Tiffany Apartments 1177 Harrington Ave 22 Unit Apartment Building $4,925,000 ($223,864/Unit) 5.93% Cap Rate Renton, WA 98056

Paragon Real Estate Advisors is pleased to present Tiffany Apartments, a 22- unit multifamily asset located in the desirable Highland Park neighborhood of Renton, Washington. Just minutes from The Landing, Lake Washington, and major employment and retail hubs, Tiffany Apartments offers investors an attractive opportunity to acquire a well-located, updated asset with immediate rental upside potential.
Originally constructed in 1979, Tiffany Apartments has undergone consistent renovations over the past eight years. The property features spacious units, with a majority over 900 square feet, each offering full kitchens, in-unit washers and dryers, and updated finishes. These large floor plans provide residents with generous living and dining spaces, ample storage, and a comfortable, modern living experience.
Additional amenities include abundant off-street parking and proximity to multiple schools, parks, shopping, and dining options. The Highland Park neighborhood provides a quiet, residential atmosphere with convenient access to transit corridors and daily conveniences, making Tiffany Apartments an appealing long-term investment for both tenants and owners.
Current rents remain below market, presenting a clear opportunity for investors to increase income through focused operations and light unit renovations. While also implementing utility bill back system for additional income. With limited turnover and continued demand for large, well-located apartment homes, this asset is ideally positioned to deliver strong cash flow and long-term value.