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1103 Creekwood Ct SE - Creekwood Ct 4-Plex 4 Unit Apartment Building Offered at $1,245,034 CAD at a 4.66% Cap Rate Olympia, WA 98501
INVESTMENT HIGHLIGHTS
- Olympia School District
- In-unit washer and dryer
- Individual 1-car garage for each unit
EXECUTIVE SUMMARY
Fully rented 4-plex in the Olympia School District. Each unit includes its own garage and in-unit washer and dryer, a rare combination that adds convenience and long-term appeal. Three of the four units have been beautifully remodeled top to bottom with updated kitchens, new flooring, and modern finishes. Major exterior updates include new concrete plank siding, newer roof, and windows, ensuring lower maintenance and long-term durability. Located minutes from parks, schools, and shopping, this well-maintained property attracts strong tenant demand. Reliable rental history, desirable unit features, and potential for increased rents make this a smart addition to any portfolio. A solid opportunity for new and seasoned investors.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$93,066
|
$25.74
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$1,870
|
$0.52
|
| Effective Gross Income |
$91,196
|
$25.22
|
| Taxes |
$13,622
|
$3.77
|
| Operating Expenses |
$18,669
|
$5.16
|
| Total Expenses |
$32,291
|
$8.93
|
| Net Operating Income |
$58,906
|
$16.29
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $93,066 |
| Annual Per SF | $25.74 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $1,870 |
| Annual Per SF | $0.52 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $91,196 |
| Annual Per SF | $25.22 |
| Taxes (CAD) | |
|---|---|
| Annual | $13,622 |
| Annual Per SF | $3.77 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $18,669 |
| Annual Per SF | $5.16 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $32,291 |
| Annual Per SF | $8.93 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $58,906 |
| Annual Per SF | $16.29 |
PROPERTY FACTS
| Price | $1,245,034 CAD | Property Type | Multifamily |
| Price Per Unit | $311,259 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 4.66% | Building Size | 3,616 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 14 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1992 |
| Zoning | RM-18 | ||
| Price | $1,245,034 CAD |
| Price Per Unit | $311,259 CAD |
| Sale Type | Investment |
| Cap Rate | 4.66% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 14 |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 3,616 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1992 |
| Zoning | RM-18 |
AMENITIES
UNIT AMENITIES
- Balcony
- Storage Space
- Washer/Dryer Hookup
- Double Pane Windows
- Vinyl Flooring
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $1,939 CAD | 904 |
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PROPERTY TAXES
| Parcel Number | 43060002800 | Total Assessment | $1,316,984 CAD (2024) |
| Land Assessment | $394,450 CAD (2024) | Annual Taxes | $13,622 CAD ($3.77 CAD/SF) |
| Improvements Assessment | $922,534 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
43060002800
Land Assessment
$394,450 CAD (2024)
Improvements Assessment
$922,534 CAD (2024)
Total Assessment
$1,316,984 CAD (2024)
Annual Taxes
$13,622 CAD ($3.77 CAD/SF)
Tax Year
2025
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1103 Creekwood Ct SE - Creekwood Ct 4-Plex
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