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$3,260,000
2448401 MLS ⋅ SOLD Status
23-unit value-add apartment community in the desirable Des Moines Marina District. Built in 1962, the Cliff offers a mix of studio 1 and 2 bedroom units. Livable and cool mid-century layouts with great natural light position the property well for a renovation strategy that enhances tenant appeal and drives income potential. Building features and amenity spaces include a convenient common laundry area on the lower level, large and secure tenant storage lockers and a small office suitable for a property manager or maintenance staff. Priced at $150,000 per unit, the Cliff Apartments present a compelling opportunity to acquire a quality asset offering significant upside in a desirable and thinly traded waterfront community.

21833 7th Avenue S, Des Moines

Listing courtesy of Paragon Real Estate Advisors. Selling Office: DBW Private Brokerage LLC.

$2,240,000
2265765 MLS ⋅ SOLD Status
Built in 1967, the Sunwest Apartments is a very well-maintained property that has undergone numerous updates including all new double pane vinyl windows, sliding glass doors, copper plumbing, and interior unit upgrades. The Sunwest Apartments consists of ten large two bedroom one bath units that are clean, spacious, and provide abundant natural light with water views from the top floor units. The property will operate at a 6.07% Cap Rate once the rent increases take effect on November 1st, 2024 with additional rental upside. The location is great for commuters heading to Seattle or the Eastside as the property is located only a half mile from Highway 509 and is only a 2-mile drive to the Angle Lake Light Rail Station.

815 S 219th Street, Des Moines

Listing courtesy of Paragon Real Estate Advisors. Selling Office: Berkshire Hathaway HS NW.

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