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Park View Apartments 524-602 Terrace St 18 Unit Apartment Building For Sale Monroe, WA 98272
INVESTMENT HIGHLIGHTS
- Fully Renovated in 2023–2024: Turnkey 18-unit property with ±$1.3M in upgrades—modern interiors, updated systems, and zero deferred maintenance
- Garage Parking for Every Unit: Plus surface parking and private storage lockers.
- Desirable Unit Mix: Large 2- and 3-bedroom units (±870–1,270 SF), all with in-unit W/D, AC, and high-end finishes
- Parkside Setting: Backing up to green space with potential for added outdoor amenities (BBQ, dog run, etc.).
EXECUTIVE SUMMARY
Fully renovated, high-quality multifamily asset available for sale in Monroe, WA. Two buildings, 18 units total, located in a high-demand commuter submarket. Zero deferred maintenance and immediate cash flow.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 1.04 AC |
| No. Units | 18 | Building Size | 20,177 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1991/2024 |
| Building Class | B | Parking Ratio | 2.56/1,000 SF |
| Zoning | MR6000, Monroe | ||
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.04 AC |
| Building Size | 20,177 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 1991/2024 |
| Parking Ratio | 2.56/1,000 SF |
| Zoning | MR6000, Monroe |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 9 | - | 550 - 1,070 |
| 3+2 | 9 | - | 1,050 - 1,270 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,932,300 | |
| Land Assessment | $979,700 | Total Assessment | $2,912,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$979,700
Improvements Assessment
$1,932,300
Total Assessment
$2,912,000
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Park View Apartments | 524-602 Terrace St
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