Investing in property requires that you know a lot about that property, mainly because you’ll have to make a lot of decisions regarding where to invest, how to market your property, and who to rent to. In our Go Local! Series, we aim to give local property investors an up close look at local neighborhoods in Seattle, Kirkland, Bellevue, Redmond, and other parts of the Puget Sound area. In this article, we’ll cover West Bellevue and Downtown, which is known for its high density population, stunning views, and a thriving regional retail center.
West Bellevue holds the unique claim of being the first settled part of Bellevue. Its first residents, William Meydenbauer and Aaron Mercer, built log cabins on the shore of Lake Washington in 1869, and the two settler’s claims took up much of the area that is now Downtown today. The Lake Washington Ship Canal opened in 1917, bringing commerce, economy, and more settlers into the region, when the city become a port for the American Pacific Whaling Fleet, until it was shut down during World War 2. Today, the port is largely recreational, but with two bridges including the Lake Washington Floating Bridge and the Evergreen Point Bridge connecting Bellevue to Seattle, West Bellevue remains a transportation and economic hub of the Eastside.
Bellevue is a study in contrasts, complete with parks, shopping malls, restaurants, Old Bellevue, Lake Washington, single family residents, and high rise rentals. As a result, it attracts many people who want the best of both the city and the outdoors, and is home to a number of high profile professional athletes, individuals like Microsoft CEO Steve Ballmer, and is a frequent stop for tourists and visitors. This also makes it easy to rent out both vacation homes, long-term rentals, and apartments in the area depending on your investment preference.
Parks and Recreation
West Bellevue is home to multiple parks including Ashwood Park, Meydenbauer Beach Park, Goddard Park, Sixth Street Park, Downtown Park, Chism Beach Park, Enatai Park, Killarney Glen Park, Surrey Downs Park, Wildwood Park, and Mercer Slough Nature Park. Plus, with easy access to over 20 long trails that run through the region, there is plenty for families and sportsmen who like to enjoy the outdoors. In addition, Downtown has a lot to offer in terms of shopping at Bellevue Square, popular local restaurants like Monsoon East and Cantinetta.
Bellevue is home to some of the best schools in the region, and a few of those are located right in West Bellevue. Schools like the Bellevue High School, the Enatai Elementary School, Western Seminary Seattle Teaching Site, and several more, plus access to many of the schools in the wider Bellevue region.
West Bellevue is home to some 11,488 people, making up some 11% of the total city population, and including a wide range of residents. Where much of Bellevue is dedicated to single family residences, West Bellevue houses high rise apartment buildings, multi-family homes, and many other types of living, which makes rent rates and pricing more diverse. Sale prices are often extremely high, with most homes selling for $300,000-$750,000, so rental is an attractive alternative for singles, newcomers, and new talent brought in to work at Microsoft, Amazon, or one of the other tech giants in the area.
West Bellevue is home to a diverse array of people including families, singles, and couples, and an even more diverse landscape, with urban malls set next to forest landscapes and the wide open water of Lake Washington. The city is well known for it’s friendly residents, and was named one of the best neighborhood in Seattle by the Seattle Magazine in 2013. Investing in the area can also be profitable, especially if you have the capital to invest in apartment complexes, but even if you’re hoping to rent out your home, you can still benefit from high rental rates and a high demand for property.
If you’re getting started with real estate investment, you may want to consider a property management company. SJA Property Management works right in Bellevue, and can help you to market, fill, manage, and take care of your property.