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26861267
26861268

14601 1st Avenue South, Parkland, WA 98444 For Sale

Best Choice Realty
Listed by Best Choice Realty
$12,800,000
313 days on market
Updated 5 days ago

Coventry Villas

Details
APN 9830000023, 9830000032
Property Type Multifamily
Sub Type Apartment Building
Square Footage 74,868
Net Rentable (SqFt) 56,302
Units 38
Cap Rate 5.70%
NOI $729,543
Occupancy 100%
Price per SqFt $171
Broker Co-Op Yes
Year Built 2022
Buildings 9
Stories 3
Lot Size (SqFt) 88,300
Zoning TCTR
Parking Spaces 3 per unit
Investment Type Stabilized
Occupancy Date 09/09/2025

Multifamily | 38 Units | $336,842/unit

Marketing description

Coventry Villas located in the community of Parkland, Washington is a stabilized 38 unit townhome development on 2.08 acres. Completed in the summer of 2022, all units are approximately 1,482 square feet in size with three bedrooms, two and one half baths and an attached single car garage.

The location is ideal for commuters with easy access to Hwy’s 512, 167 and Interstate 5. Nearby employers include Joint Base Lewis McCord, Amazon, Franciscan Health, Tesla and Pacific Lutheran College.

Coventry Villas benefits from a competitive advantage to surrounding properties offering tenants larger and newer units.

Investment highlights

Unit Amenities

Air conditioning

Stainless steel appliances

Recessed LED lights

Washer/dryer in each unit

Quartz countertops

Luxury Vinyl Tile flooring

Open floor plan

Large Units – 1,482 SQFT.

Parking

Each unit comes with a 488 square foot single car attached garage and driveway parking. One assigned curbside parking space is located in front of each unit on the street. Additional offsite parking is also available.

Onsite Amenities

Coventry Villas has a dedicated picnic and barbeque area for residents.

Utilities

Tenants pay $50 per month for utilities and $30 per month for internet access through Xfinity. Units are separately metered for power and water. Curbside garbage pickup is billed direct to the tenants. Landlord is responsible for the sewer charge.

Listing Contacts

Best Choice Realty
Listed by Best Choice Realty

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$729,543.00
$60,795.25/mo

Valuation Metrics

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DSCR
5.7%
Cap Rate
5.7%
ROI

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