Cashmere Business Park Apartments
Unique Multifamily in Cashmere | 20 Units | $113,750/unit
Marketing description
Located at 219-259 Independence Way in the heart of downtown Cashmere, Cashmere Business Park Apartments provides a rare combination of residential and commercial appeal in one of Central Washington’s most desirable small-town markets. The asset includes 20 units, 6 of which feature high-clearance garage bays with overhead doors, offering tenants the flexibility to operate home-based businesses, store equipment, or simply enjoy additional private space. This unique configuration is well suited to Cashmere’s diverse tenant base, which includes tradespeople, remote workers, and entrepreneurs drawn to the area’s lifestyle and affordability.
Cashmere’s downtown continues to evolve with new businesses, restaurants, and community investment, making it an increasingly vibrant place to live and work. The property’s location just off Cottage Avenue puts it steps from Main Street attractions, while Highway 2 provides quick access to Wenatchee (15 minutes east) and Leavenworth (20 minutes west). This regional connectivity, combined with small-town charm, is fueling population growth and rising demand for quality rental housing in the area.
As part of the larger Wenatchee Valley economic corridor, Cashmere enjoys the benefits of Wenatchee’s expanding healthcare and technology sectors, as well as the year-round tourism economy that supports Leavenworth. The result is a stable, growing rental market with limited new supply—creating an ideal scenario for investors seeking long-term returns and potential for operational improvement in a well-located, high-demand asset.
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Investment highlights
Prime Downtown Cashmere Location
Nestled in the heart of Cashmere’s charming and walkable downtown, Cashmere Business Park Apartments benefits from a central location with proximity to local restaurants, shops, and amenities. Independence Way connects directly to Cottage Avenue, providing excellent visibility and convenient access for both residential and commercial tenants. The site is also just minutes from Highway 2, offering quick connections to Wenatchee, Leavenworth, and the broader Wenatchee Valley.
Unique Live-Work Layout with Garage Bays
The property features 20 units, 6 of which are configured with oversized overhead doors and direct-access garage bays that are 16’ tall, a less common and highly desirable amenity for tenants who operate small businesses or require secure storage. This layout is ideal for Cashmere’s mix of local entrepreneurs, tradespeople, and lifestyle tenants who value flexible space for work, hobbies, or vehicles.
Clear Path to Operational Upside
Current operations leave room for improved property performance through professional management, loss-to-lease recovery, and implementation of market-standard utility billbacks. With the right improvements, the property offers immediate cash flow growth and long-term value creation in a tight rental market.
Strategic Location in a Growing Regional Hub
Located between Wenatchee and Leavenworth, Cashmere is a key residential and commercial node in the Wenatchee Valley. The city benefits from regional tourism, agricultural strength, and outdoor recreation. With Wenatchee’s growth as a healthcare and tech employment center and Leavenworth’s continued draw as a destination town, Cashmere is positioned as a stable and affordable alternative for residents and businesses alike.
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