304 E Barker St - Apartments FOR SALE


Medical Lake, WA 99022
$1,200,000 USD
206-491-2008
304 E Barker St, Medical Lake, WA for Sale
$1,200,000 USD
Apartments - FOR SALE
1/11
null | 6.74% Cap Rate

304 E Barker St
Medical Lake, WA 99022


HIGHLIGHTS

  • Ideal Repositioning Opportunity
  • Landlord-Friendly City
  • Located in Strong Rental Submarket
  • Minutes from Major Employers

OVERVIEW

Introducing 304 Barker, a prime investment opportunity with 10 units in the thriving Eastern Washington submarket, exclusively presented by Berkadia Seattle. This value-add property has been partially upgraded in recent years and offers significant potential in a rapidly growing area just 20 minutes from downtown Spokane. Featuring a mix of one- and two-bedroom units, each averaging 900 square feet and equipped with covered parking and on-site laundry facilities, this charming community is situated in the landlord-friendly city of Medical Lake. Located in a robust rental submarket expecting 1,245 net move-ins by year-end, this property is poised for success with a projected 3% rent growth through 2025. Boasting proximity to major employers such as Fairchild Air Force Base, Providence Health Care, and Amazon fulfillment centers, 304 Barker presents a lucrative opportunity for investors seeking a high-performing asset in a desirable location. Don't miss out on this potential gem in the Pacific Northwest!

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$167 USD /SF

# OF UNITS

10

PRICE/UNIT

$120,000

CAP RATE

6.74%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

304 Barker

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

R-3

APN/PARCEL ID

14181.4106

ASK ABOUT THIS PROPERTY

Chad BlenzBerkadiaMore Info
206-491-2008

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Chad BlenzBerkadiaMore Info
206-491-2008

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