Project Description

Longview, Washington

The Fairways Apartments is an excellent opportunity to own a well constructed asset in a quiet and well maintained neighborhood for long term cash flow and appreciation. Built in 1978, this garden style complex consists of 196 units spread over 24 garden buildings, which also includes a pool, playground and some private garages. Fairway’s is quietly situated along the Mint Valley Golf Course. This asset is well positioned and is currently a high occupancy yield driven asset, but has the ability to be taken to the next level. Opportunities to renovate interiors, add washer and dryers, as well as increasing income through pet rent and garages, coupled with very attractive assumable debt and the ability to place additional supplemental debt makes this asset a rare opportunity in today’s competitive market.

Transaction Details

CLOSING PRICE

$14,800,000

CAP RATE

5.5%

BUYER

Private Investor

SELLER

Goodman Real Estate

Project Gallery

Are You Looking to Buy or Sell Multifamily Product in the Pacific Northwest?

Contact us