8715 175Th Ave Redmond, WA 98052

Property Details for 8715 175Th Ave

Year built

1981

Lot size

0.66 lot acres

Property size

10,166 SF

Property type

Commercial real estate

APN

7200002097; 7200002098

Description

This exceptional investment opportunity presents a fully leased, eight-unit apartment building in Redmond, Washington. Situated on a 0.66-acre lot at 8715 & 8721 175th Ave NE, this property consists of two, three-story, four-plex buildings totaling 10,166 square feet (8,216 net rentable square feet). Built in 1981, the property boasts a 100% occupancy rate, generating a pro-forma net operating income (NOI) of $151,106 and a pro-forma cap rate of 4.32%. Each unit features in-unit laundry, a ground floor storage room, and a covered parking stall, with additional on-site parking available. The average unit size is approximately 1,027 square feet. Zoned R-12 (City of Redmond), this central location offers easy access to SR-520, major employers, and numerous retail amenities. The asking price is $3,500,000 ($437,500 per unit), with the option to purchase each building individually for $1,750,000. The property's APN numbers are 7200002097 and 7200002098. This is a rare opportunity to acquire a high-performing multifamily asset in a highly desirable location. The property's strong cash flow and prime location make it an ideal investment for both seasoned and new investors seeking a stable and appreciating asset in the thriving Redmond market.