Situated on a private 2.78 acres at the top of the hill overlooking the beautiful Lake Chelan and Chelan Mountains, these newly remodeled Lake Chelan View Apartments are within walking distance to the Downtown Chelan. The complex holds studios, one bedroom and two bedroom apartments with 37 parking spots in 3 separate lots, together with a large laundry facility, an office, a maintenance shop and utility room. Each room has a different configuration and size, but all of them have either gorgeous lake or private mountain views. Most are one bedroom suites, with brand new kitchens with slab quartz counter tops, quality cabinetry and appliances, designer vinyl flooring and new carpeting. New plumbing, fire alarms and sprinklers have been installed in the building, together with a comprehensive 24- hour security system, with cameras at all entry points and key-less entry pads for access to the building. Tenants can enjoy barbecues on the outdoor deck while admiring the expansive views. These 22 units are fully leased with excellent rental income history. Most are on fixed leases averaging $1,075 / month per unit, but some of the furnished units have been rented out on short term leases for $2,500 / month! With an onsite manager and excellent leasing services, it is easy to operate this turnkey investment property. There is room to generate even more income: Charge rental for the storage spaces or additional parking spots; Create an additional 2 or 3 studio units within the complex; Furnish more units to capitalize on the excellent short term leasing rates. With the new $45 Million Lake Chelan Community Hospital facility starting construction soon, the source for year-round new tenants continue to increase. Included in the sale is a 3.4 acre vacant lot at the back of the property, which is zoned to build multifamily housing, condominiums, or luxury homes. This lot, once developed, will boast breathtaking, sweeping lake views for the residences.
22 newly renovated lake and mountain view apartments
Front entrance to the apartments
Main parking lot with amazing lake view
Welcoming foyer
Typical lakeview apartment with luxury vinyl flooring
Kitchen with slab quartz countertops and new appliances
Spacious bedroom with gorgeous views
New bathrooms and all new plumbing