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2517 S 316th Ln
Federal Way, WA 98003
The Argyle · Multifamily Property For Sale
·
161 Units
PROPERTY FACTS
| No. Units | 161 | Building Size | 124,940 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 1983/2015 |
| Building Class | C | Parking Ratio | 1.89/1,000 SF |
| Lot Size | 4.95 AC | ||
| Zoning | CCF | ||
| No. Units | 161 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.95 AC |
| Building Size | 124,940 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1983/2015 |
| Parking Ratio | 1.89/1,000 SF |
| Zoning | CCF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Dining Room
- Patio
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Clubhouse
- Fitness Center
- Laundry Facilities
- Playground
- Spa
- Maintenance on site
ABOUT 2517 S 316TH LN , FEDERAL WAY, WA 98003
Moran & Company is pleased to announce that it has been retained as the exclusive listing agent for the sale of The Argyle, 160-unit, multifamily value-add opportunity, located in the Seattle area submarket of Federal Way. Significant Value-Add Opportunity Only 46% of units have had initial renovation Initial renovation premiums of $150-$300 New clubhouse/office opened January 2017 Assumable, Below Market Rate Debt Freddie Mac: $16.64 mm, 10 year, 5 year I/O 3.79% interest rate (4 yrs, 9 months I/O remain) Maturity Date: October 1, 2026 Highly Walkable + Transit Oriented Adjacent to Transit Center and future light rail station by 2024 Walkable to Trader Joe' s, shopping, movies, restaurants, bars, transit 1 MM sq ft of retail amenities within ½ mile Outstanding access to I-5 and Transit Center High Growth Submarket & No Pipeline Annual Rent Growth of 10.6% in Federal Way Only 65 market rate units built in Federal Way in the past 21 years Negative Supply in Federal Way of 889 units (11%) since 1996
PROPERTY TAXES
| Parcel Number | 092104-9307 | Improvements Assessment | $25,392,200 |
| Land Assessment | $7,551,800 | Total Assessment | $32,944,000 |
PROPERTY TAXES
