6721 W Kennewick Ave - Apartments FOR SALE


Kennewick, WA 99336
$2,250,000 USD
206-491-2008
6721 W Kennewick Ave, Kennewick, WA for Sale
$2,250,000 USD
Apartments - FOR SALE
1/11
null | 5.86% Cap Rate

6721 W Kennewick Ave
Kennewick, WA 99336


HIGHLIGHTS

  • Turnkey Asset
  • Stabilized Asset with Long-Term Value
  • Townhouse-Style Layout
  • Recession-Resilient Renter Demand
  • Benefit from Ongoing Industrial Expansion

OVERVIEW

Heritage Manor at 6721 W Kennewick Ave, Kennewick, WA 99336 is a rare opportunity to acquire a stabilized, turnkey 10-unit apartment community in the heart of the fast-growing Tri-Cities market. This well-maintained asset features ten spacious townhouse-style residences, each offering 2 bedrooms, 1.5 baths, central air conditioning, washer/dryer hookups, and private fenced backyards—an amenity package that stands out in the submarket. Originally built in 1978 and extensively renovated in 2024, the property has benefited from approximately $300,000 in recent capital improvements, including upgraded interiors, fresh exterior paint, enhanced lighting, parking lot repairs, and new privacy fencing. With a history of 100% occupancy and minimal delinquency, Heritage Manor offers immediate cash flow backed by durable renter demand. Positioned in one of Washington’s strongest growth corridors, the property is surrounded by major employers, ongoing industrial expansion, and a supply-constrained rental market. Heritage Manor combines proven performance, modern upgrades, and long-term upside in a market where quality rental housing continues to outperform. - Heritage Manor is a well-maintained investment opportunity, with over $300,000 invested in capital expenditures to enhance the property's value with both interior and exterior upgrades. - The property boasts a 100% occupancy rate with no delinquency, providing a stable and reliable income stream as a long-term investment. - Each unit features a two-story layout with two bedrooms and 1.5 bathrooms; in-unit amenities include central air conditioning and private backyards. - Proximity to the Tri-Cities' largest employers - including Battelle/PNNL (5,300 employees) and Kadlec Regional Medical Center (3,800 employees) - supports a stable, income-driven renter base and helps sustain occupancy across economic cycles. - The adjacent North Horn Rapids master-planned industrial district is creating a growing employment hub across 200-500 acres, targeting value-added agriculture, clean energy, and advanced manufacturing - drivers that are expected to support durable renter demand for years to come.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$234 USD /SF

# OF UNITS

10

PRICE/UNIT

$225,000

CAP RATE

5.86%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Heritage Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.7 AC

LAND SF

30,492 SF

ZONING

RM-4

APN/PARCEL ID

105891090002005

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.