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Cambridge Lane 808 I St NE 24 Unit Apartment Building $7,575,445 CAD ($315,644 CAD/Unit) 5.42% Cap Rate Auburn, WA 98002
INVESTMENT HIGHLIGHTS
- 16 of 24 Unit Renovated Within Last 3 Years
- 43 Off-Street Parking Stalls
- New Roofs on Half of Property in 2025
EXECUTIVE SUMMARY
Marcus & Millichap are pleased to present Cambridge Lane Apartments, a well-maintained 24-unit single story fourplex community constructed in 1968, located at 808-908 I Street NE, Auburn, WA 98002. The property is in excellent condition and has recently received interior renovations to sixteen of the units, as well as exterior improvements that include new roofs on half of the buildings. However, there is still significant upside in the asset for a new owner who can take advantage of raising the rents an average of $200/unit, to reach market rents in the area, as well as increasing the monthly utility bill-back to increase the current EGI by an estimated 14%. This well positioned property presents an excellent opportunity for investors seeking a high-quality asset with current upside and long-term potential.
Available with additional 16-unit property, Pinehurst Manor, located on same block at 733 10th Street NE, Auburn, WA.
See Listing Agents for additional details.
Available with additional 16-unit property, Pinehurst Manor, located on same block at 733 10th Street NE, Auburn, WA.
See Listing Agents for additional details.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $7,575,445 CAD | Apartment Style | Garden |
| Price Per Unit | $315,644 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.73 AC |
| Cap Rate | 5.42% | Building Size | 17,862 SF |
| No. Units | 24 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 2.41/1,000 SF |
| Zoning | R20 | ||
| Price | $7,575,445 CAD |
| Price Per Unit | $315,644 CAD |
| Sale Type | Investment |
| Cap Rate | 5.42% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.73 AC |
| Building Size | 17,862 SF |
| No. Stories | 1 |
| Year Built | 1968 |
| Parking Ratio | 2.41/1,000 SF |
| Zoning | R20 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $2,154 CAD | 600 |
| 2+1 | 12 | $2,571 CAD | 782 |
| 3+2 | 4 | $2,530 CAD | 882 |
1 1
Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 333990-0175 | Total Assessment | $2,869,992 CAD (2024) |
| Land Assessment | $440,684 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,429,307 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
333990-0175
Land Assessment
$440,684 CAD (2024)
Improvements Assessment
$2,429,307 CAD (2024)
Total Assessment
$2,869,992 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Cambridge Lane | 808 I St NE
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