Kent Manor (Status: Available)

1000, 5th Ave, Kennewick, WA  99336

Phenomenal opportunity to acquire a 51-Unit complex with significant upside in rents and a Pro Forma Cap Rate of 8.66%!

Kent Manor Apartments is a 51-unit affordable housing community located in Kennewick, WA, with convenient access to schools, shopping, restaurants, and main transportation routes serving the Tri-Cities. This property presents an excellent opportunity for a hands-on owner to improve bottom line NOI by reducing expenses, lowering vacancy, and operating more efficiently.

The property was built and placed into service in 1998 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place requiring all units to be rented to income qualifying residents earning no more than 60% of Area Median Income (AMI).

Listing Details

Asset Class: Multi-Family
Year Built: 1998
Building Total Square Feet: 53686
Available Lease Space Square Feet:
Number of Floors: 4
Total Parking Spaces: 0
Local Zoning Information:

CBA

Listing Courtesy of: Marcus & Millichap, Inc.

Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, DBA North Sound Commercial and should be verified by the buyer, seller, or tenant.

Location

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