Listed by Windermere Real Estate / Skagit Valley
$5,818,000
VILLAORBA
Details
Property Type Multifamily
Sub Type Apartment Building
Units 33
Cap Rate 6.00%
NOI $349,115
Occupancy 97.5%
Tenancy Multi
Pro-Forma Cap Rate 6.00%
Pro-Forma NOI $469,590
Year Built 1972
Buildings 4
Acreage 2.300
Zoning C-2
Investment Type Stabilized
Multifamily | 6.00% CAP | 33 Units
Marketing description
Windermere Commercial Real Estate is pleased to offer for sale the Villaorba Apartment Complex. Villaorba consists of 33 units located out of the flood plain and in the vacinity of the medical community, schools, office and retail. Location provides easy access to I-5, Division Street, Riverside Drive and College Way. Close proximty to the busline.
The Complex consists of 4 buildings with a central courtyard, carports, stalls, garages and laundry area.
Investment highlights
- Villaorba consist of the following configurations: 13 - 1 Bed and 1 Bath, 15 - 2 bed and 2 bath, 5 - 2 bed and 2 bath, 3 - Garages
- Built from 1972 - 1974 these units are well maintained with storage areas in the kitchen and hall entry.
- Units are updated on a continual basis and the occupancy averages 95-100%
- Conveniently located in the Mount Vernon City Limits just east of I-5 and out of the Flood Plain, this site is easily accessible from both downtown Mount Vernon and College Way.
- Mount Vernon is approx. 60 miles north of Seattle and 65 miles south of Vancouver, BC; it is one of the fastest growing cities in the Northwest and the largest city in Skagit County.
- This site has a close proximity to Medical, Elementary and Highschool, Skagit Valley College, County and City agencies, and Retail.
- Other supporting Industries include Skagit Regional Airport, Deep-Water Seaports, Rail and Truck Routes throughout the United States and Canada, Janicki Industries .
- Skagit County provides a skilled workforce and a strong education system.
Listing Contacts
Listed by Windermere Real Estate / Skagit Valley
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$349,115.00
$29,092.92/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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