13717 NW 2nd Ave.
Vancouver, WA 98685 ·
191 Units · Multifamily For Sale
|Price||N/A||Property Use Type||Investment|
|No. Units||191||Commission Split||1.5%|
|Building Size||222,778 SF||Cap Rate||5.72%|
|Property Sub-type||Garden/Low-Rise||Lot Size||15.90 AC|
|Listing ID: 17436790||Date Created: 12/01/2011||Last Updated: 01/03/2014|
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.
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