206-292-1600
623 W Stevens Rd, Burlington, WA for Sale
Apartments - FOR SALE
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623 W Stevens Rd
Burlington, WA 98233


HIGHLIGHTS

  • Desirable, low-density garden-style product
  • Large average unit size of 802 SF
  • Immediate proximity to Seattle, Bellevue, and Bellingham major employers via I-5
  • Premier Skagit County location with an abundance of dining, shopping and weekend getaways
  • Strong projected rent growth in MSA with limited supply, and only one project currently under construction in Burlington

OVERVIEW

CBRE is pleased to offer the opportunity to acquire Markwood (“the Property”), a unique 214-unit brand-new construction garden-style property in the growing submarket of Burlington, WA. Markwood is one of only two institutional apartment properties in Burlington and with only one other project currently under construction, the Property is favorably positioned to see significant rent growth from the expected supply shortage over the next 5 years. Vast outdoor spaces, thoughtful amenities, and larger unit sizes often makes garden-style deals more attractive to tenants than mid-rise product, all of which Markwood encompasses. The Property offers its residents a unique lifestyle featuring expansive grounds sitting on the 10-acre Gages Lake, bringing scenic and tranquil views to residents.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

214

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Markwood Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.17 AC

LAND SF

312,325 SF

ZONING

-

APN/PARCEL ID

P127092,P127094,P127097,P23886,P23887

ASK ABOUT THIS PROPERTY

Jordan LouieCBREMore Info
206-292-1600

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Jordan LouieCBREMore Info
206-292-1600

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