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Lilly Apartments 510 Lilly Rd SE 20 Unité Immeuble d’appartements 5 045 542 $ CAD (252 277 $ CAD/Unité) 5,45% Taux de capitalisation Olympia, WA 98501

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Certaines informations ont été traduites automatiquement.

Faits saillants de l'investissement

Ideal Unit Mix
Consistent Mark-to-Market Upside
Proximity to a Major Economic Hub and Employment Centers

Attractive Seller Financing
Low Rent Burden with Robust Submarket Rent Growth
High-Income Surrounding Demographics

Résumé de l'annonce

Lilly Apartments offers investors the rare opportunity to acquire a proven value-add asset with immediate yield and clear upside in one of Western Washington’s most durable rental markets. The 20-unit property has already seen substantial interior renovation progress, with 16 units upgraded, two partially completed, and only two classic units remaining—allowing new ownership to step into a largely de-risked renovation story with meaningful runway still ahead.
Situated in a highly accessible infill location near Providence St. Peter Hospital, just one mile from I-5 and a short drive to Joint Base Lewis-McChord, the property is ideally positioned to capture sustained renter demand driven by major employment anchors and regional connectivity. With attractive seller financing that drives 9.5%+ day-one cash-on-cash returns, and the ability to continue pushing rents through completion of the renovation plan, Lilly Apartments stands out as a compelling opportunity to secure both strong current income and future appreciation.
• Lilly Apartments features a total of 20 units across two buildings, with a great unit mix of both one- and two-bedroom floorplans. Ownership has fully renovated 16 units, partially renovated two units, and left the remaining two units in classic condition ready for renovation under the already proven scope.
• There is an opportunity to take advantage of investor-friendly seller financing that drives a 9.5%+ cash-on-cash return from day one.
• Recent leases reflect an average increase of approximately 2.15% over prior rents, demonstrating clear and ongoing rent growth potential.
• Annual in-place rents at Lilly Apartments account for only 14% of average household income for the area, reflecting strong affordability and meaningful capacity for future rent increases.
• Asking rents in the submarket have climbed 20.7% since 2021, affirming the strength of the local rental environment.

Faits sur la propriété

Prix	5 045 542 $ CAD	Classe d’immeuble	C
Prix par unité	252 277 $ CAD	Taille du lot	0,50 AC
Type de vente	Investissement	Taille du bâtiment	9 900 pi²
Taux de capitalisation	5,45%	Occupation moyenne	90%
Nombre d’unités	20	Nombre d’étages	2
Type de propriété	Immeuble residentiel	Année de construction	1969
Sous-type de propriété	Appartement	Ratio de stationnement	3,23/1 000 pi²
Style d’appartement	De faible hauteur
Zonage	GC

Prix	5 045 542 $ CAD
Prix par unité	252 277 $ CAD
Type de vente	Investissement
Taux de capitalisation	5,45%
Nombre d’unités	20
Type de propriété	Immeuble residentiel
Sous-type de propriété	Appartement
Style d’appartement	De faible hauteur
Classe d’immeuble	C
Taille du lot	0,50 AC
Taille du bâtiment	9 900 pi²
Occupation moyenne	90%
Nombre d’étages	2
Année de construction	1969
Ratio de stationnement	3,23/1 000 pi²
Zonage	GC