12437 Tukwila International Blvd - Apartments FOR SALE


Tukwila, WA 98168- Allentown
$2,050,000 USD
253-486-6725
12437 Tukwila International Blvd, Tukwila, WA for Sale
$2,050,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

12437 Tukwila International Blvd
Tukwila, WA 98168
Allentown


HIGHLIGHTS

  • ATTRACTIVE YIELD: 5.57% in-place cap rate with achievable upside to 6.66%
  • POSITIVE LEVERAGE: Strong cash flow metrics from day one
  • ABUNDANT PARKING: Includes secured garages suitable for tenant parking or additional storage income
  • NATURALLY OCCURRING AFFORDABLE HOUSING: Supports long-term renter demand
  • VALUE-ADD POTENTIAL: Significant rental upside through operational and unit-level improvements
  • MAJOR CAPITAL IMPROVEMENTS: Plumbing and electrical has been updated, new garage doors, new railings, and all roofs under 10 years old

OVERVIEW

Cushman & Wakefield Capital Markets is pleased to exclusively present the opportunity to acquire Hillside Apartments, a 13-unit value-add opportunity in South King County’s Tukwila. Two units have already been remodeled proving the value-add strategy and illustrating a clear path to rental upside. The building boasts 7 large, secured parking garages approximately 11 feet wide and 25 feet deep as well as an abundance of open off-street parking. The building is naturally occurring affordable housing. Both 1- and 2- bedroom units are considered affordable to King County residents earnings below area median income. With a very historically low vacancy rate, the Hillside apartments highlight the demand for workforce housing in suburban neighborhoods surrounding Seattle.

FOR SALE DETAILS

PRICE

$2,050,000 USD

PRICE/SF

$242 USD /SF

# OF UNITS

13

PRICE/UNIT

$157,692

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1946

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,616 SF

ZONING

CLI

APN/PARCEL ID

092304-9394

ASK ABOUT THIS PROPERTY

Jacob OdegardCushman & WakefieldMore Info
253-486-6725

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Jacob OdegardCushman & WakefieldMore Info
253-486-6725

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