230 W Broadway St - Golden Sands Apartments 22 Unit Apartment Building Offered at $2,650,000 at a 5.48% Cap Rate Goldendale, WA 98620

» Below-Market Rents with Embedded Upside
Golden Sands presents a compelling loss-to-lease opportunity, with several
units currently rented well below the property's own demonstrated achievable
rates. This embedded rent gap offers an incoming investor the ability to grow
revenue organically through routine lease renewals — without the need for
capital improvements or renovation.
» Columbia River Gorge Gateway
Situated approximately 13 miles north of the Columbia River, Goldendale offers
residents direct access to one of the Pacific Northwest's most celebrated natural
landscapes — the Columbia River Gorge National Scenic Area. The area's
world-class hiking, scenic drives, and outdoor recreation draw over two million
visitors annually, while the Goldendale Observatory State Park and views of the
Cascade and Simcoe mountain ranges add to the region's lifestyle appeal.
» County Seat with a Diversified Employment Base
Goldendale serves as the county seat of Klickitat County, anchoring a stable
employment base across government, healthcare, education, and essential
services. Major local employers include Klickitat County government offices,
Klickitat Valley Health, the Goldendale School District, and Klickitat PUD,
providing the consistent public-sector and healthcare-driven tenant demand
that supports multifamily occupancy in smaller regional markets.
» Operational Efficiency at Scale
With 22 units consolidated under a single roof, Golden Sands offers operational
efficiencies that are difficult to replicate with smaller multifamily assets. Fixed
operating costs — including management, insurance, and maintenance —
are distributed across a larger revenue base, supporting stronger per-unit
economics and simplifying day-to-day operations for the owner.
» Versatile Unit Mix Serving Multiple Renter Demographics
The property features a diverse mix of 19 one-bedroom and 3 two-bedroom
units, appealing to a broad cross-section of renter demand — from single
professionals and retirees to small households. This unit diversity reduces
concentration risk and positions the property to capture demand across
multiple segments of Goldendale's rental market.
» Well-Appointed Amenity Package
Golden Sands offers a resident-focused amenity package that includes walkin
closets, private balconies, and controlled-access entry at the unit level,
complemented by community features such as a fitness center, on-site laundry,
reservable storage spaces, off-street parking, and planned social activities.
These amenities support tenant retention and differentiate the property within a
market where comparable offerings are limited.