Aria Apartments (Status: Back on Market)
15817, 64th St, Sumner, WA 98390
Originally built in 1973 and partially renovated over the course of the last few years, the Aria Apartments is a 40 Unit value add opportunity with a 6% in place cap rate. The property is close to receiving final approval for the development of 7 additional units in the clubhouse area of the property. The existing units consist of a mix of (12) 1×1 and (28) 2×1 units in a charming garden style setting, and all with washer and dryer in unit. Tenants enjoy the next door amenity of the brand new Gordon Family YMCA, a multi-million dollar, state of the art community and health center. New ownership will inherit a stabilized tenant base and a building with new roofs and 25% of the units fully renovated to high end standards including new cabinets, stainless appliances, quartz counters.
Asset Class: Multi-Family
Year Built: 1973
Building Total Square Feet: 36864
Available Lease Space Square Feet:
Number of Floors: 1
Total Parking Spaces: 64
Local Zoning Information: MDR Sumner
Listing Courtesy of: Westlake Associates, Inc.
Disclaimer: The information contained in this listing has not been verified by Windermere Real Estate/Whatcom, Inc. DBA North Sound Commercial and should be verified by the buyer.
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