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12437 Tukwila International Blvd 13 Unit Apartment Building $2,150,000 ($165,385/Unit) Tukwila, WA 98168
INVESTMENT HIGHLIGHTS
- ATTRACTIVE YIELD: 5.57% in-place cap rate with achievable upside to 6.66%
- ABUNDANT PARKING: Includes secured garages suitable for tenant parking or additional storage income
- VALUE-ADD POTENTIAL: Significant rental upside through operational and unit-level improvements
- POSITIVE LEVERAGE: Strong cash flow metrics from day one
- NATURALLY OCCURRING AFFORDABLE HOUSING: Supports long-term renter demand
- MAJOR CAPITAL IMPROVEMENTS: Plumbing and electrical has been updated, new garage doors, new railings, and all roofs under 10 years old
EXECUTIVE SUMMARY
Cushman & Wakefield Capital Markets is pleased to exclusively present the opportunity to acquire Hillside Apartments, a 13-unit value-add opportunity in South King County’s Tukwila. Two units have already been remodeled proving the value-add strategy and illustrating a clear path to rental upside. The building boasts 7 large, secured parking garages approximately 11 feet wide and 25 feet deep as well as an abundance of open off-street parking. The building is naturally occurring affordable housing. Both 1- and 2- bedroom units are considered affordable to King County residents earnings below area median income. With a very historically low vacancy rate, the Hillside apartments highlight the demand for workforce housing in suburban neighborhoods surrounding Seattle.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,150,000 | Building Class | B |
| Price Per Unit | $165,385 | Lot Size | 0.36 AC |
| Sale Type | Investment | Building Size | 8,459 SF |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1946/1993 |
| Property Subtype | Apartment | Parking Ratio | 0.95/1,000 SF |
| Zoning | CLI | ||
| Price | $2,150,000 |
| Price Per Unit | $165,385 |
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.36 AC |
| Building Size | 8,459 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1946/1993 |
| Parking Ratio | 0.95/1,000 SF |
| Zoning | CLI |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 5 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 092304-9394 | Improvements Assessment | $1,443,200 |
| Land Assessment | $249,800 | Total Assessment | $1,693,000 |
PROPERTY TAXES
Parcel Number
092304-9394
Land Assessment
$249,800
Improvements Assessment
$1,443,200
Total Assessment
$1,693,000
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12437 Tukwila International Blvd
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