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Kneeland Park Apartments 215 Turner Ave 21 Unit Apartment Building $4,005,105 CAD ($190,719 CAD/Unit) Shelton, WA 98584
Investment Highlights
- $250,000 in capital improvements over the past two years. The next owner inherits a maintained, de-risked asset.
- Zero new units in pipeline. Shelton's multifamily development pipeline is empty.
- The LURA restriction lifts in approximately 8 years, at which point all 21 units become eligible for unrestricted market-rate rents.
- 21-units which consists of large 2, 3, and 4 bedroom units - the exact product type most undersupplied in Shelton's workforce housing market.
Executive Summary
1997-Vintage Apartment Community in Supply-Constrained Shelton
Property Facts
| Price | $4,005,105 CAD | Apartment Style | Garden |
| Price Per Unit | $190,719 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.88 AC |
| No. Units | 21 | Building Size | 24,125 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1997 |
| Price | $4,005,105 CAD |
| Price Per Unit | $190,719 CAD |
| Sale Type | Investment |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 24,125 SF |
| No. Stories | 3 |
| Year Built | 1997 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 932 |
| 3+2 | 13 | - | 1,165 |
| 4+2 | 4 | - | 1,313 |
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,948,170 CAD | |
| Land Assessment | $147,404 CAD | Total Assessment | $3,095,574 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$147,404 CAD
Improvements Assessment
$2,948,170 CAD
Total Assessment
$3,095,574 CAD
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Kneeland Park Apartments | 215 Turner Ave
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