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Multifamily

Sterling Square Apartments

1201 W Main St, Elma, WA 98541

Listing Price: $1,800,000

Cap Rate
7.01%
Number of Units
12
GRM
9.12
Price/Unit
$150,000
Price/Gross SF
$196.68
Gross SF
9,152

Investment Overview

Built in 1977, Sterling Square Apartments comprise two buildings and twelve units, centrally located in Elma, WA, just across the street from Elma High School. Sterling Square is an appealing community for families, boasting spacious units with private decks and ample landscaping between the buildings, making it the ideal place to call home from a tenant’s perspective. As the largest market-rate apartment community in Elma, Sterling Square features twelve two-bedroom, one-bathroom units averaging approximately 750 square feet each. Every unit is equipped with a washer/dryer package, spacious living room, modern kitchen appliances, and first-floor units also offer a private backyard or courtyard. Priced at $1,800,000, Sterling Square offers exceptional metrics at $150,000 per unit and $200 per square foot. An incoming investor can assume the ±$790,000 loan, resulting in over an 8% cash-on-cash return in the first
year. Sterling Square presents an incredible opportunity to own in a market with low competition.

Investment Highlights

  • Longterm Tenant Base
  • Turn-Key Asset
  • Attractive In-Place & Pro-Forma Cap Rate

Exclusively Listed By

Financing By

Multifamily

Sterling Square Apartments

Listing Price: $1,800,000

Cap Rate
7.01%
Number of Units
12
GRM
9.12
Price/Unit
$150,000
Price/Gross SF
$196.68
Gross SF
9,152

Investment Highlights

  • Longterm Tenant Base
  • Turn-Key Asset
  • Attractive In-Place & Pro-Forma Cap Rate

Investment Overview

Built in 1977, Sterling Square Apartments comprise two buildings and twelve units, centrally located in Elma, WA, just across the street from Elma High School. Sterling Square is an appealing community for families, boasting spacious units with private decks and ample landscaping between the buildings, making it the ideal place to call home from a tenant’s perspective. As the largest market-rate apartment community in Elma, Sterling Square features twelve two-bedroom, one-bathroom units averaging approximately 750 square feet each. Every unit is equipped with a washer/dryer package, spacious living room, modern kitchen appliances, and first-floor units also offer a private backyard or courtyard. Priced at $1,800,000, Sterling Square offers exceptional metrics at $150,000 per unit and $200 per square foot. An incoming investor can assume the ±$790,000 loan, resulting in over an 8% cash-on-cash return in the first year. Sterling Square presents an incredible opportunity to own in a market with low competition.

Exclusively Listed By

Financing By

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