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Cowiche Creek Townhouses 5101 W Powerhouse Rd 66 Unit Apartment Building $25,580,968 CAD ($387,590 CAD/Unit) Yakima, WA 98908
Investment Highlights
- Brand-New 2023 Construction: Turnkey asset with no deferred maintenance and modern building systems throughout.
- Large Floor Plans: Spacious (30)2- and (36)3-bedroom homes averaging 1,267 SF with 2.5 bathrooms in every unit.
- Mark-to-Market Rent Upside: In-place rents average $1,832 vs. market rents of $1,905, with embedded growth as below-market leases roll and concessions
- All-Townhome Community: A rare 100% townhome configuration, with two-story layouts, private entries, and no shared neighbors above or below.
- Attached Garage for Every Unit: 66 private attached garages plus 132 surface stalls — three parking spaces per unit, largely unmatched in the Yakima m
- Strong Yakima Fundamentals: The 12th largest city in Washington and the largest in Yakima County, anchored by a deep agricultural economy with ~122,00
Executive Summary
Northmarq is delighted to present Cowiche Creek Townhomes, a newly constructed, 2023-vintage asset located in Yakima, WA. This 66-unit property features a mix of 30 two-bedroom and 36 three-bedroom townhome units, each with 2.5 baths. With an average unit size of 1,267 square feet, each unit features in-unit laundry, elegant quartz countertops, LVP flooring and modern HVAC systems.
The property currently achieves an average rent of $1,832 per unit with a limited history of concessions needed to entire new tenants. Residents enjoy the serenity of a quiet neighborhood while being just 4 miles north from downtown Yakima. Additionally, the property offers proximity to Mount Rainier National Park, making it an ideal location for outdoor enthusiasts seeking year-round recreational activities.
This property represents an excellent opportunity for investors to acquire a recently constructed yet seasoned asset with large, modernized units in a highly desirable secondary market. With its central location, significant rent growth potential, and high-quality finishes, Cowiche Creek Townhomes is primed for long-term success.
The property currently achieves an average rent of $1,832 per unit with a limited history of concessions needed to entire new tenants. Residents enjoy the serenity of a quiet neighborhood while being just 4 miles north from downtown Yakima. Additionally, the property offers proximity to Mount Rainier National Park, making it an ideal location for outdoor enthusiasts seeking year-round recreational activities.
This property represents an excellent opportunity for investors to acquire a recently constructed yet seasoned asset with large, modernized units in a highly desirable secondary market. With its central location, significant rent growth potential, and high-quality finishes, Cowiche Creek Townhomes is primed for long-term success.
Property Facts
| Price | $25,580,968 CAD | Building Class | B |
| Price Per Unit | $387,590 CAD | Lot Size | 11.05 AC |
| Sale Type | Investment | Building Size | 83,628 SF |
| No. Units | 66 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | Parking Ratio | 2.37/1,000 SF |
| Apartment Style | Townhome | ||
| Zoning | R3 | ||
| Price | $25,580,968 CAD |
| Price Per Unit | $387,590 CAD |
| Sale Type | Investment |
| No. Units | 66 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 11.05 AC |
| Building Size | 83,628 SF |
| No. Stories | 2 |
| Year Built | 2023 |
| Parking Ratio | 2.37/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Property Manager on Site
- Smoke Free
- Maintenance on site
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 30 | - | 1,266 |
| 3+2.5 | 36 | - | 1,268 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $31,454,581 CAD | |
| Land Assessment | $1,441,988 CAD | Total Assessment | $32,896,569 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$1,441,988 CAD
Improvements Assessment
$31,454,581 CAD
Total Assessment
$32,896,569 CAD
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Cowiche Creek Townhouses | 5101 W Powerhouse Rd
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