22805 30th Ave S Des Moines, WA 98198
11-unit apartment building with in-place 6.5% cap rate.
Property size:
7,300 SFPrice / SF:
$236/SF- Added:
- May 9, 2025
- Days on Market:
- 364
- Last Refresh:
- Mar 16 at 9:08 am
Property Features for 22805 30th Ave S
General Information
- Standard status
- Active
- Size
- 7,300 SF
Building Details
- Year Built
- 1968
Listing agent BRIAN PLATT
Listing office PARAGON REAL ESTATE ADVISORS
Listing date May 9, 2025
Source Corcoran
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of PARAGON REAL ESTATE ADVISORS
HighLights
- Opportunity to assume existing loan with ~$1,155,000 balance at 5% interest fixed until January 2031.
- In‑place 6.5% current cap rate with operational upside to reach 6.8% proforma cap rate.
- Mix of unit types: four classic and four renovated 1‑bedroom/1‑bathroom units (620 sq ft), plus two classic and one renovated 2‑bedroom/1‑bathroom units (780 sq ft).
- Renovated units feature LVP flooring, formica countertops, stainless steel appliances, and updated bathroom vanities.
- Eleven‑unit apartment building.
- Built in 1968.
Overview
Vashon Vue Apartments Opportunity
The Vashon Vue Apartments, an 11-unit building, offers the opportunity to acquire an in-place 6.5% current cap rate with operational upside to reach a 6.8% proforma cap rate. The property includes the opportunity to assume the existing loan with an approximate balance of $1,155,000 at a 5% interest rate fixed until January 2031. The Vashon Vue consists of four classic and four renovated 1-bedroom/1-bathroom units, each 620 square feet, along with two classic and one renovated 2-bedroom/1-bathroom units, each 780 square feet. The renovated units feature LVP flooring, formica countertops, stainless steel appliances, and a tasteful vanity package for the bathrooms. The location of the Vashon Vue offers proximity to several well-r.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- King
- State
- Washington
- Longitude
- -122.295
- Latitude
- 47.3976
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 11-unit apartment building with in-place 6.5% cap rate.
Where is this apartment building located?
The property is located at 22805 30th Ave S Des Moines, WA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Opportunity to assume existing loan with ~$1,155,000 balance at 5% interest fixed until January 2031.; In‑place 6.5% current cap rate with operational upside to reach 6.8% proforma cap rate.; Mix of unit types: four classic and four renovated 1‑bedroom/1‑bathroom units (620 sq ft), plus two classic and one renovated 2‑bedroom/1‑bathroom units (780 sq ft).
