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Multifamily

Lion Head Apartments

8583 Vinup Rd, Lynden, WA 98264

Listing Price: $5,250,000

Cap Rate
4.58%
Number of Units
22
Price/Unit
$238,636

Investment Overview

Lion Head Apartments is a 22-unit apartment complex located in Lynden, Washington. Built in 1992, the property sits on a 0.85 acre lot and is made up of two buildings. The unit mix includes spacious two and three-bedroom units ranging between 913 and 1,628 square feet. Unit amenities include a full kitchen, air conditioning, balcony, fireplace, and party walls for improved noise isolation. Site amenities include storage space, and on-site parking and garage. Lynden is the second largest city in Whatcom County, Washington. It is located 15 miles north of Bellingham and approximately 5 miles south of the Canada–US border. Local employers include BP Cherry Point, the largest oil refinery in Washington State, Intalco Aluminum, which just received $10 million in taxpayer support, and many others in the nearby city of Bellingham. The current market vacancy rate is 1.80%. The property is currently 100% occupied. Lion Head Apartments is great for families as the property is near major employers, schools, and recreational activities. Many major employers are less than a 30-minutes away by car, Lynden High School is across the street and Lynden City Park, one of the city’s finest parks is just a four-minute drive away. Lion Head Apartments is well positioned to capture a quality pool of renters who are seeking affordable, yet spacious units to call home in a well-located area. It offers an investor a great opportunity to capitalize in a market with low vacancy.

Investment Highlights

  • Record low market vacancy
  • Spacious two and three-bedroom units
  • Recreational activities nearby

Exclusively Listed By

Multifamily

Lion Head Apartments

Listing Price: $5,250,000

Cap Rate
4.58%
Number of Units
22
Price/Unit
$238,636

Investment Highlights

  • Record low market vacancy
  • Spacious two and three-bedroom units
  • Recreational activities nearby

Investment Overview

Lion Head Apartments is a 22-unit apartment complex located in Lynden, Washington. Built in 1992, the property sits on a 0.85 acre lot and is made up of two buildings. The unit mix includes spacious two and three-bedroom units ranging between 913 and 1,628 square feet. Unit amenities include a full kitchen, air conditioning, balcony, fireplace, and party walls for improved noise isolation. Site amenities include storage space, and on-site parking and garage. Lynden is the second largest city in Whatcom County, Washington. It is located 15 miles north of Bellingham and approximately 5 miles south of the Canada–US border. Local employers include BP Cherry Point, the largest oil refinery in Washington State, Intalco Aluminum, which just received $10 million in taxpayer support, and many others in the nearby city of Bellingham. The current market vacancy rate is 1.80%. The property is currently 100% occupied. Lion Head Apartments is great for families as the property is near major employers, schools, and recreational activities. Many major employers are less than a 30-minutes away by car, Lynden High School is across the street and Lynden City Park, one of the city’s finest parks is just a four-minute drive away. Lion Head Apartments is well positioned to capture a quality pool of renters who are seeking affordable, yet spacious units to call home in a well-located area. It offers an investor a great opportunity to capitalize in a market with low vacancy.

Exclusively Listed By

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