226 W Broadway St - Apartments FOR SALE


Goldendale, WA 98620
$2,650,000 USD
503-241-5541
226 W Broadway St, Goldendale, WA for Sale
$2,650,000 USD
Apartments - FOR SALE
1/37
null | 5.48% Cap Rate

226 W Broadway St
Goldendale, WA 98620


OVERVIEW

» Below-Market Rents with Embedded Upside Golden Sands presents a compelling loss-to-lease opportunity, with several units currently rented well below the property's own demonstrated achievable rates. This embedded rent gap offers an incoming investor the ability to grow revenue organically through routine lease renewals — without the need for capital improvements or renovation. » Columbia River Gorge Gateway Situated approximately 13 miles north of the Columbia River, Goldendale offers residents direct access to one of the Pacific Northwest's most celebrated natural landscapes — the Columbia River Gorge National Scenic Area. The area's world-class hiking, scenic drives, and outdoor recreation draw over two million visitors annually, while the Goldendale Observatory State Park and views of the Cascade and Simcoe mountain ranges add to the region's lifestyle appeal. » County Seat with a Diversified Employment Base Goldendale serves as the county seat of Klickitat County, anchoring a stable employment base across government, healthcare, education, and essential services. Major local employers include Klickitat County government offices, Klickitat Valley Health, the Goldendale School District, and Klickitat PUD, providing the consistent public-sector and healthcare-driven tenant demand that supports multifamily occupancy in smaller regional markets. » Operational Efficiency at Scale With 22 units consolidated under a single roof, Golden Sands offers operational efficiencies that are difficult to replicate with smaller multifamily assets. Fixed operating costs — including management, insurance, and maintenance — are distributed across a larger revenue base, supporting stronger per-unit economics and simplifying day-to-day operations for the owner. » Versatile Unit Mix Serving Multiple Renter Demographics The property features a diverse mix of 19 one-bedroom and 3 two-bedroom units, appealing to a broad cross-section of renter demand — from single professionals and retirees to small households. This unit diversity reduces concentration risk and positions the property to capture demand across multiple segments of Goldendale's rental market. » Well-Appointed Amenity Package Golden Sands offers a resident-focused amenity package that includes walkin closets, private balconies, and controlled-access entry at the unit level, complemented by community features such as a fitness center, on-site laundry, reservable storage spaces, off-street parking, and planned social activities. These amenities support tenant retention and differentiate the property within a market where comparable offerings are limited.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$117 USD /SF

# OF UNITS

22

PRICE/UNIT

$120,455

CAP RATE

5.48%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Golden Sands Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

-

APN/PARCEL ID

04162053130900

ASK ABOUT THIS PROPERTY

Jack StephensHFO Investment Real EstateMore Info
503-241-5541

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Jack StephensHFO Investment Real EstateMore Info
503-241-5541

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