle's Fauntleroy neighborhood.
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A Rare West Seattle Assemblage
The Kenney presents a rare opportunity to acquire a senior housing campus or a transformative multifamily redevelopment and land assemblage in the heart of West Seattle's highly desirable Fauntleroy neighborhood. Offered through a receivership sale, the property combines significant near-term value-add potential with long-term redevelopment optionality in one of Seattle's most supply-constrained residential submarkets.
Currently improved with four residential buildings totaling 151 units, the property offers a diverse unit mix including studios, one-bedroom, and two-bedroom units. Diligence materials include an architectural study and a revised 130-unit repositioning rent roll prepared by Cdfey Architects, providing a clear path toward a multifamily repositioning strategy at no additional cost to the buyer.
Largest multifamily land assemblage available in West Seattle, allowing for potential redevelopment – creating a compelling option for investors seeking a new opportunity
Redevelopment Paths
Five parcels, potentially independently financeable, support phased redevelopment, refinancing, partial disposition, or portfolio segmentation through an established boundary line adjustment framework.
Zoning & Entitlements
The pending Centers & Corridors rezone is expected to unify the assemblage under LR3(M) FAR 2.5 zoning, adding approximately 18,500 SF of development capacity. The Morgan Junction Urban Center designation waives off-street parking requirements.
Historic Tax Credit
The Seaview building may qualify for a 20% Federal Historic Tax Credit, with an estimated $680,000–$720,000 in syndicated equity available upon National Register certification. City of Seattle Landmark designation is already in place.
Why Invest
Investment Highlights
A compelling combination of scale, location, redevelopment flexibility, and long-term land value.
Incredible West Seattle / Lincoln Park location. Adjacent to Lincoln Park, blocks from Fauntleroy/Morgan Junction restaurants and shops, roughly 1.5 miles to West Seattle Junction, and a ±25-minute drive to Downtown Seattle's employment and entertainment core.
±3.7 contiguous acres. Largest multifamily land assemblage available in West Seattle — physically impossible to replicate.
Five parcels, potentially independently financeable. Boundary line adjustment framework supports portfolio sale, staged disposition, or individual asset refinancing.
Multiple execution paths. Continue senior housing operations, convert to 130 multifamily units per the completed Cdfey Architects study, develop townhomes, or land-bank for future density.
Renovation upside on three of four buildings. No landmark or historic restrictions on Ballymena, Lincoln Vista, or Sunrise — full flexibility for renovation and repositioning.
Federal Historic Tax Credit potential. Approximately $680,000–$720,000 in syndicated equity available on the Seaview building upon National Register certification.
Transit-oriented, parking-flexible location. Located on RapidRide bus transit line with direct access to Downtown Seattle. Off-street parking requirements waived, with room to expand campus parking from 60 to approximately 100 spaces.
Property Overview
Property Details
SAK West Seattle, LLC
Court-Appointed Receiver
7125 Fauntleroy Way SW
Seattle, WA 98136
West Seattle / Morgan Junction
±3.67 Contiguous Acres
151
131 operating capacity; gap reflects 5 IL units under construction and 8 offline Memory Care units
Seaview, Sunrise, Lincoln Vista, Ballymena + Grounds
Originally 1909; multiple additions through 2000s
Independent Living (IL) / Assisted Living (AL) / Memory Care (MC)
5 Separate Legal Parcels
LR3(M) FAR 2.5
Pending Centers & Corridors rezone
±60 stalls current; potential to expand to ~100
Receivership Sale
Execution Path
Multifamily Conversion
In addition to continuing operations as a senior housing community, the property supports a compelling multifamily repositioning strategy. Cdfey Architects has prepared a 130-unit repositioning study, primarily 2-bedroom with 1.5- or 2-bath configurations, included in the diligence package at no additional cost to the buyer.
The pending Centers & Corridors rezone to LR3(M) FAR 2.5 would add approximately 18,500 SF of development capacity across the Seaview and Sunrise buildings. The Seaview-adjacent pad site supports either 37 new surface parking stalls or approximately 11 for-sale townhomes over podium parking. Five parcels, potentially individually financeable, provide exceptional flexibility for phased execution, staged disposition, or individual asset refinancing.
West Seattle
Location
Five miles southwest of Downtown Seattle, West Seattle delivers an irreplaceable combination of Puget Sound views, walkable neighborhoods, and direct access to the region's largest employment centers.
Neighborhood
The property sits at 7125 Fauntleroy Way SW, adjacent to Lincoln Park, one of Seattle's most beloved green spaces with over 4.6 miles of trails and over 300 feet of beachfront accompanied by nearly 1 mile of sidewalks along Puget Sound. The surrounding Fauntleroy neighborhood draws professionals, families, and downsizing households seeking a quieter alternative to denser urban submarkets. Tree-lined streets, highly regarded schools, and proximity to the Fauntleroy Ferry Terminal (Vashon Island and Kitsap County) add to the area's enduring residential appeal. The Alaska Junction, West Seattle's vibrant retail and dining core, is approximately 1.5 miles away, with Whole Foods, Trader Joe's, and PCC all within close reach.
Employment
West Seattle's residential demand is anchored by one of the most concentrated tech and life sciences employment bases in the country. Amazon employs approximately 49,000 people across its Seattle campus, while Microsoft, Boeing, Google, and Meta each maintain a substantial regional presence. South Lake Union, home to Amazon's headquarters, the Fred Hutchinson Cancer Center, the Gates Foundation, and the UW Medicine Research Facility, is accessible in under 30 minutes. The Downtown Seattle Association's 2025 Economic Report noted a 47% increase in downtown jobs since 2010, underscoring the region's long-term employment trajectory.
Transportation
The property is served by the RapidRide C Line, positioned across the street and providing frequent, reliable bus rapid transit to Downtown Seattle, Westwood Village, and South Lake Union seven days a week. The West Seattle Bridge offers a direct connection to I-5 and SR-99. The West Seattle Light Rail Extension, currently in the design phase and targeted for 2032 completion, will add stations at Delridge, Avalon, and the Alaska Junction, further strengthening connectivity to the broader Sound Transit network. SEA-TAC International Airport is approximately 30 minutes by car. Under its Morgan Junction Urban Center designation, the property's off-street parking requirements are fully waived by code given its transit-oriented location.
Access Documents
Due Diligence
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Exclusively Listed By
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals across 19 offices in Washington, Oregon, California, Nevada, and Arizona. For more information, visit kidder.com.
Blake Investment Advisors is a Seattle-based multifamily advisory and brokerage firm specializing in the acquisition, disposition, and recapitalization of multifamily and mixed-use assets throughout the Pacific Northwest. For more information, visit blakeia.com.