Under Contract: Prosser 13-Unit

Kinney Way Apartments | 1210 S Kinney Way, Prosser, WA 99350

You will have a difficult time finding a better cash flow deal in Eastern Washington in today’s market! This opportunity features under-market rents of $261 per unit per month. Market rent has been proven in recently leased Unit C of $1,025 without any additional upgrades to the exterior or interiors.

This sale also includes a development opportunity on a vacant lot and the manufactured home lot, totaling 0.367 acres which would allow for 7 units under current Prosser zoning: Residential, High Density.

Download Offering Memorandum

Investment Opportunity

Day 1 Cashflow

Day 1 estimated 7.1% cash-on-cash return
Consistently full apartments in the past 8 years
Supply constrained market with strong employment fundamentals and recent growth
Flexible financing either as 4 residential loans or 1 commercial loan for all parcels and buildings

Value-Add Options

Increase rents +$216 average to market rent
Proven market rent in 1210-C of $1,025
7-unit development opportunity on the vacant lot
Minimal CapEx to achieve market rents

Location Amenities

Beautiful property amenities with green space, ample parking, and scenic view of rolling hillside
Prosser features growing agricultural employment and Benton County jobs

Download OM

Gallery

Download OM

NWMLS #1819541

CBA #642283