1508 NW Leland St - Apartments FOR SALE


Pullman, WA 99163
$3,750,000 USD
425-445-0071
1508 NW Leland St, Pullman, WA for Sale
$3,750,000 USD
Apartments - FOR SALE
1/11
null | 6.14% Cap Rate

1508 NW Leland St
Pullman, WA 99163


HIGHLIGHTS

  • Comprehensive Interior Renovations
  • Recent Exterior Capital Improvements
  • Attractive In-Place Cash Flow with Upside

OVERVIEW

Cushman & Wakefield is pleased to present Palouse Landing, a 31-unit, turnkey multifamily investment located in the heart of Pullman, Washington. The property has benefited from substantial exterior and unit renovations over recent years. Select units have been enhanced with in-unit washer and dryers, which have demonstrated an average rent premium of approximately $200 per unit. Palouse Landing currently offers a strong in-place cap rate of 6.5%, with a clear path to increasing returns to approximately 8.7% through the continued addition of washer and dryers. This asset represents an exceptional opportunity for investors seeking durable, long-term cash flow.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$160 USD /SF

# OF UNITS

31

PRICE/UNIT

$120,968

CAP RATE

6.14%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Palouse Landing

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1971

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.09 AC

LAND SF

47,599 SF

ZONING

R4

APN/PARCEL ID

815100000000007

ASK ABOUT THIS PROPERTY

Dylan RoeterCushman & WakefieldMore Info
425-445-0071

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Dylan RoeterCushman & WakefieldMore Info
425-445-0071

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