7714 196th St SW - Apartments FOR SALE


Edmonds, WA 98026
$11,000,000 USD
206-491-2008
7714 196th St SW, Edmonds, WA for Sale
$11,000,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

7714 196th St SW
Edmonds, WA 98026


HIGHLIGHTS

  • Recently received significant upgrades, including a new roofing TPO in 2023, new siding as needed, and nearly all units have been modernized
  • Prime location with exceptional connectivity to Seattle, Bellevue, Everett, and beyond via I-5, I-405, and Light Rail
  • The area is home to major employers such as Swedish Edmonds Hospital, Edmonds School District, and Boeing's Everett Production Facility
  • The submarket serves a diverse renter base with a mix of affordable and high-end communities with rent growth outpacing the Seattle metro average

OVERVIEW

Introducing the OLYMPIC WEST APARTMENTS, a prime value-add opportunity situated at 7714 196th St SW, Edmonds, WA 98026. Boasting 37 units plus one commercial office in a single 3-story building, this well-maintained property presents a rare chance for investors. Recently renovated in 2023 with upgrades such as TPO roofing and improved siding enhancing both aesthetics and functionality. The units feature modern kitchens and appliances, appealing to potential tenants. With an average unit size of 921 SF across a total of 33,650 NRSF on a vast 1.36-acre lot, Olympic West offers a spacious and lucrative investment opportunity. Strategically located in Edmonds with easy access to major job hubs like Seattle, Bellevue, and Everett via I-5 and I-405, this property stands out in a thriving submarket. With the Lynnwood Link Extension set to boost connectivity, the potential for increased rental income in this growing area makes Olympic West Apartments a promising venture.

FOR SALE DETAILS

PRICE

$11,000,000 USD

PRICE/SF

$314 USD /SF

# OF UNITS

37

PRICE/UNIT

$297,297

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Olympic West Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1968

PARKING SPACES

64

LAND DETAILS

LAND ACRES

1.36 AC

LAND SF

59,242 SF

ZONING

RM15,Edmonds

APN/PARCEL ID

270419-001-007-00

ASK ABOUT THIS PROPERTY

Chad BlenzBerkadiaMore Info
206-491-2008

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Chad BlenzBerkadiaMore Info
206-491-2008

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