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Multifamily

Lakeshore Townhomes

12506 16th St NE, Lake Stevens, WA 98258

Listing Price: $20,000,000

Cap Rate
5.85%
Number of Units
52
Occupancy
94.5%
Price/Unit
$384,615
Price/Gross SF
$321.98
Gross SF
62,116

Investment Overview

The Lakeshore Townhomes is a 52-unit multifamily community located adjacent to the downtown core of Lake Stevens, a suburb in the Seattle MSA. Lakeshore Townhomes offers an incoming investor a stabilized, newly-renovated investment opportunity within a vibrant and growing neighborhood offering a sought-after quality of life.

Investment Highlights

  • 52 units with large floor plans averaging ±1,195 square feet
  • Just over half of the homes have been renovated with white shaker cabinets and brushed nickel hardware, stainless steel appliances, and vinyl plank flooring
  • Partial value-add opportunity: ability to complete renovations on the remaining classic units; proven renovation premiums over $200/month on previously renovated homes
  • Private patios and attached garages or carports available for all homes
  • Located in Lake Stevens, just blocks from North Cove Park with excellent walkability to shopping, restaurants, bars, and grocers
  • Major employers nearby include Boeing, Paine Field, Naval Station Everett, Premera Blue Cross, and more
  • Lake Stevens vacancy rate at 2.9% according to CoStar
  • Potential portfolio sale with Lakeview Townhomes (15 units) within half a mile of Lakeshore

Exclusively Listed By

Financing By

Multifamily

Lakeshore Townhomes

Listing Price: $20,000,000

Cap Rate
5.85%
Number of Units
52
Occupancy
94.5%
Price/Unit
$384,615
Price/Gross SF
$321.98
Gross SF
62,116

Investment Highlights

  • 52 units with large floor plans averaging ±1,195 square feet
  • Just over half of the homes have been renovated with white shaker cabinets and brushed nickel hardware, stainless steel appliances, and vinyl plank flooring
  • Partial value-add opportunity: ability to complete renovations on the remaining classic units; proven renovation premiums over $200/month on previously renovated homes
  • Private patios and attached garages or carports available for all homes
  • Located in Lake Stevens, just blocks from North Cove Park with excellent walkability to shopping, restaurants, bars, and grocers
  • Major employers nearby include Boeing, Paine Field, Naval Station Everett, Premera Blue Cross, and more
  • Lake Stevens vacancy rate at 2.9% according to CoStar
  • Potential portfolio sale with Lakeview Townhomes (15 units) within half a mile of Lakeshore

Investment Overview

The Lakeshore Townhomes is a 52-unit multifamily community located adjacent to the downtown core of Lake Stevens, a suburb in the Seattle MSA. Lakeshore Townhomes offers an incoming investor a stabilized, newly-renovated investment opportunity within a vibrant and growing neighborhood offering a sought-after quality of life.

Exclusively Listed By

Financing By

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