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Canyon Crest Apartments
9045 Canyon Dr Kent WA 98030
Listing #: 679706 | Status: Pending | Last Modified: 9/25/2024
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 165,425 |
| Vacancy Factor % | 5.00% |
| Operating Expenses | 63,483 |
| Net Operating Income | 93,670 |
| CAP Rate | 5.83 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Total Units | 9 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Financial Summary | |
|---|---|
| CAP Rate | 5.825 |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 1 |
| # of Floors | 1 |
| # of Units | 9 |
| # of Elevators | 0 |
| Total Building SF | 8,863 SF |
| Net Rentable Area | 6,271 SF |
| Total Office SF | 0 SF |
| Largest Contiguous SF | 0 SF |
| Lot SF | 23,522 SF |
| Acres | 0.54 |
| Year Built | 1957 |
| Property Type | |
|---|---|
| Property Type | Multi-Family |
| Investment | Yes |
| Location | |
|---|---|
| County | King |
| Market Area | Kent |
| Tax ID # | 1922059055 |
| Zoning | MR-D |
| Parking Information | |
|---|---|
| #Covered Spaces | 8 |
| # Uncovered Spaces | -8 |
| Total Parking Spots | 0 |
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
Canyon Crest Apartments
9045 Canyon Dr Kent WA 98030
Listing #: 679706 | Status: Pending | Listing Date: 4/2/2024 | Last Modified: 9/25/2024 | Email Listing
For Sale
Canyon Crest Apartments
