9045 Canyon Dr
Kent WA 98030
Canyon Crest Apartments
9045 Canyon Dr Kent WA 98030
Listing #: 679706 | Status: Pending | Last Modified: 9/25/2024 |
For Sale
- Phone:(206) 812-9130
- Email:brianp@paragonrea.com
- Office Name:Paragon Real Estate Advisors
- Office Phone:(206) 623-8880
- Office Website:
- Agent Phone:(206) 812-9123
- Agent Email:michael@paragonrea.com
- Agent Phone:(206) 812-9101
- Agent Email:ben@paragonrea.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 1,750,000.0
- $/SF$ 279.1
- $/Unit$ 194,444.4
- Listing StatusPending
- Days on Market179
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income165,425
- Vacancy Factor %5.00%
- Operating Expenses63,483
- Net Operating Income93,670
- CAP Rate 5.83 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units9
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 5.83 %
- Building StatusExisting
- # of Buildings1
- # of Floors1
- # of Units9
- # of Elevators0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF8863
- Net Rentable Area6271
- Total Office SF
- Largest Contiguous SF
- Lot SF23522
- Acres0.54
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building Class
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaKent
- Tax ID #1922059055
- Additional Parcels
- ZoningMR-D
- # Covered Spaces8
- # Uncovered Spaces-8
- Total Parking Spots0
- Parking Ratio
- Year Built1957
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Canyon Crest Apartments
We are pleased to announce the exclusive listing of the Canyon Crest Apartments. Current ownership has improved operations over the past 24 months, but rents are still below market and a value-add opportunity exists to fully renovate the units and lift rents higher. The Canyon Crest has seen extensive updates during the last 12 months, with over $160,000 spent on improvements. 6 of the 9 units have been updated with LVP flooring, new appliances, bathroom remodels, and paint. All the electrical panels have been replaced during the process as well. The unit mix of the 9 units is 4 – 1-bed/1-bath units and 5 – 2-bed/1-bath units. Exterior improvements include the installation of a brand-new membrane roof, fresh exterior paint, replacement of the sewer line connection, landscaping and the
apt. D+S #21314
