Washington State Apartment Buildings for Sale
There is a strong market for Washington State apartment buildings. With current interest rates in the 4% range, multi-family investors have great buying power. While low interest rates are great news for buyers, they are better news for sellers as the market cap rates are down, resulting in higher asking and sales prices.
Karcher Road Development Land
12269, Karcher Road, Nampa, ID  83651- Available SQ. FT. 1856092
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 1856092
- Year Built:
- CBA #: 668527
Center Tool Building
9440, Delridge Way, Seattle, WA  98106- Available SQ. FT.
- Building SQ. FT. 2388
- Cap Rate:
- LOT SQ. FT. 7080
- Year Built: 1926
- CBA #: 668499
Bay Bowl Development Site
2313, Wheaton Way, Bremerton, WA  98310- Available SQ. FT.
- Building SQ. FT. 130339
- Cap Rate:
- LOT SQ. FT. 122030
- Year Built: 2024
- CBA #: 668451
Logan Street & Marshall Avenue
0, Logan Street & Marshall Ave, Caldwell, ID  83605- Available SQ. FT. 239580
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 432986
- Year Built:
- CBA #: 668414
Karina Apartments
2213, 59th St, Seattle, WA  98107- Available SQ. FT. 5000
- Building SQ. FT. 5411
- Cap Rate:
- LOT SQ. FT. 4792
- Year Built: 1967
- CBA #: 668196
119 S Howard St
119, Howard St, Spokane, WA  99201- Available SQ. FT.
- Building SQ. FT. 51106
- Cap Rate:
- LOT SQ. FT. 16814
- Year Built: 1910
- CBA #: 668033
Bank of America - 1st Avenue S
2764, 1st Ave, Seattle, WA  98134- Available SQ. FT. 1700
- Building SQ. FT. 15360
- Cap Rate:
- LOT SQ. FT. 27007
- Year Built: 1946
- CBA #: 667930
914 W Emerson Street
914, Emerson St, Seattle, WA  98119- Available SQ. FT. 4140
- Building SQ. FT. 10350
- Cap Rate: 4.30
- LOT SQ. FT. 8800
- Year Built: 2020
- CBA #: 667588
912 W Emerson St
912, Emerson St, Seattle, WA  98119- Available SQ. FT. 2070
- Building SQ. FT. 2070
- Cap Rate: 4.54
- LOT SQ. FT. 1525
- Year Built: 1926
- CBA #: 667578
601 Highland Ave
601, Highland Ave, Bremerton, WA  98337- Available SQ. FT. 45738
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 45738
- Year Built:
- CBA #: 667572
Arctic Mini Mart
19246, 15th Ave, Seattle, WA  98155- Available SQ. FT.
- Building SQ. FT. 5796
- Cap Rate: 3.85
- LOT SQ. FT. 16988
- Year Built: 1930
- CBA #: 667543
204 Building
204, 348th Street, Federal Way, WA  98003- Available SQ. FT. 749
- Building SQ. FT. 3273
- Cap Rate:
- LOT SQ. FT. 18295
- Year Built: 1994
- CBA #: 667358
Nasty Jack's Antique Building
103, Morris, La Conner, WA  98257- Available SQ. FT. 5508
- Building SQ. FT. 5508
- Cap Rate:
- LOT SQ. FT. 9801
- Year Built: 1900
- CBA #: 667313
19518 International Blvd
19518, International Blvd, SeaTac, WA  98188- Available SQ. FT. 43144
- Building SQ. FT. 43144
- Cap Rate:
- LOT SQ. FT. 39041
- Year Built:
- CBA #: 666918
9418 35th Avenue NE
9418, 35th Ave, Seattle, WA  98115- Available SQ. FT.
- Building SQ. FT. 1680
- Cap Rate:
- LOT SQ. FT. 11761
- Year Built: 1967
- CBA #: 666894
418 On Central
418, Central Ave, Kent, WA  98032- Available SQ. FT. 24240
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 59497
- Year Built: 1955
- CBA #: 666498
Bayberry Apartments
6700, 24th Ave, Seattle, WA  98117- Available SQ. FT.
- Building SQ. FT. 7800
- Cap Rate:
- LOT SQ. FT. 7841
- Year Built: 1919
- CBA #: 666485
Bob and Marcia Almquist Place
501, Rainier Ave, Seattle, WA  98144- Available SQ. FT. 1197
- Building SQ. FT. 62548
- Cap Rate:
- LOT SQ. FT. 15076
- Year Built: 2020
- CBA #: 666405
2611 Hoyt Avenue
2611, Hoyt Ave, Everett, WA  98201- Available SQ. FT. 4356
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 4356
- Year Built:
- CBA #: 666393
Rio Del Sol Residential Development Project
210, RD 34, Pasco, WA  99301- Available SQ. FT.
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 251973
- Year Built: 0
- CBA #: 666301
Halltree Apartments
22921, 30th Avenue, Des Moines, WA  98198- Available SQ. FT.
- Building SQ. FT. 37732
- Cap Rate:
- LOT SQ. FT. 70132
- Year Built: 1988
- CBA #: 666252
5605 - 5609 Rainier Avenue S
5605, Rainier Ave, Seattle, WA  98118- Available SQ. FT.
- Building SQ. FT. 9312
- Cap Rate: 4.57
- LOT SQ. FT. 3049
- Year Built: 1915
- CBA #: 666128
Entiat Property
14421, Shamel St, Entiat, WA  98822- Available SQ. FT. 34706
- Building SQ. FT. 34706
- Cap Rate:
- LOT SQ. FT. 413384
- Year Built: 1981
- CBA #: 665984
1727 E Hartson Ave
1727, Hartson Ave, Spokane, WA  99202- Available SQ. FT. 54014
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 54145
- Year Built:
- CBA #: 665922
4015 E Rowan Avenue
4015, Rowan Ave, Spokane, WA  99217- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 15099
- Year Built:
- CBA #: 665832
Kitsap Way Commercial
4512, Kitsap Way, Bremerton, WA  98312- Available SQ. FT. 41818
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 41818
- Year Built:
- CBA #: 665187
3002 N Crestline Street
3002, Crestline St, Spokane, WA  99207- Available SQ. FT.
- Building SQ. FT. 3343
- Cap Rate:
- LOT SQ. FT. 7013
- Year Built: 2022
- CBA #: 665130
221 Puyallup Avenue
221, Puyallup Ave, Tacoma, WA  98421- Available SQ. FT. 11326
- Building SQ. FT. 1920
- Cap Rate:
- LOT SQ. FT. 11326
- Year Built: 1910
- CBA #: 665096
1113 W Oak Tree Dr
1113, Oak Tree Dr, Kuna, ID  83634- Available SQ. FT. 372002
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 420354
- Year Built:
- CBA #: 664707
2000 E Sunset Dr
2000, Sunset Dr, Bellingham, WA  98226- Available SQ. FT.
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 20038
- Year Built: 1955
- CBA #: 664398
2127 Main Street
2127, Main St, Ferndale, WA  98248- Available SQ. FT. 224770
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 199509
- Year Built:
- CBA #: 664231
700 52nd Street SE
700, 52nd St, Everett, WA  98203- Available SQ. FT.
- Building SQ. FT. 3040
- Cap Rate:
- LOT SQ. FT. 281401
- Year Built: 1946
- CBA #: 664197
Nexus
1200, Howell St, Seattle, WA  98101- Available SQ. FT. 573
- Building SQ. FT. 301119
- Cap Rate:
- LOT SQ. FT. 14160
- Year Built: 2020
- CBA #: 663823
Capitol Hilltop
555, 15th Ave, Seattle, WA  98112- Available SQ. FT. 1925
- Building SQ. FT. 50000
- Cap Rate:
- LOT SQ. FT. 13731
- Year Built: 2021
- CBA #: 663111
Multi-Family Development Site
780, Yakima Valley Hwy, Sunnyside, WA  98944- Available SQ. FT. 230432
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 611408
- Year Built:
- CBA #: 663081
Multi-Family Development Site
780, Yakima Valley Hwy, Sunnyside, WA  98944- Available SQ. FT. 171626
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 611408
- Year Built:
- CBA #: 663080
Edgewick Inn
14600, 468th Avenue, North Bend, WA  98045- Available SQ. FT. 191664
- Building SQ. FT. 18488
- Cap Rate:
- LOT SQ. FT. 191665
- Year Built: 1987
- CBA #: 662900
Woodinville MF Development Site
12461, Woodinville Dr, Woodinville, WA  98072- Available SQ. FT. 49250
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 49205
- Year Built:
- CBA #: 662152
1940 W Overland Rd
1940, Overland Rd, Meridian, ID  83642- Available SQ. FT. 392040
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 424318
- Year Built:
- CBA #: 662084
Saint Anthony Multifamily Land
0, 8th Street South, , ID  83445- Available SQ. FT. 159430
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 1066349
- Year Built:
- CBA #: 661985
8800 W Hallett Road
8806, Hallett Rd, Spokane, WA  99004- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 101059
- Year Built:
- CBA #: 661672
Claremont North Development Sit
3416, Claremont Ave, Seattle, WA  98144- Available SQ. FT. 9000
- Building SQ. FT. 15093
- Cap Rate:
- LOT SQ. FT. 8989
- Year Built: 1918
- CBA #: 661646
305 College Avenue
305, College Ave, Cheney, WA  99004- Available SQ. FT.
- Building SQ. FT. 4372
- Cap Rate:
- LOT SQ. FT. 10019
- Year Built: 1991
- CBA #: 661068
Aurora Mixed Use Development
8601, Aurora Ave, Seattle, WA  98103- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 17357
- Year Built:
- CBA #: 660912
1925 26th Street & 2524 Lombard Avenue
1925, 26th St, Everett, WA  98201- Available SQ. FT.
- Building SQ. FT. 14060
- Cap Rate:
- LOT SQ. FT. 17594
- Year Built: 1950
- CBA #: 660876
1316 Harrison Avenue
1316, Harrison Ave, Centralia, WA  98531- Available SQ. FT.
- Building SQ. FT. 6266
- Cap Rate:
- LOT SQ. FT. 113692
- Year Built: 1955
- CBA #: 660066
2315 Westhaven Dr
2315, Westhaven Dr, Westport, WA  98595- Available SQ. FT. 6516
- Building SQ. FT. 6516
- Cap Rate:
- LOT SQ. FT. 4792
- Year Built: 1960
- CBA #: 659105
Steel Lake Plaza Development
29020, Military Rd, Federal Way, WA  98003- Available SQ. FT. 73181
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 73181
- Year Built:
- CBA #: 659091
5717 186th Place SW
5717, 186 Pl, Lynnwood, WA  98037- Available SQ. FT. 64904
- Building SQ. FT. 886
- Cap Rate:
- LOT SQ. FT. 64904
- Year Built: 1955
- CBA #: 659021
University District Vacant Land
4301, 11 Ave, Seattle, WA  98105- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 4138
- Year Built:
- CBA #: 658861
508 W Main Street
508, Main St, Deer Park, WA  99006- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 307098
- Year Built:
- CBA #: 658787
4th Avenue Land
0, 4th Ave, Poulsbo, WA  98370- Available SQ. FT.
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 206039
- Year Built:
- CBA #: 658725
10801 NE Covington Rd
10801, Covington Rd, Vancouver, WA  98662- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 91476
- Year Built:
- CBA #: 658619
2518 W Bannock Street
2518, Bannock St, Boise, ID  83702- Available SQ. FT. 3492
- Building SQ. FT. 3492
- Cap Rate:
- LOT SQ. FT. 6098
- Year Built: 1939
- CBA #: 657364
4912 200th Street E
4912, 200 St, Spanaway, WA  98387- Available SQ. FT.
- Building SQ. FT. 1400
- Cap Rate:
- LOT SQ. FT. 219107
- Year Built: 1975
- CBA #: 656935
Bleu Apartments
419, 21 Ave, Seattle, WA  98122- Available SQ. FT. 4392
- Building SQ. FT. 4392
- Cap Rate:
- LOT SQ. FT. 7144
- Year Built: 1962
- CBA #: 656906
Ravenna Townhomes
4745, Ravenna Ave, Seattle, WA  98105- Available SQ. FT.
- Building SQ. FT. 5543
- Cap Rate:
- LOT SQ. FT. 6098
- Year Built: 1976
- CBA #: 656762
1423 Pacific
1411, Pacific Ave, Tacoma, WA  98402- Available SQ. FT. 0
- Building SQ. FT. 110443
- Cap Rate:
- LOT SQ. FT. 21471
- Year Built: 1907
- CBA #: 656737
8086 Birch Bay Drive
8086, Birch Bay Dr, Blaine, WA  98230- Available SQ. FT. 104544
- Building SQ. FT. 2337
- Cap Rate:
- LOT SQ. FT. 104544
- Year Built: 1993
- CBA #: 656425
Snohomish Terrace
1300, Avenue D, Snohomish, WA  98290- Available SQ. FT. 374616
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 409464
- Year Built:
- CBA #: 655915
4267 Woodland Park Ave N
4267, Woodland Park Ave, Seattle, WA  98103- Available SQ. FT.
- Building SQ. FT. 5000
- Cap Rate:
- LOT SQ. FT. 7013
- Year Built: 1966
- CBA #: 655902
185th & 8th Development Site
18510, 8th Ave, Shoreline, WA  98155- Available SQ. FT.
- Building SQ. FT. 4990
- Cap Rate:
- LOT SQ. FT. 35284
- Year Built: 1948
- CBA #: 655694
Elliott Pointe
2226, Elliot Ave, Seattle, WA  98121- Available SQ. FT. 1411
- Building SQ. FT. 97517
- Cap Rate:
- LOT SQ. FT. 17860
- Year Built: 1994
- CBA #: 655331
Union District 93
221, Broadway Ave, Meridian, ID  83642- Available SQ. FT. 26817
- Building SQ. FT. 653575
- Cap Rate:
- LOT SQ. FT. 176854
- Year Built: 2022
- CBA #: 655234
Oroville Residential Development Site
26, Lake Loop Rd, Oroville, WA  98844- Available SQ. FT. 658627
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 658627
- Year Built:
- CBA #: 654833
Elliott Mercer
652, Elliott Ave, Seattle, WA  98119- Available SQ. FT. 0
- Building SQ. FT. 6000
- Cap Rate: 3.09
- LOT SQ. FT. 9148
- Year Built: 1944
- CBA #: 654477
4149 Northwest Drive
4149, Dr, Bellingham, WA  98226- Available SQ. FT. 71003
- Building SQ. FT. 1370
- Cap Rate: 1.22
- LOT SQ. FT. 71003
- Year Built: 1952
- CBA #: 654420
Lots 079-082 Old Frontier Road
10275, Frontier Pl, Silverdale, WA  98383- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 174373
- Year Built:
- CBA #: 653945
5405 S Hayford Rd
5405, Hayford Rd, Spokane, WA  99224- Available SQ. FT.
- Building SQ. FT. 2220
- Cap Rate:
- LOT SQ. FT. 437604
- Year Built: 1977
- CBA #: 653883
85 S Millview Ln
85, Millview Ln, Coeur D Alene, ID  83814- Available SQ. FT. 12632400
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 12632400
- Year Built:
- CBA #: 653735
Wiggins Rd SE & Morse Merryman Rd
0, Wiggins Rd, Olympia, WA  98501- Available SQ. FT. 812830
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 812830
- Year Built:
- CBA #: 653696
Wiggins Road SE - 40 Acres
0, Wiggins Rd, Olympia, WA  98501- Available SQ. FT. 1742400
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 1742400
- Year Built:
- CBA #: 653694
Lot 022 Old Frontier Rd.
10143, Old Frontier, Silverdale, WA  98383- Available SQ. FT. 0
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 187308
- Year Built:
- CBA #: 653589
Lot 001 Old Frontier Rd.
0, Old Frontier Rd, Silverdale, WA  98383- Available SQ. FT.
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 264409
- Year Built:
- CBA #: 653588
43 & 45 Broadway Apartments
45, Broadway, Tacoma, WA  98402- Available SQ. FT.
- Building SQ. FT. 7786
- Cap Rate:
- LOT SQ. FT. 17990
- Year Built: 1938
- CBA #: 653528
5408 Steilacoom Blvd SW
5408, Steilacoom Blvd, Lakewood, WA  98499- Available SQ. FT.
- Building SQ. FT. 2976
- Cap Rate:
- LOT SQ. FT. 12197
- Year Built: 1927
- CBA #: 653474
Aegis Living Bellevue Lake Hills
14641, 16th St, Bellevue, WA  98007- Available SQ. FT. 1528956000
- Building SQ. FT. 31912
- Cap Rate:
- LOT SQ. FT. 35100
- Year Built: 0
- CBA #: 653200
Sumner 16 Units
0, Cherry Ave, Sumner, WA  98390- Available SQ. FT. 10890
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 10803
- Year Built:
- CBA #: 653163
Twelve at U District
4535, 12th Ave, Seattle, WA  98105- Available SQ. FT. 1349
- Building SQ. FT. 411067
- Cap Rate:
- LOT SQ. FT. 54886
- Year Built: 2014
- CBA #: 653147
1932 SE Salmonberry Rd
1932, Salmonberry Rd, Port Orchard, WA  98366- Available SQ. FT.
- Building SQ. FT. 976
- Cap Rate:
- LOT SQ. FT. 523062
- Year Built: 1948
- CBA #: 652913
102 E 25th Street Parking Lot
102, 25th St, Tacoma, WA  98421- Available SQ. FT. 10890
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 10691
- Year Built:
- CBA #: 652605
518 E 32nd Street Fourplex
518, 32 St, Tacoma, WA  98404- Available SQ. FT.
- Building SQ. FT. 3374
- Cap Rate:
- LOT SQ. FT. 6490
- Year Built: 1992
- CBA #: 651222
Federal Way Development Site
0, 6th Ave, Federal Way, WA  98023- Available SQ. FT. 140699
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 136778
- Year Built:
- CBA #: 651103
Former Goodwill Building
2356, Tacoma Ave, Tacoma, WA  98402- Available SQ. FT.
- Building SQ. FT. 58300
- Cap Rate:
- LOT SQ. FT. 26000
- Year Built: 1930
- CBA #: 649079
Shoreline North/185th St Station: MUR-45
500, 180th St, Shoreline, WA  98155- Available SQ. FT. 82086
- Building SQ. FT. 2180
- Cap Rate:
- LOT SQ. FT. 82086
- Year Built: 1956
- CBA #: 648617
Vela Apartments
140, Lake St, Kirkland, WA  98033- Available SQ. FT. 5100
- Building SQ. FT. 261288
- Cap Rate:
- LOT SQ. FT. 56496
- Year Built: 2023
- CBA #: 648080
Zillah Lake Development
8004, Barbee Ct, Zillah, WA  98953- Available SQ. FT. 4791600
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 8528612
- Year Built:
- CBA #: 647565
8.78 Acres Wheelwright
0, NKA, Allyn, WA  98524- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 382457
- Year Built:
- CBA #: 647540
Skyway Land
6950, 123rd St, Seattle, WA  98178- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 87120
- Year Built:
- CBA #: 645217
21000-21010 International Blvd
21010, International Blvd, SeaTac, WA  98198- Available SQ. FT.
- Building SQ. FT. 4230
- Cap Rate:
- LOT SQ. FT. 136810
- Year Built: 1999
- CBA #: 644442
Beacon Hill Apartments
1815, 13th Ave, Seattle, WA  98144- Available SQ. FT.
- Building SQ. FT. 15426
- Cap Rate: 5.31
- LOT SQ. FT. 7200
- Year Built: 1911
- CBA #: 643966
Riverview on Riverside
1404, Riverside Ave, Spokane, WA  99201- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 20473
- Year Built:
- CBA #: 642763
Phillips Road Multi-Family Development
0, Phillips Rd, Port Orchard, WA  98366- Available SQ. FT. 798890
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 1592960
- Year Built:
- CBA #: 642174
2500 Elliott
2500, Elliott Ave, Seattle, WA  98121- Available SQ. FT.
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 14375
- Year Built: 0
- CBA #: 641604
Fremont Redevelopment Site
418, 36th St, Seattle, WA  98103- Available SQ. FT.
- Building SQ. FT. 5976
- Cap Rate:
- LOT SQ. FT. 4670
- Year Built: 1915
- CBA #: 640470
Rainier Avenue S - Land
8422, Rainier Ave, Seattle, WA  98118- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 44996
- Year Built:
- CBA #: 637806
3101 W Jameson
3101, Jameson St, Seattle, WA  98199- Available SQ. FT.
- Building SQ. FT. 2678
- Cap Rate: 7.88
- LOT SQ. FT. 5398
- Year Built: 1961
- CBA #: 636724
418 On Central
418, Central Ave, Kent, WA  98032- Available SQ. FT.
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 59497
- Year Built: 1955
- CBA #: 635969
Cascadian Fruit Building
300, Worthen St, Wenatchee, WA  98801- Available SQ. FT.
- Building SQ. FT. 123582
- Cap Rate:
- LOT SQ. FT. 130680
- Year Built: 1920
- CBA #: 631277
Washington State Apartment Buildings
The market for Washington State apartments buildings for sale has never been stronger. Why is the market for Washington State Apartment buildings strong? Low interest rates are one of the key factors that have led to the continued market strength. Over the last 30 years mortgage interest rates have ranged from 4% to over 16%. Currently, the average interest rates for multi-family financing are in the low 4%. In addition to low interest rates, market volatility in other asset classes has led to strength in the market for apartment buildings.
Multi-family has been considered one of the lowest risk asset classes for decades and the pandemic has only magnified the disparity in risk. The office building market has concerns over the work from home movement and general pullback in office demand from large businesses. The retail asset class has been sliding backwards for several years due to the impact of online retail sales. The industrial market is the asset class that is currently taking second place to multi-family. The reason that multi-family markets remain the safest best is due to the fact that all people need a place to live. When the economy is strong, people tend to be gaining better jobs and renting nicer apartment units. When the economy is weak, people tend to pull back. In extreme cases, people lose their homes and rent apartments. Regardless of economic conditions, there is always a market for Washington State apartment buildings. What are the current factors that are causing the market to be stronger than usual?
Due to the easy access to low interest capital, the market cap rates for Washington State apartment buildings for sale and recently sold have ranged from 3% to 6% depending on the the location, age, and other factors. When all the factors are added up, the reasons the Washington State apartment building market is strong is clear. Low interest rates allow for lower payments from investors, which leads to more buying power. More buying power leads to more buyers. Low interest rates leads to higher prices.