We review association documents and resale certificates for clients on a regular basis. Every week we post stats and something fun or interesting.

This week it is Pacific Center with 50 residential units in International District in Seattle.

• Average Sale Price – ~$421 per sq.ft. (based on four sales over the last six months)
• Currently For Sale:
  • Unit #614 listed at $408k or approximately $489 per sq.ft
  • Unit #701 listed at $397k or approximately $463 per sq.ft
  • Unit #711 listed at $545k or approximately $410 per sq.ft
  • View All Units Available at Pacific Center On Our Site
• Average Monthly Assessment – $0.79 per sq.ft. (so if your condo is 1,000 sq.ft. you’d be paying ~$790/month)
• Move-in Fee – yes, $100 plus a move-out fee of $100 (paid at move-in) for a total of $200
• Pets – dogs and cats with a limit of two per unit are permitted subject to the customary rules
• Rental cap – no (short term rentals are also permitted at Pacific Center)
• EQ insurance – no
• Reserve funding – 24% (at least 70% is generally recommended)
• Risk of special assessment – high due to the current level of reserve funding

Fun fact – The 50 residential condominiums take up the top three floors of a massive Pacific Rim Development with parking, retail, restaurants, professional, and medical offices. Residents are able to take the elevator down to the retail levels to grab a bite to eat, visit a dentist, renew their insurance, or get a massage.

Want us to help you review a resale cert?
Have an interesting fact to share about your association?
Need help buying or selling? We are here for you!

And of course, a fancy disclosure has to follow because attorneys tell us it is a good idea – all information contained herein is based on third party records, is not guaranteed, and is subject to change. We simply review, tell you what we read in someone else’s docs, and hope whatever they have is / was correct at that time.