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Marina7 2729 W Marina Dr 7 Unit Apartment Building $1,650,000 ($235,714/Unit) 6.08% Cap Rate Moses Lake, WA 98837
Investment Highlights
- Premium Build & Location
- Moses Lake Market
- Strong Comparable Sales & Rents
Executive Summary
Marina7 is a newer-construction 7-unit multifamily property located in Moses Lake. Built in 2021 across two buildings, the property features modern finishes, efficient operations, and limited near-term capital needs compared to older competing rental stock. Offered at $1.65M, it provides the opportunity for a stable multifamily asset priced at a 6.08% in-place cap rate and a 6.46% proforma cap rate.
The property is well-positioned along Marina Drive facing the waterfront, with select units offering lake-facing views capable of achieving rent premiums. The surrounding area includes newer townhome-style rental product and nearby comparable assets that support both market rents and pricing.
As one of Central Washington's key regional markets, Moses Lake benefits from a diverse employment base, essential services, and continued industrial and population growth.
The property is well-positioned along Marina Drive facing the waterfront, with select units offering lake-facing views capable of achieving rent premiums. The surrounding area includes newer townhome-style rental product and nearby comparable assets that support both market rents and pricing.
As one of Central Washington's key regional markets, Moses Lake benefits from a diverse employment base, essential services, and continued industrial and population growth.
Property Facts
| Price | $1,650,000 | Apartment Style | Townhome |
| Price Per Unit | $235,714 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 6.08% | Building Size | 9,378 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | ||
| Zoning | R-3 - Residential, Multi-Family | ||
| Price | $1,650,000 |
| Price Per Unit | $235,714 |
| Sale Type | Investment |
| Cap Rate | 6.08% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 9,378 SF |
| No. Stories | 2 |
| Year Built | 2021 |
| Zoning | R-3 - Residential, Multi-Family |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- High Speed Internet Access
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Carpet
- Yard
- Deck
- Double Pane Windows
- Patio
- Window Coverings
- Quartz Countertops
Site Amenities
- Individual Locking Bedrooms
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 4 | - | 1,332 |
| 3+2.5 | 3 | - | 1,350 |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 314134000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,508,185 |
Property Taxes
Parcel Number
314134000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,508,185
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Marina7 | 2729 W Marina Dr