Investment Overview

The Rhoades Group of Marcus & Millichap is pleased to exclusively present Tower View Apartments, an 11-unit multifamily investment opportunity located in College Place. The property consists of four separate residential structures situated on a 0.61-acre tax lot, including one fourplex, one triplex, and two duplexes. Three of the four buildings were constructed between 1975 and 1982, while the original 1910 structure has undergone significant upgrades and modernization over time. Throughout the current ownership’s six-year tenure, the asset has benefited from professional management and consistent maintenance. Notable capital improvements include roofs on all structures within the past 10 years and upgraded ABS plumbing with copper supply lines in three of the four buildings. Additionally, six of the 11 units have been renovated, featuring newer appliances, updated LVP and carpet flooring combinations, cadet heating systems, and in-wall air conditioning. The property offers a desirable unit mix of eight two-bedroom, one-bathroom units and three one-bedroom, one-bathroom units, with sizes ranging from approximately 500 to 843 square feet. The multi-building layout provides a more residential setting while reducing concentration risk and enhancing operational flexibility. Tower View Apartments is strategically located near Walla Walla University and downtown Walla Walla. The surrounding area is supported by a diverse economic base including education, healthcare, agriculture, and tourism. Proximity to the Tri-Cities growth corridor further strengthens rental demand, supporting stable occupancy and long-term rent growth.