Grandridge Meadows 1007 Grandridge Road 16 Unit Apartment Building $6,087,639 CAD ($380,477 CAD/Unit) Grandview, WA 98930

Offered at $4,000,000, Grandridge Meadows is priced at $250k/unit with a 6.76% in-place cap rate and a 7.03% proforma cap rate. The included land is priced at $300,000, which is just $10,000 per buildable unit, providing the opportunity to acquire stable new-construction cash-flow while creating a clear path to future growth.
Grandridge Meadows is a boutique, newly constructed multifamily property located at 1007 Grandridge Road in Grandview, Washington. The project comprises sixteen 2-bed, 2-bath units, each averaging over 960 square feet. With modern finishes, durable construction, and efficient layouts, the property is poised to attract long-term tenants looking for high-quality rental housing without the high urban rent premiums.
The site enjoys a central Grandview location near schools, retail centers, and city services. This strong locational positioning, combined with monument signage and polished exterior design, helps reinforce brand visibility and tenant demand. Current operations create strong support for stabilized market rents of $1,885 per unit with additional RUBS income and lean expenses.
What truly elevates this investment is its future scalability. The property sits on over two acres and includes excess land that could accommodate up to 30 additional units under the current zoning. This creates a compelling opportunity for investors to build on existing momentum, expand footprint, and drive additional value in a historically underserved market with stable fundamentals and growing tenant demand.