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29492138
29492139

301 Sid Snyder Dr, Long Beach, WA 98631 For Sale

Marcus & Millichap - Sacramento
Listed by Marcus & Millichap - Sacramento
$3,000,000
169 days on market
Updated 61 days ago

Westwind Manor

Details
Property Type Multifamily
Sub Type Affordable Housing
Square Footage 26,814
Units 34
Cap Rate 6.62%
NOI $198,459
Occupancy 100%
Pro-Forma Cap Rate 7.86%
Pro-Forma NOI $235,803
Price per SqFt $112
Broker Co-Op Yes
Class C
Year Built 1981
Buildings 1
Stories 2
Acreage 0.570
Investment Type Stabilized
Ground Lease No
Ownership Fee Simple
Sale Condition For sale by owner

Affordable Housing

Marketing description

Marcus & Millichap is pleased to present Westwind Manor, a stable opportunity to acquire a 34-unit USDA Affordable Housing community located in Long Beach, WA. This property is ideally suited for Affordable Housing investors or mission-driven operators seeking to preserve long-term USDA affordability or pursue a redevelopment strategy with a new set of tax credits.

Westwind Manor consists of 34 units of 1-bed/1-bath. All the units are under USDA Rural Development 515 assistance. The current USDA contract is set to expire in August of 2030, with the potential to apply for a new set of tax credits and redevelop the property.

The current ownership has invested consistently in the property over the past decade. Turnover units are brought to market standards, and necessary repairs are addressed immediately. Over the life of the property, ownership has completed proper maintenance routines to support long-term asset performance and site stability.

Long Beach is a small coastal community on the Long Beach Peninsula in Pacific County, Washington, known for its scenic beachfront nature. The local economy is supported by retail trade, health care & food service sectors that reflect both visitor demand and local service needs. Westwind Manor is surrounded by hotels and restaurants, which provide residents with proximity to employment centers and recreational amenities.

Investment highlights

  • Strong Rental History.

  • Consistent Maintenance Routine.

  • Opportunity To Redevelop.

Listing Contacts

Marcus & Millichap - Sacramento
Listed by Marcus & Millichap - Sacramento

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$198,459.00
$16,538.25/mo

Valuation Metrics

0
DSCR
6.62%
Cap Rate
6.62%
ROI

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Additional Information

Name
Joel Deis
License
WA 25469
Brokerage
Marcus & Millichap
Title
Broker of Record
Brokerage Address
401 Union St., 32nd Floor, Seattle, WA 98101
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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