1714 Evergreen Park Ct SW - Apartments FOR SALE


Olympia, WA 98502
$4,200,000 USD
206-505-9438
1714 Evergreen Park Ct SW, Olympia, WA for Sale
$4,200,000 USD
Apartments - FOR SALE
1/26
null | 5.61% Cap Rate

1714 Evergreen Park Ct SW
Olympia, WA 98502


HIGHLIGHTS

  • Average Unit Size: 800 SF
  • Quiet, Central Olympia Location
  • Carport Parking
  • Large Private Decks
  • Cathedral Ceilings

OVERVIEW

The Timbers West is a 22-unit garden-style multifamily community located in Olympia, Washington. The property consists of 4 separate buildings all built in 1972. The apartment unit mix is four (4) 1 bed/1 bath units measuring 650 sf, four (4) 1 bedroom/1 bath townhome style units measuring 750 sf, thirteen (13) 2 bed/1 bath units measuring 850 sf, and one (1) 2 bedroom/1.5 bath townhome style unit measuring 850 sf. The apartment interiors and property exterior has been diligently maintained by the current ownership. The apartment homes are spacious in size, including large private decks, dishwashers, and some cathedral ceilings or 2 story layouts. The community provides ample private parking including 16 covered parking stalls. This offering presents a buyer an exciting value add opportunity to acquire a stable asset with significant rental income upside. Timbers West is located on a quiet, park like setting in a premier Olympia location. Situated on a green belt that directly faces Capitol Lake with immediate access to Interstate 5. It is just minutes from the state Capitol and the Capitol Mall which is the major retail hub in the city of Olympia. According to a November 2024 article by Turbo Tenant, Olympia ranks in the top 3 in Washington for most leads per rental unit listing at 38.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$120 USD /SF

# OF UNITS

22

PRICE/UNIT

$190,909

CAP RATE

5.61%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Timbers West

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,333 SF

ZONING

PUD, Thurston

APN/PARCEL ID

46830002600

ASK ABOUT THIS PROPERTY

River VoorheesWestlake Associates, Inc.More Info
206-505-9438

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River VoorheesWestlake Associates, Inc.More Info
206-505-9438

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.