Listings/Riverton View Apartments
Riverton View Apartments
On the Market
Price: $3,995,000
Offers: Reviewed Upon Receipt
Tour Dates: Call Broker
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Site Details
Unit Mix
Opportunity
The Riverton View Apartments, a 24-unit property in Tukwila, WA, presents an excellent value-add investment with substantial rent growth potential. Positioned below market rent, the property provides an opportunity to enhance cash flow through rent adjustments without immediate renovations, maximizing returns efficiently.
- Significant Rent Upside: Existing rents are approximately 46% below market, offering substantial growth potential upon lease turnover.
- Operational Efficiency Opportunities: Streamlined management practices can help reduce expenses and increase NOI.
- Value-Add Potential: Interior upgrades, including modern finishes, appliances, and in-unit laundry, can enhance tenant appeal and potential rent increases.
- Recent Capital Improvements: Upgrades include a new roof, updated electrical panels, new toilets, and window replacements, improving longevity and reducing future capital expenditures.
Location
Open Google MapsRiverton View Apartments
3455 S 144th St
Tukwila, WA 98168
Units: 24
Price: $3,995,000
About the Area
Tukwila, located just south of Seattle, is a vibrant and strategically connected community in the Puget Sound region. Known for its accessibility, it offers convenient proximity to major highways (I-5, I-405), Seattle-Tacoma International Airport, and the Tukwila Light Rail Station, making it ideal for commuters. The area is home to Southcenter Mall, the largest shopping center in the Pacific Northwest, along with diverse dining, recreational options, and green spaces. With strong employment opportunities nearby, including major employers like Boeing, Tukwila is an attractive and affordable alternative to Seattle for residents, supporting a high demand for multifamily housing.
$97,348
Average Household Income (3 Miles)
Tukwila Public Library
2 Minute Drive
Tukwila Light Rail Station
5 Minute Drive
Westfield Southcenter Mall
8 Minute Drive