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Suncrest Apartments 1800 Evergreen St 45 Unit Apartment Building $5,300,000 ($117,778/Unit) 6.42% Cap Rate Walla Walla, WA 99362
Investment Highlights
- Well-maintained, prime value-add opportunity
- First time on market in 44 years
- Centrally located surrounded by jobs, schools, restaurants, & more
- Strong in-place & market cap rate
- Attractive unit mix featuring 39-two bedroom units
- One of the few "properties of scale" available in Eastern Washington
Executive Summary
The Suncrest Apartments is a well-maintained 45-unit apartment community that presents a rare value-add opportunity with strong in-place operations in a highly desired market. Offered for sale for the first time in 44 years, the property features an attractive unit mix with 39 two-bedroom units and is centrally located near major employers, schools, dining, and everyday amenities. As one of the few multifamily properties of scale available in Eastern Washington, the asset offers investors a compelling combination of stability, upside potential, and market presence.
Property Facts
| Price | $5,300,000 | Building Class | C |
| Price Per Unit | $117,778 | Lot Size | 1.72 AC |
| Sale Type | Investment | Building Size | 53,344 SF |
| Cap Rate | 6.42% | Average Occupancy | 91% |
| No. Units | 45 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.2/1,000 SF |
| Apartment Style | Garden |
| Price | $5,300,000 |
| Price Per Unit | $117,778 |
| Sale Type | Investment |
| Cap Rate | 6.42% |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.72 AC |
| Building Size | 53,344 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.2/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Refrigerator
- Oven
- Range
- Carpet
- Smoke Free
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Recycling
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 420 |
| 1+1 | 4 | - | 490 - 782 |
| 2+1 | 39 | - | 700 - 882 |
| 4+1 | 1 | - | 1,325 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,873,600 | |
| Land Assessment | $386,900 | Total Assessment | $2,260,500 |
Property Taxes
Parcel Numbers
Land Assessment
$386,900
Improvements Assessment
$1,873,600
Total Assessment
$2,260,500
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Suncrest Apartments | 1800 Evergreen St
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