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Crestwood Apartments 9896 Enterprise Ln NW 63 Unit Apartment Building $14,650,650 CAD ($232,550 CAD/Unit) 6.01% Cap Rate Silverdale, WA 98383
Investment Highlights
- High-Income Local Demographics
- In-Unit Washers and Dryers
- Wood-Burning Fireplaces
- 56 Fully Renovated Units
- Covered Carport Parking
- Private Balconies with Storage
Executive Summary
Crestwood Apartments is a 63-unit garden-style multifamily asset located in the highly constrained Silverdale submarket. This property offers a proven value-add model with 56 units already fully renovated, leaving 7 classic units for immediate revenue upside upon turnover. The asset features a favorable unit mix of 42 one-bedroom and 21 two-bedroom floorplans and has received significant recent capital expenditures, including luxury vinyl plank flooring, new cabinetry, updated appliance packages, and modern fixtures. It is attractively priced at $166,667 per door, representing a 6.01% Cap Rate. Comprehensive financials, rent rolls, and property condition reports are available in a secure Virtual Deal Room. Access to these documents is strictly controlled, so interested parties and brokers must contact the listing team directly to execute a standard Confidentiality Agreement. Upon NDA approval, a secure, view-only link will be provided for continued underwriting.
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,669,488
|
$33.56
|
| Other Income |
$204,594
|
$4.11
|
| Vacancy Loss |
$133,558
|
$2.68
|
| Effective Gross Income |
$1,740,524
|
$34.99
|
| Taxes |
$148,223
|
$2.98
|
| Operating Expenses |
$712,510
|
$14.32
|
| Total Expenses |
$860,733
|
$17.30
|
| Net Operating Income |
$879,791
|
$17.68
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,669,488 |
| Annual Per SF | $33.56 |
| Other Income (CAD) | |
|---|---|
| Annual | $204,594 |
| Annual Per SF | $4.11 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $133,558 |
| Annual Per SF | $2.68 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,740,524 |
| Annual Per SF | $34.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $148,223 |
| Annual Per SF | $2.98 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $712,510 |
| Annual Per SF | $14.32 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $860,733 |
| Annual Per SF | $17.30 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $879,791 |
| Annual Per SF | $17.68 |
Property Facts
| Price | $14,650,650 CAD | Building Class | C |
| Price Per Unit | $232,550 CAD | Lot Size | 3.72 AC |
| Sale Type | Investment | Building Size | 49,749 SF |
| Cap Rate | 6.01% | Average Occupancy | 94% |
| No. Units | 63 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1988 |
| Property Subtype | Apartment | Parking Ratio | 3.06/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RC - 137 - 50+ Units | ||
| Price | $14,650,650 CAD |
| Price Per Unit | $232,550 CAD |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| No. Units | 63 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.72 AC |
| Building Size | 49,749 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built | 1988 |
| Parking Ratio | 3.06/1,000 SF |
| Zoning | RC - 137 - 50+ Units |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Recycling
- Smoke Free
- Online Services
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 42 | - | 723 |
| 2+1 | 21 | - | 923 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 162501-4-078-2007 | Total Assessment | $15,683,263 CAD |
| Land Assessment | $2,369,729 CAD | Annual Taxes | $148,223 CAD ($2.98 CAD/SF) |
| Improvements Assessment | $13,313,534 CAD | Tax Year | 2026 |
Property Taxes
Parcel Number
162501-4-078-2007
Land Assessment
$2,369,729 CAD
Improvements Assessment
$13,313,534 CAD
Total Assessment
$15,683,263 CAD
Annual Taxes
$148,223 CAD ($2.98 CAD/SF)
Tax Year
2026
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Crestwood Apartments | 9896 Enterprise Ln NW
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