1311 Westwood Ave - Apartments FOR SALE


Wenatchee, WA 98801
$12,000,000 USD
206-333-2724
1311 Westwood Ave, Wenatchee, WA for Sale
$12,000,000 USD
Apartments - FOR SALE
1/22
null | 5.79% Cap Rate

1311 Westwood Ave
Wenatchee, WA 98801


HIGHLIGHTS

  • Opportunity to Increase Rents by 6.21%
  • Upside Potential with 37.5% of Units Renovated
  • Property has Undergone Recent Upgrades

OVERVIEW

• Offered at a 6.54% Market Cap Rate, presenting a strong return in a stable rental market. • Opportunity to Increase Rents by 6.21% to align with current market rates, enhancing income potential. • 37.5% of Units Renovated, providing immediate upside through the renovation of remaining classic units. • 14% Rent Premium on Renovated vs. Classic Units. • Prime Location Near Wenatchee Valley College and Major Retailers, making it a desirable choice for tenants. • Strong Occupancy at 95%, outperforming the Wenatchee’s current average occupancy rate. • Desirable Tenant Amenities, including a swimming pool and a mix of covered and surface parking. • Property includes two on-site, coin-operated laundry facilities, and every two-bedroom apartment is equipped with full-sized, side-by-side washer and dryers.

FOR SALE DETAILS

PRICE

$12,000,000 USD

PRICE/SF

$212 USD /SF

# OF UNITS

64

PRICE/UNIT

$187,500

CAP RATE

5.79%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pacific Village Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

89

LAND DETAILS

LAND ACRES

3.52 AC

LAND SF

153,331 SF

ZONING

-

APN/PARCEL ID

13177

ASK ABOUT THIS PROPERTY

Tyler SmithNorthmarqMore Info
206-333-2724

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Tyler SmithNorthmarqMore Info
206-333-2724

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