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Timber Heights
Sale Price $5,400,00
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Property Details
Sale Details
Opportunity
Sitting near the heart of Kent, Timber Heights apartments are conventionally located right off Interstate – 5 and minutes East from downtown Kent.
Constructed in 1966, this 35-unit offering provides investors a rare value-add opportunity coupled with a mix of turkey fully renovated units. Comprised of three buildings, Timber Heights holds 8 premium fully renovated units with W/D, 13 lightly upgraded units and 14 original units ripe for interior improvements. Timber Heights offers a diversified mix of 3, 2 and 1-bedroom units with an average unit size of 760 SF.
Timber Heights is just 2 miles East of Kent Station and 1.5 miles West of Interstate-5, providing easy access for residents to downtown Seattle and Tacoma. A transit-oriented community with ties to Seattle CBD, Timber Heights is well positioned to capitalize on strength of local employers and continued rent growth throughout the region.
35 APARMENT HOMES in desirable and centrally located Kent community
HEAVY VALUE – ADD opportunity to finish interior renovations and increase NOI by over 37%
IDEAL UNIT MIX (22) 2-bedroom 1 bath, (11) 1-bedroom 1-bath and (2) 3-bedroom 1 bath units averaging 760 SF
TRANSIT ORIENTED community property is minutes from Kent station and Interstate – 5
TOP OF THE MARKET interior finishes on fully renovated units.
LOW DENSITY APARTMENT community holding 35-units on 1.28 acres
STABILIZE EXPENSES – opportunity to cut cost by bringing payroll down to market standard
Location
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About the Area
Kent Valley is home to many of the world’s leading aerospace, advanced manufacturing and global distribution companies. The region is fueled by a rich legacy of innovation, trade and supply chain expertise and a world-class work force making it a leader in industrial modernization.
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