Honeysuckle Apartments, a 30-unit multifamily property located at 202 19th Avenue East in Seattle’s Capitol Hill neighborhood, has sold for $5,930,000. Dylan Simon, Jerrid Anderson, and JD Fuller of the Simon | Anderson Multifamily Team at Kidder Mathews represented the seller, a private ownership group. The team also sourced the buyer, a group of affordable housing investors including Great Expectations SPC, a Seattle-based Social Purpose Corporation focused on affordable housing.
Honeysuckle has been providing low-income seniors from the Central Area community with affordable homes for seniors for nearly 50 years. It’s 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.
“This was a rare opportunity to acquire a well-located property with both legacy ownership and a meaningful purpose,” said Fuller. “We’re proud to have helped facilitate a transaction that supports long-term affordability in one of Seattle’s most desirable neighborhoods.”
“We are honored to steward the next chapter of Honeysuckle Apartments,” said Ben Maritz, Managing Director of Great Expectations SPC. “Our Social Purpose Corporation structure commits us to delivering both community benefit and financial sustainability, and this property is a perfect example. By partnering with Root and Branch, we will be able to provide not just homes, but also supportive resources for seniors to thrive in place.”
About the Simon | Anderson Multifamily Team
The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents apartment investors, developers, and landowners in the sale and purchase of apartment buildings and development land across the entire State of Washington. The team of 12 brokerage professionals specializes in the sale and purchasing of apartment buildings and development land from $1 million to more than $100 million. For more information, visit simonandersonteam.com.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 20 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 58 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
About Great Expectations SPC
Great Expectations SPC is a Seattle-based Social Purpose Corporation dedicated exclusively to creating and preserving affordable housing. Founded in 2019, the company has grown to own and operate more than 3,300 homes affordable to households earning 40–80% of area median income. By blending private capital with public programs such as HUD subsidies, tax-exempt bonds, and tax credits, Great Expectations delivers below-market rents alongside stable, long-term returns for its investors.
About Root and Branch
Root and Branch is a Seattle-based nonprofit organization (501c3) committed to supporting older adults and vulnerable residents. Through on-site services, connections to community resources, and resident engagement, Root and Branch helps ensure that affordable housing is not only stable, but also supportive of residents’ health and wellbeing.
