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Crestwood Apartments 9896 Enterprise Ln NW 63 Unit Apartment Building $10,500,000 ($166,667/Unit) 6.01% Cap Rate Silverdale, WA 98383
Investment Highlights
- High-Income Local Demographics
- In-Unit Washers and Dryers
- Wood-Burning Fireplaces
- 56 Fully Renovated Units
- Covered Carport Parking
- Private Balconies with Storage
Executive Summary
Crestwood Apartments is a 63-unit garden-style multifamily asset located in the highly constrained Silverdale submarket. This property offers a proven value-add model with 56 units already fully renovated, leaving 7 classic units for immediate revenue upside upon turnover. The asset features a favorable unit mix of 42 one-bedroom and 21 two-bedroom floorplans and has received significant recent capital expenditures, including luxury vinyl plank flooring, new cabinetry, updated appliance packages, and modern fixtures. It is attractively priced at $166,667 per door, representing a 6.01% Cap Rate. Comprehensive financials, rent rolls, and property condition reports are available in a secure Virtual Deal Room. Access to these documents is strictly controlled, so interested parties and brokers must contact the listing team directly to execute a standard Confidentiality Agreement. Upon NDA approval, a secure, view-only link will be provided for continued underwriting.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$1,196,508
|
$24.05
|
| Other Income |
$146,631
|
$2.95
|
| Vacancy Loss |
$95,720
|
$1.92
|
| Effective Gross Income |
$1,247,419
|
$25.07
|
| Taxes |
$106,230
|
$2.14
|
| Operating Expenses |
$510,650
|
$10.26
|
| Total Expenses |
$616,880
|
$12.40
|
| Net Operating Income |
$630,539
|
$12.67
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $1,196,508 |
| Annual Per SF | $24.05 |
| Other Income | |
|---|---|
| Annual | $146,631 |
| Annual Per SF | $2.95 |
| Vacancy Loss | |
|---|---|
| Annual | $95,720 |
| Annual Per SF | $1.92 |
| Effective Gross Income | |
|---|---|
| Annual | $1,247,419 |
| Annual Per SF | $25.07 |
| Taxes | |
|---|---|
| Annual | $106,230 |
| Annual Per SF | $2.14 |
| Operating Expenses | |
|---|---|
| Annual | $510,650 |
| Annual Per SF | $10.26 |
| Total Expenses | |
|---|---|
| Annual | $616,880 |
| Annual Per SF | $12.40 |
| Net Operating Income | |
|---|---|
| Annual | $630,539 |
| Annual Per SF | $12.67 |
Property Facts Under Contract
| Price | $10,500,000 | Building Class | C |
| Price Per Unit | $166,667 | Lot Size | 3.72 AC |
| Sale Type | Investment | Building Size | 49,749 SF |
| Cap Rate | 6.01% | Average Occupancy | 94% |
| No. Units | 63 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1988 |
| Property Subtype | Apartment | Parking Ratio | 3.06/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RC - 137 - 50+ Units | ||
| Price | $10,500,000 |
| Price Per Unit | $166,667 |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| No. Units | 63 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.72 AC |
| Building Size | 49,749 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built | 1988 |
| Parking Ratio | 3.06/1,000 SF |
| Zoning | RC - 137 - 50+ Units |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Recycling
- Smoke Free
- Online Services
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 42 | - | 723 |
| 2+1 | 21 | - | 923 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 162501-4-078-2007 | Total Assessment | $11,190,660 |
| Land Assessment | $1,690,900 | Annual Taxes | $106,230 ($2.14/SF) |
| Improvements Assessment | $9,499,760 | Tax Year | 2026 |
Property Taxes
Parcel Number
162501-4-078-2007
Land Assessment
$1,690,900
Improvements Assessment
$9,499,760
Total Assessment
$11,190,660
Annual Taxes
$106,230 ($2.14/SF)
Tax Year
2026
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