The Walk on Bainbridge Island (Status: Pending)
401, Madrona Way, Bainbridge Island, WA 98110
38 units in Winslow, Bainbridge Island’s downtown. Market Cap 4.43%, Current Cap 4.27%. Demographics comparable to Bellevue, an ‘A’ submarket outside of Seattle, High end construction built in 2019/20. The currently below-market rent provides the buyer an opportunity to increase income while likely maintaining high occupancy (currently approx. 100%) with no concessions or delinquencies. Built as condominiums, offering a new owner an alternative exit strategy in the form of selling individual buildings or townhome units. The Walk provide a buyer a low-risk investment with near and long-term growth potential. 6th safest city in Wash State, low utility costs- Zero Energy project with each home designed to be Net Zero energy with low maintenance solar panels. 40 off-street parking spaces.
Asset Class: Multi-Family
Year Built: 2019
Building Total Square Feet: 42660
Available Lease Space Square Feet:
Number of Floors: 2
Total Parking Spaces: 40
Local Zoning Information:
Listing Courtesy of: Kidder Mathews
Disclaimer: The information contained in this listing has not been verified by North Sound Commercial, a division of Pacific Continental Realty, LLC and should be verified by the buyer, seller, or tenant.