Log In/Sign Up
Your email has been sent.
Heritage Manor Apartments 6721 W Kennewick Ave 10 Unit Apartment Building $2,250,000 ($225,000/Unit) 5.86% Cap Rate Kennewick, WA 99336
Investment Highlights
- Turnkey Asset
- Townhouse-Style Layout
- Benefit from Ongoing Industrial Expansion
- Stabilized Asset with Long-Term Value
- Recession-Resilient Renter Demand
Executive Summary
Heritage Manor at 6721 W Kennewick Ave, Kennewick, WA 99336 is a rare opportunity to acquire a stabilized, turnkey 10-unit apartment community in the heart of the fast-growing Tri-Cities market. This well-maintained asset features ten spacious townhouse-style residences, each offering 2 bedrooms, 1.5 baths, central air conditioning, washer/dryer hookups, and private fenced backyards—an amenity package that stands out in the submarket.
Originally built in 1978 and extensively renovated in 2024, the property has benefited from approximately $300,000 in recent capital improvements, including upgraded interiors, fresh exterior paint, enhanced lighting, parking lot repairs, and new privacy fencing. With a history of 100% occupancy and minimal delinquency, Heritage Manor offers immediate cash flow backed by durable renter demand.
Positioned in one of Washington’s strongest growth corridors, the property is surrounded by major employers, ongoing industrial expansion, and a supply-constrained rental market. Heritage Manor combines proven performance, modern upgrades, and long-term upside in a market where quality rental housing continues to outperform.
- Heritage Manor is a well-maintained investment opportunity, with over $300,000 invested in capital expenditures to enhance the property's value with both interior and exterior upgrades.
- The property boasts a 100% occupancy rate with no delinquency, providing a stable and reliable income stream as a long-term investment.
- Each unit features a two-story layout with two bedrooms and 1.5 bathrooms; in-unit amenities include central air conditioning and private backyards.
- Proximity to the Tri-Cities' largest employers - including Battelle/PNNL (5,300 employees) and Kadlec Regional Medical Center (3,800 employees) - supports a stable, income-driven renter base and helps sustain occupancy across economic cycles.
- The adjacent North Horn Rapids master-planned industrial district is creating a growing employment hub across 200-500 acres, targeting value-added agriculture, clean energy, and advanced manufacturing - drivers that are expected to support durable renter demand for years to come.
Originally built in 1978 and extensively renovated in 2024, the property has benefited from approximately $300,000 in recent capital improvements, including upgraded interiors, fresh exterior paint, enhanced lighting, parking lot repairs, and new privacy fencing. With a history of 100% occupancy and minimal delinquency, Heritage Manor offers immediate cash flow backed by durable renter demand.
Positioned in one of Washington’s strongest growth corridors, the property is surrounded by major employers, ongoing industrial expansion, and a supply-constrained rental market. Heritage Manor combines proven performance, modern upgrades, and long-term upside in a market where quality rental housing continues to outperform.
- Heritage Manor is a well-maintained investment opportunity, with over $300,000 invested in capital expenditures to enhance the property's value with both interior and exterior upgrades.
- The property boasts a 100% occupancy rate with no delinquency, providing a stable and reliable income stream as a long-term investment.
- Each unit features a two-story layout with two bedrooms and 1.5 bathrooms; in-unit amenities include central air conditioning and private backyards.
- Proximity to the Tri-Cities' largest employers - including Battelle/PNNL (5,300 employees) and Kadlec Regional Medical Center (3,800 employees) - supports a stable, income-driven renter base and helps sustain occupancy across economic cycles.
- The adjacent North Horn Rapids master-planned industrial district is creating a growing employment hub across 200-500 acres, targeting value-added agriculture, clean energy, and advanced manufacturing - drivers that are expected to support durable renter demand for years to come.
Data Room Click Here to Access
Property Facts
| Price | $2,250,000 | Building Class | C |
| Price Per Unit | $225,000 | Lot Size | 0.70 AC |
| Sale Type | Investment | Building Size | 9,600 SF |
| Cap Rate | 5.86% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1978/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.6/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-4 | ||
| Price | $2,250,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 5.86% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 9,600 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2024 |
| Parking Ratio | 2.6/1,000 SF |
| Zoning | RM-4 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Refrigerator
- Yard
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 10 | - | 960 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 105891090002005 | Improvements Assessment | $1,083,700 |
| Land Assessment | $226,400 | Total Assessment | $1,310,100 |
Property Taxes
Parcel Number
105891090002005
Land Assessment
$226,400
Improvements Assessment
$1,083,700
Total Assessment
$1,310,100
Contacts
-
Chad Blenz -
Beau Krueger -
Mitchell Belcher -
Steven Chattin -
Jay Timpani -
Brandon Lawler -
Berkadia
1 of 12
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Heritage Manor Apartments | 6721 W Kennewick Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.