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Pinehurst Manor 733 10th St NE 16 Unit Apartment Building $3,570,000 ($223,125/Unit) 5.78% Cap Rate Auburn, WA 98002
INVESTMENT HIGHLIGHTS
- 14 of 16 Units Renovated Within Last 3 Years
- Wash/Dry Hookups in Unit
- All New Roofs and Exterior Paint in 2022
EXECUTIVE SUMMARY
Marcus & Millichap are pleased to present Pinehurst Apartments, a well-maintained 16-unit community constructed in 1968, located at 733 10th Street NE, Auburn, WA 98002. The property is in excellent condition and has recently received interior renovations to fourteen of the units, as well as exterior upgrades that include new roofs, exterior paint, and improved landscaping. Through operational improvements, a new owner will benefit from the opportunity to increase the current EGI by an estimated 9% by increasing the monthly rents and utility bill-back to match comparable properties in the area. Pinehurst presents an excellent opportunity for an investor seeking a high-quality asset with ease of management and long-term upside.
Available with additional 24-unit property, Cambridge Lane Apartments, located on same block at 808-908 I Street NE, Auburn, WA.
See Listing Agents for additional details.
Available with additional 24-unit property, Cambridge Lane Apartments, located on same block at 808-908 I Street NE, Auburn, WA.
See Listing Agents for additional details.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,570,000 | Building Class | C |
| Price Per Unit | $223,125 | Lot Size | 0.61 AC |
| Sale Type | Investment | Building Size | 12,000 SF |
| Cap Rate | 5.78% | Average Occupancy | 95% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1968/1981 |
| Property Subtype | Apartment | Parking Ratio | 2.08/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R20 | ||
| Price | $3,570,000 |
| Price Per Unit | $223,125 |
| Sale Type | Investment |
| Cap Rate | 5.78% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.61 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1968/1981 |
| Parking Ratio | 2.08/1,000 SF |
| Zoning | R20 |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer Hookup
- Vaulted Ceiling
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,600 | 650 |
| 2+1 | 8 | $1,825 | 850 |
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Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $3,205,000 (2024) | |
| Land Assessment | $295,400 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,909,600 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$295,400 (2024)
Improvements Assessment
$2,909,600 (2024)
Total Assessment
$3,205,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Pinehurst Manor | 733 10th St NE
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