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Multifamily

The Heights

220 Grandview Ave, Sunnyside, WA 98944

Listing Price: $3,650,000

Cap Rate
5.47%
Number of Units
34
Occupancy
95.0%
Price/Unit
$107,353
Price/Gross SF
$169.72
Gross SF
21,506

Investment Overview

Marcus & Millichap is pleased to present for sale the Heights Apartments, a 34-unit complex, located in Sunnyside, Washington. The Property consists of 32 one-bedroom/one-bathroom units and 2 two-bedroom/one-bathroom units with an average unit size of approximately 632 square feet. The Property was constructed in 1952 with a total lot size of 1.18 acres, including an additional parcel across the street used for parking. The majority of the units have been upgraded over the years. There is a mix of fully remodeled and partially remodeled units. Some of the upgrades include: new appliances, counter tops, flooring (refinished original hardwoods, LVP, or carpet), tub surrounds, sinks, toilets, and tile in bathrooms. Each unit has wall A/C heating in the living room and bedroom. There are double pane vinyl windows throughout the complex and the main electrical system has been upgraded. The property sits on top of a bluff with panoramic views of the Yakima Valley. In addition, there is a rec room, fitness center, onsite office, and laundry facilities all of which have been remodeled as well. The property is conveniently located between Yakima and the Tri-Cities in the heart of the State’s wine country. There are nearly 100 wineries in the area and convenient access to I-82 and regional airports. The area’s largest employers include several hospitals, Walmart, Darigold, and numerous fruit and vegetable producers and distributors. The Heights provides an investor with the opportunity to purchase a unique opportunity in the heart of the state’s wine country. With significant improvements completed to the units, ample amenities, and panoramic views there are no comparable properties in the market. These unique attributes contribute to the property’s fantastic tenant base. There is significant upside potential as well with a $170 spread between the property’s current average rents and its maximum.

Investment Highlights

  • Significant Rental Upside
  • Panoramic Views of Yakima Valley and Wine Country
  • Extensively Remodeled

Exclusively Listed By

Financing By

Multifamily

The Heights

Listing Price: $3,650,000

Cap Rate
5.47%
Number of Units
34
Occupancy
95.0%
Price/Unit
$107,353
Price/Gross SF
$169.72
Gross SF
21,506

Investment Highlights

  • Significant Rental Upside
  • Panoramic Views of Yakima Valley and Wine Country
  • Extensively Remodeled

Investment Overview

Marcus & Millichap is pleased to present for sale the Heights Apartments, a 34-unit complex, located in Sunnyside, Washington. The Property consists of 32 one-bedroom/one-bathroom units and 2 two-bedroom/one-bathroom units with an average unit size of approximately 632 square feet. The Property was constructed in 1952 with a total lot size of 1.18 acres, including an additional parcel across the street used for parking. The majority of the units have been upgraded over the years. There is a mix of fully remodeled and partially remodeled units. Some of the upgrades include: new appliances, counter tops, flooring (refinished original hardwoods, LVP, or carpet), tub surrounds, sinks, toilets, and tile in bathrooms. Each unit has wall A/C heating in the living room and bedroom. There are double pane vinyl windows throughout the complex and the main electrical system has been upgraded. The property sits on top of a bluff with panoramic views of the Yakima Valley. In addition, there is a rec room, fitness center, onsite office, and laundry facilities all of which have been remodeled as well. The property is conveniently located between Yakima and the Tri-Cities in the heart of the State’s wine country. There are nearly 100 wineries in the area and convenient access to I-82 and regional airports. The area’s largest employers include several hospitals, Walmart, Darigold, and numerous fruit and vegetable producers and distributors. The Heights provides an investor with the opportunity to purchase a unique opportunity in the heart of the state’s wine country. With significant improvements completed to the units, ample amenities, and panoramic views there are no comparable properties in the market. These unique attributes contribute to the property’s fantastic tenant base. There is significant upside potential as well with a $170 spread between the property’s current average rents and its maximum.

Exclusively Listed By

Financing By

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