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Skyway Apartments 204 SE 12th St 8 Unit Apartment Building $995,000 ($124,375/Unit) 7.39% Cap Rate College Place, WA 99324
Investment Highlights
- Rental History - Professional Management
Executive Summary
Eight unit apartment building offered with property management, and tenants in place delivered at closing. Viewing during due diligence / inspection period with accepted offer that includes proof of funds (or investment loan pre-approval). Use WAR forms to present offers. Title to be First American Title - Sahra Hale. Call listing Broker for projected cash proformas and details. Do not Disturb residents.
TURN-KEY APARTMENT INVESTMENT PROPERTY with professional property management and tenants in place. Eight Unit Apartment includes SIX 2 bedroom & 1 bath units, ONE 1 bedroom one bath unit, and ONE studio unit. Open kitchen with renovated fixtures, paint, floorings and all units have new Heat/AC mini-split systems. Property is 100% rented after 2 years of renovations and stabilization. Property is conditionally underwritten for a 30 Year - 70% LTV loan. Excellent 1031 Exchange opportunity!
TURN-KEY APARTMENT INVESTMENT PROPERTY with professional property management and tenants in place. Eight Unit Apartment includes SIX 2 bedroom & 1 bath units, ONE 1 bedroom one bath unit, and ONE studio unit. Open kitchen with renovated fixtures, paint, floorings and all units have new Heat/AC mini-split systems. Property is 100% rented after 2 years of renovations and stabilization. Property is conditionally underwritten for a 30 Year - 70% LTV loan. Excellent 1031 Exchange opportunity!
Property Facts
| Price | $995,000 | Building Class | C |
| Price Per Unit | $124,375 | Lot Size | 0.61 AC |
| Sale Type | Investment | Building Size | 5,564 SF |
| Cap Rate | 7.39% | Average Occupancy | 100% |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| No. Units | 8 | Year Built/Renovated | 1925/2022 |
| Property Type | Multifamily | Parking Ratio | 1.43/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R4 - multi-family | ||
| Price | $995,000 |
| Price Per Unit | $124,375 |
| Sale Type | Investment |
| Cap Rate | 7.39% |
| Sale Condition | 1031 Exchange |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.61 AC |
| Building Size | 5,564 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1925/2022 |
| Parking Ratio | 1.43/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4 - multi-family |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Oven
- Tub/Shower
- Wi-Fi
- Yard
- Patio
- Vinyl Flooring
- Window Coverings
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Individual Leases Available
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,235 | 800 |
| 1+1 | 1 | $850.00 | 600 |
| Studios | 1 | $700.00 | 500 |
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Property Taxes
| Parcel Number | 350736580208 | Improvements Assessment | $448,500 |
| Land Assessment | $110,700 | Total Assessment | $559,200 |
Property Taxes
Parcel Number
350736580208
Land Assessment
$110,700
Improvements Assessment
$448,500
Total Assessment
$559,200
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Skyway Apartments | 204 SE 12th St
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