Investment Overview

Built in 1968, Discovery Shores is a four-building, and twenty-six-unit community located in South Ocean Shores, WA. Walking distance from the Oyhut Bay Seaside Village. Discovery Shores is an attractive community for local employees. From a tenant’s perspective, proximity to the beach, hospitality employers and other attractions make this a great place to call home. Discovery Shores, the second largest market-rate apartment community in Ocean Shores, consists of fourteen studios; eleven one-bedroom, one-bathroom; one two-bedroom, one-bathroom units averaging 655 square feet. All units have access to a common courtyard with a private dock. At a purchase price of $3,100,000, Discovery Shores offers outstanding price per pound metrics at $119,000 per unit and $204 per square foot. An incoming investor can achieve over a 7% cash on cash return in year one.