Property investment requires thought, research, and care when choosing a location and a property to add to your portfolio. If you’re considering an investment in Bellevue, the neighborhood you choose can affect rates, cost of living, potential tenants, amenities, and much more. In our Go Local! series, we’ll take you through the best of local neighborhoods in Seattle and surrounding areas, so you can make an informed decision on purchasing and marketing your investment property.
In this month’s Go Local! we’re covering Wilburton, a small but vibrant area located in the heart of Bellevue.
Wilburton, Bellevue
Wilburton’s population of 3,966 makes it a modest area with a population per mile of roughly half that of greater Bellevue. The area’s rich history is balanced with modern development including some of the largest, most beautiful parks in the Seattle area, making it an attractive place to live, culturally and physically. Wilburton’s history also dates back to First American settlements, but the town itself grew around a logging camp founded by Civil War veteran Clark Sturtevant. The logging camp eventually became a sawmill, which drew other businesses and the railroad. Today, none of the original survives, but Wilburton has grown into a small town, and into a thriving neighborhood of Bellevue.
While the majority of Wilburton is dedicated to single and multi-family homes, multiple light industrial projects and businesses take up the southern end of the neighborhood. Bel-Red lies between downtown Wilburton and Redmond’s Overlake and is zoned for mixed-use development, primarily aimed at East Link Stops, and areas including Goff Creek, West Tributary, and Lake Bellevue. An art district, multiple shops, and other recreational additions are in development for the area.
This mix of industry and single family homes leads to an extremely diverse neighborhood, where the development and land usage depend on where you are in the city. Commerce and developments are easy to find for commercial investments along 120th, and housing developments, condos, and apartments are quickly filling up other areas
Parks and Recreation
Wilburton is home to multiple historic landmarks as well as parks, trails, and activities. This makes the area ideal for marketing to families who need entertainment and outdoor activities for children. Most notably, Wilburton is home to Bellevue’s Botanical Gardens, the 160-acre Kelsey Creek Park, and the Wilburton Hill Park. The city is also home to several trails and bike trails, although not as many as nearby areas, making it more friendly for car commuters than for public transport or biking.
Wilburton Trestle – The Trestle is a famous landmark in Wilburton, and at 102 feet high and 975 feet long it is the longest wooden trestle in the Pacific Northwest.
Schools
While Wilburton is only home to two schools, the International School and the Three Cedars Waldorf School, it is nearby to multiple top rated schools, and some of the highest rated in the state. This is also a great way to market to families moving into the area. Some of the local schools include public schools Wedgewood Elementary, the International School, Interlake Senior High School, Mercer Island School, and Redmond High School. However, with over 20 local public schools, there are a lot of offerings for most parents. Local private schools include the Emerald Heights Academy, the New Horizon School, the French American School of Puget Sound, the Hillside Student Community, and Carden Country School.
Population
Wilburton primarily appeals to middle income families, and as a result, the area has a high population of middle aged residents and residents under the age of 18. For this reason, some 57% of the population owns rather than rents their residence, which is normal for the area. However, with apartment and condo developments in the north and east of the neighborhood, rentals are on the rise. Wilburton also has a higher average rental rate than the greater Seattle area. To balance this, some 34% of the population earn between $75,000 and $125,000.
Wilburton is a middle class neighborhood with a lot to offer for investors and residents alike thanks to it’s mix of developments, family friendly parks and trails, quality school districts, and crime free neighborhoods. It’s also located nearby to the industrial and technological sectors in Redmond and Kirkland, meaning that many of the residents work in high end local jobs and commute to work.
If you want to know more about investing your property in the Bellevue area, keep following us to catch up on more local neighborhoods, or contact SJA Property Management for a free quote on your investment.