237 Leavenworth RdLeavenworth, WA 98826

Property Details for 237 Leavenworth Rd

Year built

1922

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 23-unit apartment building located at 237 Leavenworth Street, Leavenworth, WA 98826. The property, a four-story building constructed in 1922 and renovated in 2020, boasts 11,960 square feet of net rentable space situated on a 3,781 square foot lot. Currently operating at 87% occupancy, the building generates a Net Operating Income (NOI) of $244,387, representing a 6.52% cap rate. Pro-forma projections indicate a NOI of $297,949 and a 7.95% cap rate, showcasing significant value-add potential. The property features 23 studio units, each individually metered for gas and electric. The building is equipped with two new commercial-grade water heaters and offers additional basement storage space. The roof, a flat tar and gravel, was installed within the last ten years. The property is zoned RC4 and is offered as a fee-simple ownership. The asking price is $3,750,000, translating to $163,043.48 per unit. This represents a rare opportunity to acquire a well-maintained, highly-occupied multifamily asset with substantial upside potential in a desirable location.

Location Insight

City

Leavenworth

County

Chelan

State

Washington

Latitude

47.5962

Longitude

-120.661

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].