Depot Estates and Villas 2 Multifamily Properties in Lynden, WA

Northmarq is pleased to present Depot Estates and Villas, a 92-unit multifamily community in Lynden, Washington. The property offers investors a stabilized asset with strong in-place operations and long-term growth potential in one of Northwest Washington’s most supply-constrained multifamily markets.
Completed in two phases in 2017 and 2022, the property features a highly desirable mix of spacious two- and three-bedroom residences designed to meet the needs of Lynden’s growing family-oriented renter base. The community consists of 48 two-bedroom, two-bath units averaging 1,021 square feet and 44 three-bedroom, two-bath units averaging 1,185 square feet. The asset also offers a compelling mark-to-market opportunity, with current rents generally ranging from $50 to $150 per month below comparable market levels.
Lynden continues to benefit from steady population growth, a young and family-oriented demographic profile, and a diversified economic base supported by agriculture, manufacturing, retail, healthcare, and cross-border commerce. With a median household income of approximately $103,800, the city also demonstrates the income strength needed to support sustained rental demand. The city’s limited multifamily development pipeline and constrained housing supply create favorable fundamentals for long-term occupancy and rent growth, positioning Depot Estates and Villas as a compelling long-term investment opportunity.