Lords Apartments
Multifamily | 6.38% CAP | 10 Units
Marketing description
Lords Apartments offers the opportunity to acquire a thoughtfully improved multifamily asset that pairs strong physical quality with immediate in-place performance. The property has benefited from a substantial renovation program, including a fully renovated six-unit building, and four newer units at the rear in a distinctive carriage house, creating an attractive mix of updated living spaces with reduced near-term capital needs. The finish level and care put into the improvements are evident throughout the asset and help position the property above typical competing inventory in the market.
Beyond the renovation story, Lords Apartments is compelling because of its stability and uniqueness. The property has a dependable financial profile supported by consistent operations and in-place returns, giving investors confidence in the day-one income stream. At the same time, the buildings offer a level of character that is increasingly difficult to find, with distinctive architecture and varied floorplans that give each unit its own identity. That combination of stable performance and boutique appeal creates a differentiated investment opportunity with lasting tenant demand.
Located at 329 S 3rd Ave, the property benefits from an excellent in-town Walla Walla setting near downtown amenities, neighborhood services, and major employment drivers. The location complements the character of the asset, offering residents a convenient and walkable living experience in one of Eastern Washington's most established small markets. Altogether, Lords Apartments stands out as a high-quality, character-rich asset in a desirable location, backed by stable operations and thoughtful renovations.
Investment highlights
- Impeccably Maintained Buildings - Few small multifamily assets combine this level of architectural character with meaningful renovation work. Each unit features a different floorplan, giving the property a boutique feel and reinforcing the charm, individuality, and appeal that define Lords Apartments as a differentiated investment opportunity.
- High Quality Renovation - Lords Apartments has been extensively improved with a thoughtful renovation program that elevates both the resident experience and the long-term durability of the asset. With a fully renovated six-unit building and four newer units in a distinct carriage house, the property offers high-quality finish level that stands out in the Walla Walla market.
- Desirable Walla Walla Location - Located in a highly desirable in-town Walla Walla setting near downtown amenities, neighborhood services, and major employers. The walkable location enhances tenant demand and supports the property's positioning as a convenient, character-rich housing option in one of Eastern Washington's most established small markets.
- Stable Financial History - The property offers a dependable operating profile supported by consistent in-place performance and a clear history of occupancy and collections. With in-place returns in the 6% range and a pricing basis that reflects current operations, Lords Apartments presents investors with a stabilized asset and immediate cash flow.
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