Bellevue is a widely varied city with 13 very unique neighborhoods, each with their own history, amenities, and profile. If you plan to invest in the city, you will have to choose a neighborhood, and knowing about that neighborhood is a great start. Woodridge is one of the smaller neighborhoods in Bellevue, but also one of the most popular, and you can use this profile to plan your property investment in the area, or to market your existing rental property.

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Meet Woodridge, one of Bellevue’s Most Popular Neighborhoods

Woodridge is a great family neighborhood, and was named the 8th Hottest Neighborhood of 2015 by Redfin in a local survey. It’s also home to local pools, developments, and after school activities, plus parks and recreation.

The neighborhood is situated next to Highway 405, and includes Woodridge Hill. It’s also only about 19% developed, with just over 2,000 housing units built in the neighborhood. With a population of just 4,541, it’s Woodridge is a relatively small area, making it ideal for new developments, and for larger investment homes with high rent fees.

Woodridge also encompasses Norwood Village, a large residential area built on Woodridge Hill in the 1940s. In fact, some 48 acres of the property were acquired by a nonprofit veteran’s organization in 1947, and were used to build homes for returning veterans, and the rest of the homes were built up around this area.

The neighborhood is known for large houses, many of which overlook Lake Washington, Downtown Bellevue, and Seattle. It’s also known for it’s unique placement of homes, with different sizing and positioning, to maximize views. The result is also that the area does not look like tract housing, because none of the houses look the same.

Schools in the Area

Woodridge Elementary School sits on the top of Woodridge Hill, but is the only school in the neighborhood. You can check the school’s district here.

However, Bellevue is home to 18 elementary schools, 5 middle schools, 6 high schools, and 29 private schools, many of which overlap with Woodridge homes.

Amenities

In addition to stunning natural views, beautiful landscapes, large homes, and family friendly communities, Woodridge has a lot of amenities to offer. For example, there are multiple local parks including the following:

  • Kelsey Creek Park
    Bannerwood Ballfield Park
    Norwood  Village Park
    Woodridge Water Tower Park

There are also a variety of restaurants, some shopping opportunities, and cultural events throughout the year.

Investing in Woodridge, Bellevue

Woodridge is a great place to invest for single family homes, apartments, condos, and developments, but it is expensive. With a limited number of houses available, the very large homes can sell for over $1,500,000. However, condos and smaller houses are priced much more affordably. You can also find deals at auctions, and foreclosures in the area.

Rental Rates

  • 4 bed/2 bath, 2,500 sq.ft. single family home – $1,700 – $3,200
  • 2 bed/2 bath – 1,000 sq.ft. condo – $1,320 – $2,069

Rental rates can vary a great deal depending on the size of the home, location, condition, and age. Woodridge rental fees are slightly higher than the surrounding Bellevue area, thanks to a high demand for homes, great views, and a quality neighborhood.

If you want to invest in property in Woodridge, then you need a property manager who is familiar with the area, amenities, and local Bellevue regulations. SJA Property Management can handle all of this, including marketing, finding and screening tenants, collecting rent, maintenance, repairs, paperwork, and much more for you. Contact us to learn more.

Posted by: eirikolsen on February 10, 2016
Posted in: General