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Multifamily

Twin Cedars

1717 S 305th Pl, Federal Way, WA 98003

Listing Price: $1,300,000

Cap Rate
5.89%
Number of Units
7
Occupancy
95.0%
Price/Unit
$185,714
Price/Gross SF
$205.37
Gross SF
6,330

Investment Overview

Built in 1976, Twin Cedars is a two-story apartment building featuring one- and two-bedroom homes. Twin Cedars offers an incoming investor the opportunity to purchase in one of the most dynamic residential corridors in South King County. The diverse unit mix features spacious apartment homes well-positioned for future renovations and rental upside which has already been illustrated in select homes.

Investment Highlights

  • Value-add opportunity: rental upside through complete renovations
  • Select units have been renovated, demonstrating a clear premium
  • Balanced unit mix: one- and two-bedroom homes available
  • Spacious units averaging ±904 square feet
  • Balconies available in select units
  • Located in Federal Way: excellent proximity to transit, major employers, and local amenities; less than 5-minutes from The Commons at Federal Way shopping and dining
  • Community amenities include Steel Lake Park, PowellsWood Botanical Gardens, and Dash Point State Park
  • Strong market fundamentals: average vacancy of 3.6% across Federal Way

Exclusively Listed By

Listing Price: $1,300,000

Cap Rate
5.89%
Number of Units
7
Occupancy
95.0%
Price/Unit
$185,714
Price/Gross SF
$205.37
Gross SF
6,330

Investment Highlights

  • Value-add opportunity: rental upside through complete renovations
  • Select units have been renovated, demonstrating a clear premium
  • Balanced unit mix: one- and two-bedroom homes available
  • Spacious units averaging ±904 square feet
  • Balconies available in select units
  • Located in Federal Way: excellent proximity to transit, major employers, and local amenities; less than 5-minutes from The Commons at Federal Way shopping and dining
  • Community amenities include Steel Lake Park, PowellsWood Botanical Gardens, and Dash Point State Park
  • Strong market fundamentals: average vacancy of 3.6% across Federal Way

Investment Overview

Built in 1976, Twin Cedars is a two-story apartment building featuring one- and two-bedroom homes. Twin Cedars offers an incoming investor the opportunity to purchase in one of the most dynamic residential corridors in South King County. The diverse unit mix features spacious apartment homes well-positioned for future renovations and rental upside which has already been illustrated in select homes.

Exclusively Listed By

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