417 Wellington Ave, Walla Walla, WA 99362-2251

This exceptional Class A self-storage portfolio in Walla Walla, Washington, presents a compelling investment opportunity. Comprising two locations – one at 417 Wellington Ave and another at 2548 E. Isaacs Ave – the portfolio encompasses a total of 673 units and 92,445 net rentable square feet. The Wellington Avenue location, built in 2018, currently boasts an 84% occupancy rate as of July 16, 2024, while the newer Isaacs Avenue location (built in 2023) has a 28% occupancy rate. Both properties feature a mix of drive-up and climate-controlled units, enhanced by secure access, surveillance systems, and convenient online payment options. The portfolio benefits from a strong local rental market, with an average rental rate near $1.09 per square foot and overall market occupancy near 90%. The current Net Operating Income (NOI) is $473,864, with a pro-forma NOI projected at $925,740. The properties sit on a combined 4.97 acres of commercially zoned land and are held in fee simple ownership. The portfolio utilizes Syrasoft storage software. The average household income in the area is $80,305. Seller financing is available. Offers are due August 13th, 2024. This is a stabilized facility with significant value-add potential.