5101 W Powerhouse Rd - Apartments FOR SALE


Yakima, WA 98908
$18,400,000 USD
206-333-2724
5101 W Powerhouse Rd, Yakima, WA for Sale
$18,400,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

5101 W Powerhouse Rd
Yakima, WA 98908


HIGHLIGHTS

  • Brand-New 2023 Construction: Turnkey asset with no deferred maintenance and modern building systems throughout.
  • All-Townhome Community: A rare 100% townhome configuration, with two-story layouts, private entries, and no shared neighbors above or below.
  • Large Floor Plans: Spacious (30)2- and (36)3-bedroom homes averaging 1,267 SF with 2.5 bathrooms in every unit.
  • Attached Garage for Every Unit: 66 private attached garages plus 132 surface stalls — three parking spaces per unit, largely unmatched in the Yakima m
  • Mark-to-Market Rent Upside: In-place rents average $1,832 vs. market rents of $1,905, with embedded growth as below-market leases roll and concessions
  • Strong Yakima Fundamentals: The 12th largest city in Washington and the largest in Yakima County, anchored by a deep agricultural economy with ~122,00

OVERVIEW

Northmarq is delighted to present Cowiche Creek Townhomes, a newly constructed, 2023-vintage asset located in Yakima, WA. This 66-unit property features a mix of 30 two-bedroom and 36 three-bedroom townhome units, each with 2.5 baths. With an average unit size of 1,267 square feet, each unit features in-unit laundry, elegant quartz countertops, LVP flooring and modern HVAC systems. The property currently achieves an average rent of $1,832 per unit with a limited history of concessions needed to entire new tenants. Residents enjoy the serenity of a quiet neighborhood while being just 4 miles north from downtown Yakima. Additionally, the property offers proximity to Mount Rainier National Park, making it an ideal location for outdoor enthusiasts seeking year-round recreational activities. This property represents an excellent opportunity for investors to acquire a recently constructed yet seasoned asset with large, modernized units in a highly desirable secondary market. With its central location, significant rent growth potential, and high-quality finishes, Cowiche Creek Townhomes is primed for long-term success.

FOR SALE DETAILS

PRICE

$18,400,000 USD

PRICE/SF

$279 USD /SF

# OF UNITS

66

PRICE/UNIT

$278,788

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cowiche Creek Townhouses

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2023

PARKING SPACES

198

LAND DETAILS

LAND ACRES

11.05 AC

LAND SF

481,549 SF

ZONING

R3

APN/PARCEL ID

181309-41011,181309-41400

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 Notice.