This property is Off-Market

13717 NW 2nd Ave.
Vancouver, WA 98685 ·

191 Units · Multifamily For Sale

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Willow Pointe

Price N/A Property Use Type Investment
No. Units 191 Commission Split 1.5%
Building Size 222,778 SF Cap Rate 5.72%
Property Type Multifamily Occupancy 98%
Property Sub-type Garden/Low-Rise Lot Size 15.90 AC
Listing ID: 17436790 Date Created: 12/01/2011 Last Updated: 01/03/2014

Description

The Willow Pointe Apartments is a luxury apartment complex located in Vancouver, Washington. For sale is a 16.7% interest in the development for a price of $4,000,000. The price is based on a capitalization rate of 5.5% on projected income and expenses. Willow Pointe consists of two separate parcels owned by two separate LLC' s, one consisting of 55 townhomes, the other consisting of 136 apartments. The price would include a 16.7% ownership interest in each entity. The townhomes are of a condominium quality and present a long-term conversion opportunity. The Seller intends to solicit offers on Willow Pointe with the intention of having the property in contract by Early 2012.

Located minutes from the I-5/I-205 interchange, Legacy Hospital, and the Washington State Vancouver campus, Willow Pointe is ideally situated for a multifamily apartment complex. Sitting on 2nd Avenue and 137th St. in the sought after area of Vancouver called Salmon Creek' Willow Pointe' s highly visible location and high traffic cross streets draw attention steady stream of prospective tenants.

Research

13717 NW 2nd Ave., Vancouver, WA 98685 (Clark County)

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