Investment Overview

Completed in 1985, Hidden Firs is a three-building and sixteen-unit apartment complex in the fast-growing city of Marysville. Tenants enjoy a quiet community tucked off Cedar Avenue, and a majority of tenants choose to stay longer than 5 years. An incoming investor will find numerous major capital improvement projects already completed over the past ten years, including replaced roofs, new windows and sliding glass doors, a resurfaced and restriped parking lot, and new fencing. Hidden Firs consists of six one-bedroom, one-bathroom units averaging ±520 square feet and ten two-bedroom, one-bathroom units averaging ±756 square feet. At a purchase price of $2,825,000, Hidden Firs offers attractive price-per-pound metrics at $176,563 per unit and $265 per square foot. Through interior renovations, an incoming investor can capture a 25% increase on current rents, and stabilize the property at nearly a 7% cap-on-cost.