$2,200,000
Canyon Crest Apartments
Listing Type: For Sale
Property Type: Multi-Family
Status: Available
CBA ID#: 679706
9045 Canyon Dr
Kent, WA 98030

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Commercial Property

Marketing Description:

We are pleased to announce the exclusive listing of the Canyon Crest Apartments. Seller financing is available as a financing option to purchase this property. Current ownership has improved operations over the past 24 months, but rents are still below market and a value-add opportunity exists to fully renovate the units and lift rents higher. The Canyon Crest has seen extensive updates during the last 12 months, with over $160,000 spent on improvements. 6 of the 9 units have been updated with LVP flooring, new appliances, bathroom remodels, and paint. All the electrical panels have been replaced during the process as well. The unit mix of the 9 units is 4 – 1-bed/1-bath units and 5 – 2-bed/1-bath units. Exterior improvements include the installation of a brand-new membrane roof, fresh

Land Features:

  • Lot Size: 23522 SqFt
  • Lot Acreage: 0.54 Acres
  • Zoning: MR-D
  • Covered Parking: 8

Building Features:

  • Building Size: 8863 SqFt
  • Available Space: 6271 SqFt
  • Number of Floors: 1
  • Cap Rate: 4.54%
  • Year Built: 1957
This Listing Supplied Courtesy of Paragon Real Estate Advisors
Information is based on data available to the associate, including county records.
The information has not been verified by the associate and should be verified by the buyer.
Properties with the CBA logo are listed by the Commercial Brokers Association
The associate of this site is not a multiple listing service but is a member of a local MLS.
Equal Housing Opportunity