1007 Grandridge Road - Apartments FOR SALE


Grandview, WA 98930
$4,300,000 USD
509-410-1990
1007 Grandridge Road, Grandview, WA for Sale
$4,300,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

1007 Grandridge Road
Grandview, WA 98930


HIGHLIGHTS

  • New construction with straightforward operations
  • Excess land included in sales price with the possibility to add 30 additional units
  • Attractive curb appeal with contemporary exterior architecture

OVERVIEW

Offered at $4,000,000, Grandridge Meadows is priced at $250k/unit with a 6.76% in-place cap rate and a 7.03% proforma cap rate. The included land is priced at $300,000, which is just $10,000 per buildable unit, providing the opportunity to acquire stable new-construction cash-flow while creating a clear path to future growth. Grandridge Meadows is a boutique, newly constructed multifamily property located at 1007 Grandridge Road in Grandview, Washington. The project comprises sixteen 2-bed, 2-bath units, each averaging over 960 square feet. With modern finishes, durable construction, and efficient layouts, the property is poised to attract long-term tenants looking for high-quality rental housing without the high urban rent premiums. The site enjoys a central Grandview location near schools, retail centers, and city services. This strong locational positioning, combined with monument signage and polished exterior design, helps reinforce brand visibility and tenant demand. Current operations create strong support for stabilized market rents of $1,885 per unit with additional RUBS income and lean expenses. What truly elevates this investment is its future scalability. The property sits on over two acres and includes excess land that could accommodate up to 30 additional units under the current zoning. This creates a compelling opportunity for investors to build on existing momentum, expand footprint, and drive additional value in a historically underserved market with stable fundamentals and growing tenant demand.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$48 USD /SF

# OF UNITS

16

PRICE/UNIT

$268,750

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Grandridge Meadows

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2025

PARKING SPACES

42

LAND DETAILS

LAND ACRES

2.06 AC

LAND SF

89,734 SF

ZONING

R3

APN/PARCEL ID

230923-43477

ASK ABOUT THIS PROPERTY

Mason FiasconeMultifamily MasonMore Info
509-410-1990

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Mason FiasconeMultifamily MasonMore Info
509-410-1990

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.