Crestview Apartments
75 Unit Apartment Building | $9,850,000 ($131,333/Unit) | 7.22% Cap Rate | Renton, WA 98057
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $9,850,000
- Property Type
-
Multifamily
- Square Feet
- 75,000 SF
Listing Contacts
Ray West
Verified Profile
- Property Info
Property Overview
On the market for the first time in over 50 years, The Crestview Apartments is a garden-style, 75 unit apartment complex in the growing and vibrant city of Renton, Washington. The property sits on 3.85 acres of CA(Commercial Arterial). In addition to being an excellent opportunity for an existing value add rehabilitation, there is also inherent value in the land for larger future development. A rare combination of an existing value add and covered land play.
Six separate single story structures allow for an ideal renovation schedule. The buildings are in excellent condition with brick veneer and cement tile roofs. Terrific views over downtown Renton, Lake Washington and the cascades. Ample existing parking with a dedicated space for every unit.
Six separate single story structures allow for an ideal renovation schedule. The buildings are in excellent condition with brick veneer and cement tile roofs. Terrific views over downtown Renton, Lake Washington and the cascades. Ample existing parking with a dedicated space for every unit.
Property Details
- Class
- C
- Year Built
- 1957
- Stories
- 1
- Lot Size (sq. ft)
- 167,706 SF
- Units
- 75
Highlights
- First Time on Market in 50+ Years
- Excellent Value Add Scenario
- Six Separate Single-Level Buildings
- Future Development Potential
- 3.85 Acres
- 97% Current Occupancy
Nearby Properties
Similar Properties
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