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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.

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

Exclusively Listed By

Financing By

Multifamily

Rainier Townhomes

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.

Exclusively Listed By

Financing By

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