Multifamily
Rainier Townhomes
6911 Rainier Dr, Everett, WA 98203
Listing Price: $6,500,000
Cap Rate
6.12%
Number of Units
24
Occupancy
95.0%
Price/Unit
$270,833
Price/Gross SF
$300.93
Gross SF
21,600
Investment Overview
Value-add opportunity in Seattle MSA.
Rainier Townhomes
Investment Highlights
- Value-add opportunity: ability to renovate units and raise rents by approximately $300 to market level
- Large two-bedroom townhome units with ±900 square foot floor plans
- Proven renovation premiums with recent leases already achieving renovated Pro Forma rents
- All homes have in-unit washers and dryers
- Within 10 minutes of Boeing's main production facility, Everett at Paine Field; home to 30,000+ jobs
- Easy access to I-5 and major employers in Everett, Seattle, and Bellevue all within 30 minutes
- Long-term ownership: first time on the market in 20+ years
- Potential portfolio sale with the Marnice Apartments (58 units) in Everett, WA
Listing Price: $6,500,000
Cap Rate
6.12%
Number of Units
24
Occupancy
95.0%
Price/Unit
$270,833
Price/Gross SF
$300.93
Gross SF
21,600
Investment Highlights
- Value-add opportunity: ability to renovate units and raise rents by approximately $300 to market level
- Large two-bedroom townhome units with ±900 square foot floor plans
- Proven renovation premiums with recent leases already achieving renovated Pro Forma rents
- All homes have in-unit washers and dryers
- Within 10 minutes of Boeing's main production facility, Everett at Paine Field; home to 30,000+ jobs
- Easy access to I-5 and major employers in Everett, Seattle, and Bellevue all within 30 minutes
- Long-term ownership: first time on the market in 20+ years
- Potential portfolio sale with the Marnice Apartments (58 units) in Everett, WA
Investment Overview
Value-add opportunity in Seattle MSA.
