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403 W University Way 72 Room Hotel Ellensburg, WA 98926 $3,101,507 CAD ($43,076 CAD/Room)
Investment Highlights
- Approved for 78 unit multi-family conversion
- Priced well below appraised value
- Interior Demo already started
Executive Summary
Embark on an exciting multi-family conversion project with this 35,240 SF building, strategically located mere blocks away from Central Washington University at 403 W University Way, Ellensburg, WA. Approved by the City of Ellensburg, this property offers the unique opportunity to transform it into a multi-family with a total of 78 units. With partial demolition already underway, this versatile building, built in 1967 and zoned CH, is ready to be customized for a multi-family use. Investors looking for a prime opportunity to create a modern living space in a sought-after location will find this project to be a promising prospect.
Property Facts
| Price | $3,101,507 CAD | Building Size | 35,240 SF |
| Price Per Room | $43,076 CAD | No. Rooms | 72 |
| Sale Type | Investment | No. Stories | 2 |
| Sale Condition | Redevelopment Project | Year Built | 1967 |
| Property Type | Hospitality | Parking Ratio | 2.5/1,000 SF |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 2.07 AC | ||
| Zoning | C-HWY - Ellensburg, WA | ||
| Price | $3,101,507 CAD |
| Price Per Room | $43,076 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.07 AC |
| Building Size | 35,240 SF |
| No. Rooms | 72 |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 2.5/1,000 SF |
| Corridor | Interior |
| Opportunity Zone |
Yes |
| Zoning | C-HWY - Ellensburg, WA |
Amenities
- Pool
- Outdoor Pool
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 72 | $93.05 CAD | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 174536 | Improvements Assessment | $2,986,002 CAD |
| Land Assessment | $966,234 CAD | Total Assessment | $3,952,236 CAD |
Property Taxes
Parcel Number
174536
Land Assessment
$966,234 CAD
Improvements Assessment
$2,986,002 CAD
Total Assessment
$3,952,236 CAD
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403 W University Way
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