Hundreds of Seattle micro-apartments are for sale. Will rents go up?

[brooklynite]

Seattle Times

The financial stability of hundreds of Seattle tenants is on the line as public and private players vie for nearly two dozen apartment buildings that have been on the market since this summer.

The entire portfolio of finished aPodment-branded micro-apartment buildings is for sale, a total of 23 properties and 1,402 apartments from Northgate to the Central District. Built by Calhoun Properties, the apartments average 177 square feet and rent for an average of $921, including internet and utilities, according to the brokers listing the buildings. Typical studio and one-bedroom apartments in Seattle go for around $1,500 to $1,700.

As Seattle-area rents have climbed, the apartments offer a rare bit of affordability for some hourly workers. Baristas making the top end of Seattle’s minimum wage, $17.27, could roughly afford the average aPodment rent without spending more than a third of their income, if they were able to work 40 hours a week.

Micro-apartments also come with trade-offs. Some units have kitchenettes, while others have a sink and access to a shared kitchen in the building. Although some apartments are a bit roomier, the most affordable units are more like dorms, with room for a twin bed and desk.

[leftstreet]

1. 177 sq ft? Seattle has bigger jail cells

so I've heard

[lindysalsagal]

2. I remember hearing about these. I hope they're not a trap

That bring crime and misery. I'd like to see someone pull off a success with this.

[brooklynite]

3. They look nice

Most are in Capitol Hill

[MichMan]

5. Why would they bring crime and misery?

[lindysalsagal]

6. Low income housing, aka "The Projects" can become nightmarish when

one group gets it started and then leaves office and the next group all but abandons it.

[Twoflower]

4. I lived in one in the mid 90's. Third and Bell street. I was in the Navy and the rent was $300.

[GenThePerservering]

7. I know what the projects are like

this is not 'the projects'. They're small, more affordable apartments in a city where people are living on top of each other, three to a one bedroom unit, to just be able to afford it and not be shunted to some faceless suburb and condemned to a terrible commute to their job.