1177 Harrington Ave - Apartments FOR SALE


Renton, WA 98056- Sunset
$4,925,000 USD
360-771-0010
1177 Harrington Ave, Renton, WA for Sale
$4,925,000 USD
Apartments - FOR SALE
1/20
null | 5.93% Cap Rate

1177 Harrington Ave
Renton, WA 98056
Sunset


HIGHLIGHTS

  • Less than 5 minutes from The Landing and Lake Washington
  • Day-One strong Cap Rate at over 5.95%
  • Washer & Dryer in all units
  • Large Units: Majority of units over 900 SqFt average
  • Attractive unit mix: 18 units are two bedroom or three-bedroom homes
  • Ample off-street parking with 34 parking spots

OVERVIEW

Paragon Real Estate Advisors is pleased to present Tiffany Apartments, a 22- unit multifamily asset located in the desirable Highland Park neighborhood of Renton, Washington. Just minutes from The Landing, Lake Washington, and major employment and retail hubs, Tiffany Apartments offers investors an attractive opportunity to acquire a well-located, updated asset with immediate rental upside potential. Originally constructed in 1979, Tiffany Apartments has undergone consistent renovations over the past eight years. The property features spacious units, with a majority over 900 square feet, each offering full kitchens, in-unit washers and dryers, and updated finishes. These large floor plans provide residents with generous living and dining spaces, ample storage, and a comfortable, modern living experience. Additional amenities include abundant off-street parking and proximity to multiple schools, parks, shopping, and dining options. The Highland Park neighborhood provides a quiet, residential atmosphere with convenient access to transit corridors and daily conveniences, making Tiffany Apartments an appealing long-term investment for both tenants and owners. Current rents remain below market, presenting a clear opportunity for investors to increase income through focused operations and light unit renovations. While also implementing utility bill back system for additional income. With limited turnover and continued demand for large, well-located apartment homes, this asset is ideally positioned to deliver strong cash flow and long-term value.

FOR SALE DETAILS

PRICE

$4,925,000 USD

PRICE/SF

$244 USD /SF

# OF UNITS

22

PRICE/UNIT

$223,864

CAP RATE

5.93%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tiffany Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1979

PARKING SPACES

34

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,878 SF

ZONING

CV

APN/PARCEL ID

722780-1355

ASK ABOUT THIS PROPERTY

Tanner FogleParagon Real Estate AdvisorsMore Info
360-771-0010

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Tanner FogleParagon Real Estate AdvisorsMore Info
360-771-0010

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