Berkadia is pleased to present Lion’s Gate, a premier investment opportunity with value-add upside, located just 1.5 miles east of Walla Walla’s Whitman College campus. Built in 2004, this 96-unit property features a diverse mix of one-, two-, and three-bedroom floorplans, catering to a wide range of renters. Beautifully landscaped with open lawn areas, shrubbery, and coniferous trees throughout the property, Lion’s Gate sits on an expansive 5.47 acres of land. The property offers ample parking, which includes 48 detached garage spaces, 166 open parking stalls, and 10 designated handicapped spaces, offering a strong parking ratio and additional rental income for new ownership. The original unit finishes provide a prime opportunity for cosmetic renovations, unlocking the potential to greatly enhance the property’s value. In-unit amenities currently include private patios or balconies, ceiling fans, washer and dryers, and breakfast bars. Building amenities include a clubhouse with an onsite leasing office, a social room featuring a gas fireplace, a fitness center, an outdoor covered patio with BBQ, and a resident library. Situated near downtown Walla Walla, Lion’s Gate offers convenient access to a vibrant mix of lifestyle and entertainment options, including local theaters, art galleries, and music venues. Supported by key industries such as retail trade, health care, and education, Walla Walla is home to major employers like Providence St. Mary’s, Whitman College, and KeyBank Technology with the average household income projected to grow by 15.1% over the next five years. Additionally, the wine industry is a significant contributor to the economy in the region, supporting 2,000 jobs at local wineries, vineyards, and tasting rooms. Lion’s Gate offers an optimal blend across 96 total units, 26% of which are 1-bedroom, 51% two bedroom, and 25% of which are three bedrooms, catering to a wide range renter pool in the market Secured, detached parking garage (48 total spaces) with 176 additional surface lots; parking income generates nearly $50,000 annually in additional topline rental income Thoughtfully designed and professionally managed with in-unit stackable washer/dryers, covered patios, through-wall air conditioning, breakfast bars, and a plethora of community amenities; built in 2004 with units in classic condition, there is immediate repositioning potential to bring all units up to market rate with minimal operational changes; further upside potential for a full renovation strategy under new ownership Strong submarket fundamentals provide for strong renter demand; 42% renter occupied units within two miles, 6% average annual effective rent increases over the last five years with further projections of 3.6% annually through 2029; 15.1% projected average household income growth to $96,121 by 2029 Through implementation of full renovation scope, rent premiums of $175 per unit projected over in-place rents with 16% annual net operating increase in first year of completion Property offers a lower-density feel with nine mid-rise buildings spread across a single oversized parcel spanning 5.47 acres; conveniently located with neighborhood amenities located across the street including Alberstons grocery and Eastgate Lions Park, and immediate access to downtown Walla Walla, Whitman College, US Highway 12 and Walla Walla Regional Airport