About the Owner
Erik Magnuson is the owner, president, and designated broker of 3KEYS Residential. As such, Erik is responsible for all aspects of the company including management oversight, financial viability, growth of the company, and strategic direction. 3KEYS is a leading residential real estate management company based in Kirkland, Washington with a portfolio of approximately 300 properties throughout King County.
Erik Magnuson is a second-generation, multi-award-winning real estate professional with over 25 years of industry experience throughout the Western United States. Erik is an operational professional, having extensive and successful experience in commercial and residential investment real estate management, acquisitions, development, and rehabilitation. Over the course of Erik's career, he has successfully managed over 5,000 units comprised of garden-style apartment communities, mixed-use mid-rise apartment buildings, high-rise apartment buildings, new ground-up apartment developments, apartment to-condominium conversions, single-family residences, homeowners’ associations, commercial owners’ associations, office, and retail properties, all with a value exceeding $1.5 billion. Throughout Erik’s management of these properties, he facilitated and managed $65 million in construction and capital expenditures – from curing regular and deferred maintenance, to implementing value-add strategies. Erik has analyzed and underwritten over $9 billion in real estate.
In addition to Erik’s extensive background in investment real estate management, Erik also worked for a real estate private equity firm, specializing in the acquisition, development, investment, and management of large-scale, institutional-grade multifamily assets throughout the Western U.S. During Erik’s tenure, he oversaw the entire West Coast territory. Erik directly managed the acquisitions and development of 1,500 multifamily units in four states. Those properties had a combined purchase price of approximately $200 million and placed $75 million in private equity. Since Erik’s acquisition of those properties, all of them have sold for a combined disposition price of approximately $315 million. Producing sales profits alone of $115 million (excluding total cash flow) for the limited partners and general partner.
The various real estate management and investment companies Erik worked for – prior to purchasing 3KEYS – have a combined value of assets under management exceeding $100 billion, totaling nearly 1.5 million units worldwide. While working for the nation's largest property management company, Erik was awarded “Regional Manager Of The Year”. Erik was also awarded twice for reaching “Platinum” level (placing in the top 3 in the nation) as a top-performing asset manager amongst over 250 senior-level manager and executive colleagues.
Erik has rolled up his sleeves ever since he was old enough to work. As a young teenager, Erik started out working for a local fresh produce grocer, various commercial and residential roofing companies, apartment reconstruction company, various landscape and tree trimming companies, various hotel, hospitality, and restaurant companies, and even worked as a commercial fisherman out of Bristol Bay/Bering Sea, Alaska. Prior to “professional” work, Erik regularly accompanied his father while visiting various multifamily assets under his father’s ownership and management. Successful investment real estate ownership, investment, and management is in Erik’s blood.
Erik graduated from Bellarmine Preparatory School and then Johnson & Wales University to earn his B.S. degree in Hotel Management. Erik is a licensed real estate managing broker with a designated broker endorsement from the Washington State Department Of Licensing.
In Erik’s spare time, he enjoys boating, snow skiing, working out at the gym, and cruising in his world renowned, award-winning 1970 Chevelle 396 BBC.