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Campus Village Apartments 925 E 18th Ave 41 Unit Apartment Building $5,200,000 ($126,829/Unit) Ellensburg, WA 98926
Investment Highlights
- Located directly across the street from Central Washington University
- Large courtyard to add outdoor amenities such as fire pits, BBQ space, bocce ball, etc.
- Ample recent improvements including eight renovated units, resealed parking lot, & more
- Well-maintained, prime value-add opportunity
- Majority of systems replaced and updated
- Ability to raise rents with as-is unit interiors
Executive Summary
Located directly across the street from Central Washington University, Campus Village is a well-maintained asset presenting a compelling value-add opportunity. Major building systems have been replaced and updated, and recent capital improvements include eight renovated units, a resealed parking lot, and additional upgrades throughout. With strong fundamentals already in place, investors have a clear path to increase rental rates through continued interior renovations of as-is units. The property also features a large central courtyard with the potential to add outdoor amenities such as fire pits, BBQ areas, and bocce ball, enhancing tenant appeal.
Property Facts
| Price | $5,200,000 | Building Class | C |
| Price Per Unit | $126,829 | Lot Size | 2.25 AC |
| Sale Type | Investment | Building Size | 70,941 SF |
| No. Units | 41 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1966 |
| Apartment Style | Garden | Parking Ratio | 1.3/1,000 SF |
| Zoning | RMD | ||
| Price | $5,200,000 |
| Price Per Unit | $126,829 |
| Sale Type | Investment |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.25 AC |
| Building Size | 70,941 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.3/1,000 SF |
| Zoning | RMD |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Security System
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Dining Room
- Patio
- Smoke Free
- Window Coverings
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 650 |
| 2+1 | 21 | - | 850 - 1,000 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 184034 | Improvements Assessment | $2,968,860 |
| Land Assessment | $609,620 | Total Assessment | $3,578,480 |
Property Taxes
Parcel Number
184034
Land Assessment
$609,620
Improvements Assessment
$2,968,860
Total Assessment
$3,578,480
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Campus Village Apartments | 925 E 18th Ave
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