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Stateside Flats 210 Bethel St NE Immeuble residentiel 38 lots 4 228 063 € (111 265 €/Lot) Taux de capitalisation 6,22 % Olympia, WA 98506
Certaines informations ont été traduites automatiquement.
Informations principales sur l'investissement
- Favorable Financing Dynamics
- Strong Rental Growth Trajectory with Significant Upside Potential
- Proximity to Major Employment Centers
- Prime Location with Exceptional Walkability
- Attractive Affordability Profile in Established Renter Market
- Turnkey Asset in a Thin Market
Résumé analytique
Stateside Flats presents a prime investment opportunity at 210 Bethel St NE in Olympia, WA, centrally located in the city's thriving economic landscape. With 27 units averaging 652 SF each, this 1970-built property offers a lucrative purchase price of $4,900,000. Boasting a solid T-3 cap rate of 6.22% and market cap rate of 6.92%, Stateside Flats sits on a 26,136 SF lot in the desirable HDC-1 zoning area of Thurston County. The property's strategic position in Greater Olympia benefits from the region's economic diversity, attracting a growing number of high-income professionals opting for renting over owning. With recent renovations such as a new roof and unit upgrades, Stateside Flats promises stable cash flow potential and continual growth in one of Washington's fastest-growing areas. Don't miss the chance to capitalize on this lucrative real estate opportunity in a market ripe for investment.
- Favorable Financing Dynamics: Offers positive leverage from day one, with attractive debt options and a going-in cap rate of 6.22%.
- Prime Location with Exceptional Walkability: Stateside Flats is located just minutes from Downtown Olympia and the State's Capitol Campus, with a Walk Score and Bike Score of 87 and 83, providing easy access to transit and major arterials.
- Strong Rental Growth Trajectory: Submarket asking rents have increased 20.69% since 2021, demonstrating robust demand and clear income growth potential.
- Significant Upside Potential: Opportunity to increase NOI by over 11% by bringing all units to market rate with minimal operational expense changes.
- Attractive Affordability Profile: In-place rents represent just 15.68% of average household income, ensuring tenant affordability while maintaining substantial room for future rent increases.
- Surrounded by Affluent Demographics: Average household income rises from $87,855 within two miles to $101,133 within 10 miles, with over 18,000 households within five miles earning above $100,000 annually.
- Established Renter Market: 55% of housing units within one mile are renter-occupied, compared to 32% metro wide, reflecting a deeply embedded rental community.
- Proximity to Major Employment Centers: Eight miles from the 28-acre Lacey Business Park (home to Amazon, Target, and Home Depot) and one mile from the Port of Olympia, which supports over 5,000 jobs and generates $447 million in business revenue.
- Turnkey Asset in a Thin Market: An ideal acquisition for 1031 exchange buyers or family offices seeking cash flow from a well-maintained property in a market with strong buyer support and limited inventory.
- Favorable Financing Dynamics: Offers positive leverage from day one, with attractive debt options and a going-in cap rate of 6.22%.
- Prime Location with Exceptional Walkability: Stateside Flats is located just minutes from Downtown Olympia and the State's Capitol Campus, with a Walk Score and Bike Score of 87 and 83, providing easy access to transit and major arterials.
- Strong Rental Growth Trajectory: Submarket asking rents have increased 20.69% since 2021, demonstrating robust demand and clear income growth potential.
- Significant Upside Potential: Opportunity to increase NOI by over 11% by bringing all units to market rate with minimal operational expense changes.
- Attractive Affordability Profile: In-place rents represent just 15.68% of average household income, ensuring tenant affordability while maintaining substantial room for future rent increases.
- Surrounded by Affluent Demographics: Average household income rises from $87,855 within two miles to $101,133 within 10 miles, with over 18,000 households within five miles earning above $100,000 annually.
- Established Renter Market: 55% of housing units within one mile are renter-occupied, compared to 32% metro wide, reflecting a deeply embedded rental community.
- Proximity to Major Employment Centers: Eight miles from the 28-acre Lacey Business Park (home to Amazon, Target, and Home Depot) and one mile from the Port of Olympia, which supports over 5,000 jobs and generates $447 million in business revenue.
- Turnkey Asset in a Thin Market: An ideal acquisition for 1031 exchange buyers or family offices seeking cash flow from a well-maintained property in a market with strong buyer support and limited inventory.
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Informations sur l’immeuble
| Prix | 4 228 063 € | Classe d’immeuble | C |
| Prix par lot | 111 265 € | Surface du lot | 0,24 ha |
| Type de vente | Investissement | Surface de l’immeuble | 1 635 m² |
| Taux de capitalisation | 6,22 % | Occupation moyenne | 93% |
| Nb de lots | 38 | Nb d’étages | 3 |
| Type de bien | Immeuble residentiel | Année de construction/rénovation | 1970/2023 |
| Sous-type de bien | Appartement | Ratio de stationnement | 0,2/1 000 m² |
| Style d’appartement | De faible hauteur | ||
| Zonage | HDC-1 | ||
| Prix | 4 228 063 € |
| Prix par lot | 111 265 € |
| Type de vente | Investissement |
| Taux de capitalisation | 6,22 % |
| Nb de lots | 38 |
| Type de bien | Immeuble residentiel |
| Sous-type de bien | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Surface du lot | 0,24 ha |
| Surface de l’immeuble | 1 635 m² |
| Occupation moyenne | 93% |
| Nb d’étages | 3 |
| Année de construction/rénovation | 1970/2023 |
| Ratio de stationnement | 0,2/1 000 m² |
| Zonage | HDC-1 |
Caractéristiques
Caractéristiques du lot
- Balcon
- Lave-vaisselle
- Broyeur d’ordures
- Micro-ondes
- Cuisine
- Réfrigérateur
- Four
- Cuisinière
- Baignoire/Douche
- Congélateur
- Sans tabac
Caractéristiques du site
- Accès 24 h/24
- Accès contrôlé
- Cour
- Laverie
- CVC contrôlé par l’occupant
- Détecteur de fumée
Lot informations sur la combinaison
| Description | Nb de lots | Moy. loyer/mois | m² |
|---|---|---|---|
| 1+1 | 22 | - | 56 |
| 2+1 | 5 | - | 83 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100
Taxes foncières
| Numéro de parcelle | 66500002501 | Évaluation des aménagements | 2 035 597 € |
| Évaluation du terrain | 888 842 € | Évaluation totale | 2 924 439 € |
Taxes foncières
Numéro de parcelle
66500002501
Évaluation du terrain
888 842 €
Évaluation des aménagements
2 035 597 €
Évaluation totale
2 924 439 €
Contacts
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Chad Blenz -
Brandon Lawler -
Jay Timpani -
Mitchell Belcher -
Steven Chattin -
Berkadia
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Vidéos
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Photos
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Rue
Carte
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Stateside Flats | 210 Bethel St NE
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