Canyon Creek Apartment opportunity w/SEPA approval & Commercial Site Development county approval for a 136 Unit Apartment Project. Amazing location assemblage of 6.5 acres off Canyon Park, behind Albertsons. All approved Site Engineering, Architectural plans, and Land included in the List price. Summer 2021 build. 81 Units 1 Bed/1Bath and 55 Units 2 bed/2 Bath. Site approved for 5 buildings in the Woody Walkup style with 130 individual garages, 295 additional parking spaces. Market value of the built out project with certificate of occupancy is estimated at $36+ million+. Great return with a 5 cap, plus initial buildout profit. Adjacent to newer construction 5100 Summit apartments with stable rents! Must see opportunity, wont last long.
Source: NWMLS / Windermere Real Estate Central
- Lot Size 278,000 sq ft
- Lot Details Paved
- MLS Number 1735919