Colliers International’s Pacific Northwest Multifamily Advisors present Kirkland 10. Available to purchase separately, or along with Kirkland 5, as part of the “Kirkland Portfolio." The Kirkland Portfolio is a rare opportunity to acquire a two property, 15-unit portfolio in Kirkland, Washington. The properties are located just one mile apart in one of the most sought after submarkets in the region – home to major employers including Google, Tableau and Wave Broadband. The neighborhood is rich with amenities and highly walkable, plus it boasts waterfront access to Lake Washington and terrific public schools. The area consists of mostly high end single family homes with a limited supply of rental properties. As demand from tenants seeking close-in suburban locations accelerates, future rent growth in Kirkland is projected to be strong. These properties are offered as a portfolio with the opportunity to purchase individually as well.
Kirkland 10 is a turnkey investment opportunity that was fully renovated inside and out in 2016. Units feature remodeled kitchens and bathrooms, new windows and doors, in-unit laundry, hardwood floors, recessed lighting and lots of daylight. There is a terrific mix of 9-one bedroom units and 1-studio which appeals to a broad range of potential tenants.
Purchase Price: $4,150,000
Pro Forma Cap Rate: 3.6%
Site Area: 10,200 SF (0.23 acres)
Parcel: 390010-0005
Zoning: RS 5.0
NRSF: 5,232
Units: 10
Parking: 6
Average Unite Size: 523 SF
Year Built: 2000
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Tim.McKay@colliers.com
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Dan.Chhan@colliers.com
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+1 206 515 4495
Matt.Kemper@colliers.com