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Highland Flats 124-132 W Shoshone St 13 Unit Apartment Building $1,475,000 ($113,462/Unit) 6.92% Cap Rate Pasco, WA 99301
Investment Highlights
- Turn-key property in one of the WA State's most desired markets, the Tri-Cities
- Strong in-place rents proving true rental demand
- Situated near major employers including Lourdes Hospital, Columbia Basin College, Amazon's Fulfillment Center, & more
- Upwards of $350,000 in recent capital improvements
- Attractive, above-market, in-place and market cap rates
Property Facts
| Price | $1,475,000 | Building Class | C |
| Price Per Unit | $113,462 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 7,154 SF |
| Cap Rate | 6.92% | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2015 |
| Property Subtype | Apartment | Parking Ratio | 1.82/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3 | ||
| Price | $1,475,000 |
| Price Per Unit | $113,462 |
| Sale Type | Investment |
| Cap Rate | 6.92% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 7,154 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1964/2015 |
| Parking Ratio | 1.82/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 2 | - | - |
| 2+1 | 6 | - | - |
| 3+1 | 1 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $999,600 | |
| Land Assessment | $182,200 | Total Assessment | $1,181,800 |
Property Taxes
Parcel Numbers
Land Assessment
$182,200
Improvements Assessment
$999,600
Total Assessment
$1,181,800
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Highland Flats | 124-132 W Shoshone St
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