-First Western Properties is pleased to present the exclusive sale of this 6 unit multi-family investment opportunity in Arlington.
-This 6-unit property offers 6,084 SF on 22,651 SF of land, with a strong in-place income. All units are 2 bed / 1 bath, 1,014 SF each.
-Current Proforma Revenue: $130,620 (effective 6/1/25)
-NOI: $90,620 | Cap Rate: 5.49%
-Parking: 16 spaces
-Operating Expenses: ~$40,000/year
-Units 4, 5 and 6 all recently renovated. New Fence constructed in 2023 in the backyard.
-Water & sewer included in rents; tenants pay garbage & electricity direct.
-Located in a growing Arlington area with strong rental demand. The new 2.8 million SF Amazon Fulfillment Center is just a couple minutes away. Additionally, Smokey Point Community Park, located across Smokey Point Blvd, is under construction. It will serve as a community/civic center and provide 1.8 acres of recreation to the community.
Ownership recently implemented rent increases effective 6/1/25 (details below). Additionally, as of April 2025, tenants are now responsible for their own garbage service.
Rental Details Below:
-Unit 1: $1,735/month beginning June 1 of 2025.
-Unit 2: $1,625/month beginning June 1 of 2025.
-Unit 3: $1,875/month beginning June 1 of 2025.
-Unit 4: Currently Vacant. Previous tenant moved out March 2025. Ownership renovated the unit, putting $25k into a new stove, toilet, kitchen sink, carpets, and painting. Previous tenant was paying $1,850/month, and ownership is looking for $1,875/month with a new tenant. Running pro formas with this $1,875/month number.
-Unit 5: $1,875/month beginning June 1 of 2025.
-Unit 6: $1,875/month beginning June 1 of 2025.
-Units 4, 5 and 6 have all been recently renovated.
-Operating expenses for 2024 were higher with tenant turnover and renovations completed for the property.
-See the attached offering flyer. Contact brokers for additional details on the offering.