Arrived, the real-estate investing platform backed by Jeff Bezos, is zeroing in on its hometown. The company recently opened subscriptions for the Seattle City Fund, its first location-specific portfolio of single-family rentals, giving investors nationwide a way to tap the region's resurgent housing market with as little as $100.
The launch comes as Seattle listings edge higher for the spring selling season while demand from well-paid tech workers remains stout. Median home values still hover above $900,000, according to Zillow data, and prices have climbed roughly 24% since 2020—even after 2023's rate-driven cooldown.
Seattle may check every box Arrived Homes is looking for. According to its website, the city's strong job growth—driven by Amazon and Microsoft—limited supply of buildable land, and a renter population that exceeds 50% all contribute to its appeal.
For would-be landlords who don't have a seven-figure down payment—or the bandwidth for midnight plumbing calls—the Seattle City Fund offers a back-door into one of America's priciest housing markets for less than the cost of the average monthly cell phone bill.
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A Diversified Bet on Puget Sound
Rather than buying shares of a single house—the model Arrived popularized in 2021—the Seattle City Fund spreads capital across a pipeline of properties in the area. The first two acquisitions, a three-bedroom home in Mountlake Terrace ("The Bollito") and a four-bedroom in Lynnwood ("The Chihuly"), were purchased for $830,000 and $850,000, respectively, and are expected to rent for about $3,300 and $3,600 a month.
Arrived says the fund structure lowers overhead because expenses like LLC fees, audits and tax prep are shared, boosting net yields. Investors will receive quarterly dividends from rental income and a share of any appreciation when homes are eventually sold. The REIT-qualified vehicle also offers a redemption program after a six-month lockup, with fees falling to zero after five years.
Why Now?
Seattle's housing supply has inched up to roughly 2.1 months—still below the four to six months considered balanced—while mortgage rates have plateaued near 6.9%. That combination is giving buyers a sliver more negotiating room without eroding long-term price support, local brokerage data show. Meanwhile, Washington's lack of a state income tax helps keep after-tax rental returns competitive with sunnier Sun Belt markets that have cooled sharply.
Arrived's investment thesis also leans on future zoning changes tied to light-rail extensions. Homes sitting on land that could support higher density may see outsize appreciation even if development occurs years down the road, the company said.
A Platform With Momentum
Founded in 2019, Arrived has acquired more than 450 rental houses and vacation properties across 40-plus metro areas. The firm allows investors to buy shares starting at $100, a model that has drawn support from Bezos Expeditions and Salesforce CEO Marc Benioff.
While Arrived charges sourcing and management fees, a six-month minimum hold and a 0.1% monthly asset-management fee for the new fund, its single-family portfolios have delivered mid-single-digit annual dividends alongside double-digit total returns since inception.
How to Participate
Enrollment for the Seattle City Fund opened on Arrived's website and will remain live until the raise is fully subscribed.
For would-be landlords who don't have a seven-figure down payment—or the bandwidth for midnight plumbing calls—the Seattle City Fund offers a back-door into one of America's priciest housing markets for the cost of a single lift ticket at Crystal Mountain.
As Seattle eyes continued population and wage growth, Arrived is betting that a curated basket of rentals near major employers and transit lines will appeal to investors hunting for both yield and long-run appreciation. If the experiment succeeds, the company plans to roll out additional city funds in other high-growth metros later this year.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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