201 Palouse St, Walla Walla, WA 99362-3024

This exceptional 7-unit apartment building, known as The Terrace, presents a compelling investment opportunity in the heart of Walla Walla, Washington. Located at 201 S Palouse St, this meticulously renovated property boasts 6,930 square feet of net rentable space within a 990-square-foot building on a 0.33-acre lot. Built in 1961 and completely renovated in 2022, The Terrace offers a blend of classic charm and modern luxury. Each of the seven units features a desirable townhouse-style layout, encompassing two stories, two bedrooms, and a full bathroom upstairs. The main floor includes a kitchen, living room, laundry area, and a half-bath. High-end finishes throughout include stainless steel appliances and granite countertops. Residents enjoy covered parking (one space per unit) and a private fenced backyard. The property's prime location near downtown Walla Walla and Whitman College ensures high occupancy rates and strong rental demand. The current pro-forma NOI is $104,764, resulting in a 5.82% pro-forma cap rate. Further income potential exists through the rental of parking and storage units. The property is zoned RM and has an APN of 360720750008. This turnkey asset represents a rare opportunity to acquire a high-quality, income-generating property in a thriving Washington community. The asking price is $1,800,000.