An eight-story luxury apartment building in Belltown, Elara at the Market at 2134 Western Ave, is for sale, offering about 150 rental units with condo-quality finishes and a rooftop lounge. The building, which opened in 2018, targets renters seeking waterfront and downtown access with high-end amenities.
Brokers have been hired to market the property to institutional investors as a downtown investment opportunity. The listing appeared this week, aiming to attract buyers interested in stable, high-end rental assets, as reported by Puget Sound Business Journal.
What's being offered
Listing materials from Simon | Anderson describe Elara at the Market as an eight-story, 150-unit multifamily property with roughly 103,036 net rentable square feet and about 142 parking stalls. The packet identifies Dylan Simon and JD Fuller as the exclusive listing brokers and lists the price as "Market," with an offers date still to be announced.
Background on the building
Developer materials state that Elara at the Market opened in 2018 and pursued LEED Gold certification, highlighting amenities such as a pet park and a rooftop sky lounge. Johnson Development's property information also emphasizes the building's location two blocks from Pike Place Market and argues the asset benefits from downtown job growth and waterfront upgrades.
Neighborhood snapshot
Zillow lists current rents at Elara with one-bedrooms commonly asking in the $1,900 to $2,500 range and two-bedrooms into the mid-$3,000s, underscoring the income profile investors are likely modeling. Those asking rents, combined with the building's waterfront-adjacent setting and walkable access to Pike Place, sit at the center of the sales pitch.
What comes next
According to the broker packet, marketing materials and the full offering package are available to qualified buyers through the listing team, and an offers date remains open. Prospective investors are directed to contact the exclusive brokers for full underwriting materials and site tour details.
