8509 244th St - Apartments FOR SALE


Edmonds, WA 98026
$7,150,000 USD
206-442-2713
8509 244th St, Edmonds, WA for Sale
$7,150,000 USD
Apartments - FOR SALE
1/7
null | 4.85% Cap Rate

8509 244th St
Edmonds, WA 98026


HIGHLIGHTS

  • Completed in 2021 — modern construction with premium materials and energy-efficient systems
  • Spacious units averaging 783 SF with strong in-place rental performance and upside potential
  • Gourmet kitchens with granite countertops, stainless steel appliances, dishwasher, and microwave
  • Each unit includes in-unit washer and dryer, air-conditioning, walk-in closets, and private patio or balcony
  • Low-maintenance vinyl flooring and marble-style interior finishes for modern durability and appeal
  • Ample surface parking with more than 1:1 ratio and EV charging potential

OVERVIEW

CBRE is pleased to present the Nyland Apartments, a 19-unit multifamily investment opportunity located in highly desirable Edmonds, Washington. Completed in 2021, this charming residential community offers investors the rare chance to acquire a newly constructed property in one of the Puget Sound’s most coveted and supply-constrained submarkets. The property sits on approximately one acre of land (51,000+ square feet) zoned for multifamily use, providing long-term flexibility and redevelopment potential in a rapidly growing suburban environment.

FOR SALE DETAILS

PRICE

$7,150,000 USD

PRICE/SF

$433 USD /SF

# OF UNITS

19

PRICE/UNIT

$376,316

CAP RATE

4.85%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Nyland Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2021

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,638 SF

ZONING

RM-1.5

APN/PARCEL ID

004633-032-003-03

ASK ABOUT THIS PROPERTY

Reed HunterCBREMore Info
206-442-2713

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

Reed HunterCBREMore Info
206-442-2713

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