1417 5Th St Wenatchee, WA 98801
- Commercial real estate
- 0.92 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1417 5Th St
- Year built
- 2023
- Lot size
- 0.92 lot acres
- Property type
- Commercial real estate
- APN
- 222004310150
Description
This exceptional 14-unit townhome community in Wenatchee, WA, presents a compelling investment opportunity. Built in 2023, the property boasts three two-story buildings situated on a 0.92-acre lot. The 26,600 square feet of net rentable space is currently 100% occupied, generating a strong NOI of $270,984 (with a pro-forma NOI of $307,165). Each of the 14 units offers 1,900 square feet of living space, featuring three bedrooms, 3.5 bathrooms, stainless steel appliances, LVP flooring, and in-unit washer/dryer. The property's flexible operational model allows for leasing by the unit or by individual rooms, maximizing income potential. Located across from Wenatchee Valley College and minutes from amenities and employers, this property benefits from a highly desirable location. The asking price is $5,200,000, representing a current cap rate of 5.21% and a pro-forma cap rate of 5.91%. The property is zoned for residential moderate use and offers a price per unit of $371,428.57 and a price per square foot of $195.49. This build-to-rent property is a stabilized asset with high-quality construction and strong tenant demand. The APN is 222004310150.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wenatchee
- County
- Chelan
- State
- Washington
- Longitude
- -120.3370073717
- Latitude
- 47.429869819951
