Multifamily
Pinehurst Apartments
733 10th St NE, Auburn, WA 98002
Listing Price: $3,570,000
Investment Overview
Marcus & Millichap are pleased to present Pinehurst Apartments, a well-maintained 16-unit community constructed in 1968, located at 733 10th Street NE, Auburn, WA 98002. This property offers a value-add investment opportunity with recent capital improvements and modernized interiors. The current owner has renovated the interiors of fourteen of the sixteen units, and has performed exterior upgrades that include new roofs, exterior painting and light landscaping.
The property features a mix of eight one-bedroom/one bath units that are approximately 650 sq. ft. & 8 two-bedroom/one bath units that are approximately 850 sq. ft. The units are well equipped with full kitchens with stove/range, refrigerator and dishwashers, bathrooms along with washer and dryer hookups. The upstairs units all feature vaulted ceilings.
Pinehurst Apartments is available for $223,125 per unit and $297 per foot, offering an attractive in-place cap rate of 5.77%. This well positioned asset presents an excellent opportunity for investors seeking a stabilized community with long-term potential.
Pinehurst Apartments
Investment Highlights
- Located in Auburn-Kent Valley, centrally located between Seattle and Tacoma. Close to major transit lines, restaurants, grocery stores, The Outlet Collection Mall.
- Ideally suited for buyers or rents seeking affordability, access, and long-term upside in a high growth corridor.
- Median home value in Zip code 98002 is $620,669, higher than Puyallup & Tacoma and closely tracking Kent's pricing trends.
Exclusively Listed By
Listing Price: $3,570,000
Investment Highlights
- Located in Auburn-Kent Valley, centrally located between Seattle and Tacoma. Close to major transit lines, restaurants, grocery stores, The Outlet Collection Mall.
- Ideally suited for buyers or rents seeking affordability, access, and long-term upside in a high growth corridor.
- Median home value in Zip code 98002 is $620,669, higher than Puyallup & Tacoma and closely tracking Kent's pricing trends.
Investment Overview
Marcus & Millichap are pleased to present Pinehurst Apartments, a well-maintained 16-unit community constructed in 1968, located at 733 10th Street NE, Auburn, WA 98002. This property offers a value-add investment opportunity with recent capital improvements and modernized interiors. The current owner has renovated the interiors of fourteen of the sixteen units, and has performed exterior upgrades that include new roofs, exterior painting and light landscaping. The property features a mix of eight one-bedroom/one bath units that are approximately 650 sq. ft. & 8 two-bedroom/one bath units that are approximately 850 sq. ft. The units are well equipped with full kitchens with stove/range, refrigerator and dishwashers, bathrooms along with washer and dryer hookups. The upstairs units all feature vaulted ceilings. Pinehurst Apartments is available for $223,125 per unit and $297 per foot, offering an attractive in-place cap rate of 5.77%. This well positioned asset presents an excellent opportunity for investors seeking a stabilized community with long-term potential.
Exclusively Listed By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.