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108 SE 6th St
College Place, WA 99324
Tower View Apartments · Multifamily Property For Sale
·
11 Units
Investment Highlights
- DESIRABLE UNIT MIX - Primarily All Attractive High Demand Two-Bedroom Units
- CIVIC CORE LOCATION - Ideally Located Next to City Hall, Police Headquarters and Fire Station
- RENTAL UPSIDE - Strong Upside in Already Achieved Rents
- TIGHT OCCUPANCY - Extremely Low Vacancy on Highly Sought After Location
- PROFESSIONAL OVERSIGHT - Professionally Managed and Maintained
Executive Summary
The Rhoades Group of Marcus & Millichap is pleased to exclusively present Tower View Apartments, an 11-unit multifamily investment opportunity located in College Place.? The property consists of four separate residential structures situated on a 0.61-acre tax lot, including one fourplex, one triplex, and two duplexes.? Three of the four buildings were constructed between 1975 and 1982, while the original 1910 structure has undergone significant upgrades and modernization over time.?
Throughout the current ownership’s six-year tenure, the asset has benefited from professional management and consistent maintenance.? Notable capital improvements include roofs on all structures within the past 10 years and upgraded ABS plumbing with copper supply lines in three of the four buildings.? Additionally, six of the 11 units have been renovated, featuring newer appliances, updated LVP and carpet flooring combinations, cadet heating systems, and in-wall air conditioning.? Approximately $15,000 invested in lot line adjustment, architectural plans, and a geotechnical survey for a potential duplex addition on the property approved by the city of College
Place.?
The property offers a desirable unit mix of eight two-bedroom, one-bathroom units and three one-bedroom, one-bathroom units, with sizes ranging from approximately 500 to 843 square feet.? The multi-building layout provides a more residential setting while reducing concentration risk and enhancing operational flexibility.?
Tower View Apartments is strategically located near Walla Walla University and downtown Walla Walla.? The surrounding area is supported by a diverse economic base including education, healthcare, agriculture, and tourism.? Proximity to the Tri-Cities growth corridor further strengthens rental demand, supporting stable occupancy and long-term rent growth.?
Throughout the current ownership’s six-year tenure, the asset has benefited from professional management and consistent maintenance.? Notable capital improvements include roofs on all structures within the past 10 years and upgraded ABS plumbing with copper supply lines in three of the four buildings.? Additionally, six of the 11 units have been renovated, featuring newer appliances, updated LVP and carpet flooring combinations, cadet heating systems, and in-wall air conditioning.? Approximately $15,000 invested in lot line adjustment, architectural plans, and a geotechnical survey for a potential duplex addition on the property approved by the city of College
Place.?
The property offers a desirable unit mix of eight two-bedroom, one-bathroom units and three one-bedroom, one-bathroom units, with sizes ranging from approximately 500 to 843 square feet.? The multi-building layout provides a more residential setting while reducing concentration risk and enhancing operational flexibility.?
Tower View Apartments is strategically located near Walla Walla University and downtown Walla Walla.? The surrounding area is supported by a diverse economic base including education, healthcare, agriculture, and tourism.? Proximity to the Tri-Cities growth corridor further strengthens rental demand, supporting stable occupancy and long-term rent growth.?
Property Facts
| Price Per Unit | $127,273 | Lot Size | 0.55 AC |
| Sale Type | Investment | Building Size | 11,000 SF |
| Cap Rate | 6.24% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1910/1982 |
| Property Subtype | Apartment | Parking Ratio | 1.64/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Building Class | C |
| Price Per Unit | $127,273 |
| Sale Type | Investment |
| Cap Rate | 6.24% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 11,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/1982 |
| Parking Ratio | 1.64/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 500 - 604 |
| 2+1 | 8 | - | 700 - 843 |
Property Taxes
| Parcel Number | 350736600536 | Improvements Assessment | $979,200 |
| Land Assessment | $110,270 | Total Assessment | $1,089,470 |
Property Taxes
Parcel Number
350736600536
Land Assessment
$110,270
Improvements Assessment
$979,200
Total Assessment
$1,089,470
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