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Walnut Trail 200 E McCorquedale Rd 120 Unit Apartment Building For Sale Burlington, WA 98233
Investment Highlights
- Turn-Key, New Construction Asset: Built in 2025, offering modern design, systems, and minimal near-term capital needs
- Strong Rental Demand: The property reached stabilization in just 10 months, reflecting strong leasing velocity and sustained renter interest
- Strong Parking Ratio: 1.68 spaces per unit, providing excellent resident parking availability
- Demographics & Regional Tenant Base: Burlington’s population is diverse and family-oriented, with approximately 22% under 18 and a median age of 38
- Limited New Supply: Modest development pipeline supports sustained rental demand
- Strategic Regional Location: Positioned along the I-5 corridor between Seattle and Vancouver, BC, providing excellent regional connectivity
Executive Summary
Northmarq is pleased to present Walnut Trail, a 120-unit, newly constructed multifamily community in Burlington, Washington — offering investors a stabilized, turn-key asset with strong in-place yield and long-term upside in a supply-constrained I-5 corridor submarket.
Delivered in 2025, the property comprises 95,355 net rentable square feet across a diverse unit
mix of open one-, one-, two-, and three-bedroom residences. Walnut Trail achieved stabilization in
under 12 months — reaching 96% occupancy ahead of typical lease-up timelines — demonstrating exceptional market validation and strong underlying renter demand. With minimal near-term capital requirements and modern finishes throughout, the asset offers institutional-quality operations from day one.
Burlington sits midway along the I-5 corridor connecting Seattle and Vancouver, B.C. — a position that broadens the renter pool to commuters serving both metro economies. The local multifamily market remains supply-constrained relative to demand, with a measured construction pipeline that supports continued rent growth and long-term occupancy stability.
Delivered in 2025, the property comprises 95,355 net rentable square feet across a diverse unit
mix of open one-, one-, two-, and three-bedroom residences. Walnut Trail achieved stabilization in
under 12 months — reaching 96% occupancy ahead of typical lease-up timelines — demonstrating exceptional market validation and strong underlying renter demand. With minimal near-term capital requirements and modern finishes throughout, the asset offers institutional-quality operations from day one.
Burlington sits midway along the I-5 corridor connecting Seattle and Vancouver, B.C. — a position that broadens the renter pool to commuters serving both metro economies. The local multifamily market remains supply-constrained relative to demand, with a measured construction pipeline that supports continued rent growth and long-term occupancy stability.
Property Facts
| Sale Type | Investment | Lot Size | 3.66 AC |
| No. Units | 120 | Building Size | 120,000 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 2025 |
| Building Class | B | Parking Ratio | 1.68/1,000 SF |
| Sale Type | Investment |
| No. Units | 120 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.66 AC |
| Building Size | 120,000 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 2025 |
| Parking Ratio | 1.68/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Pantry
Site Amenities
- 24 Hour Access
- Clubhouse
- Gameroom
- Pet Play Area
- Walking/Biking Trails
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 30 | - | 566 |
| 1+1 | 15 | - | 717 |
| 2+1 | 45 | - | 891 |
| 2+2 | 15 | - | 823 |
| 3+2 | 15 | - | 1,012 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | P24256 | Improvements Assessment | $1,253,067 CAD |
| Land Assessment | $1,101,155 CAD | Total Assessment | $2,354,223 CAD |
Property Taxes
Parcel Number
P24256
Land Assessment
$1,101,155 CAD
Improvements Assessment
$1,253,067 CAD
Total Assessment
$2,354,223 CAD
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Walnut Trail | 200 E McCorquedale Rd
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