Washington State Apartment Buildings for Sale
There is a strong market for Washington State apartment buildings. With current interest rates in the 4% range, multi-family investors have great buying power. While low interest rates are great news for buyers, they are better news for sellers as the market cap rates are down, resulting in higher asking and sales prices.
Highland Apartments
1222, Highland Ave, Clarkston, WA  99403- Available SQ. FT. 23286
- Building SQ. FT. 23286
- Cap Rate:
- LOT SQ. FT. 101059
- Year Built: 1970
- CBA #: 678730
Chestnut Apartments
1108, Chestnut St, Clarkston, WA  99403- Available SQ. FT.
- Building SQ. FT. 7720
- Cap Rate:
- LOT SQ. FT. 10890
- Year Built: 1958
- CBA #: 678718
Stadium Place
145, King St, Seattle, WA  98134- Available SQ. FT. 1160
- Building SQ. FT. 578250
- Cap Rate:
- LOT SQ. FT. 103237
- Year Built: 2014
- CBA #: 678690
Hawthorne
1618, Bellevue Ave, Seattle, WA  98122- Available SQ. FT.
- Building SQ. FT. 104452
- Cap Rate:
- LOT SQ. FT. 16086
- Year Built: 2001
- CBA #: 678683
5610 S M Street
5610, M St, Tacoma, WA  98408- Available SQ. FT. 2683
- Building SQ. FT. 2683
- Cap Rate: 4.65
- LOT SQ. FT. 6011
- Year Built: 1978
- CBA #: 678640
The Lookout
755, Bellevue Ave, Seattle, WA  98102- Available SQ. FT. 9583
- Building SQ. FT. 4233
- Cap Rate:
- LOT SQ. FT. 9583
- Year Built: 1933
- CBA #: 678637
Brookside Apartments
12032, 32nd Ave, Seattle, WA  98125- Available SQ. FT.
- Building SQ. FT. 5753
- Cap Rate: 2.42
- LOT SQ. FT. 6534
- Year Built: 1965
- CBA #: 678635
Hosea Apartments
12011, 32nd Ave, Seattle, WA  98125- Available SQ. FT.
- Building SQ. FT. 8880
- Cap Rate: 5.00
- LOT SQ. FT. 9148
- Year Built: 1965
- CBA #: 678613
Buzz Inn Steakhouse - Development Site
3121, Broadway, Everett, WA  98201- Available SQ. FT. 0
- Building SQ. FT. 13102
- Cap Rate:
- LOT SQ. FT. 18295
- Year Built: 1957
- CBA #: 678612
The Aloha House
2460, Northgate Way, Seattle, WA  98125- Available SQ. FT.
- Building SQ. FT. 5800
- Cap Rate: 6.19
- LOT SQ. FT. 8000
- Year Built: 1962
- CBA #: 678607
Valley Apartments
1141, Martin Luther King Junior Way, Seattle, WA  98122- Available SQ. FT. 1120
- Building SQ. FT. 38644
- Cap Rate:
- LOT SQ. FT. 14268
- Year Built: 2018
- CBA #: 678603
205 W 38th St
205, 38th St, Garden City, ID  83714- Available SQ. FT. 117612
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 50094
- Year Built: 1948
- CBA #: 678533
12548 W Overland Road
12548, Overland Rd, Boise, ID  83709- Available SQ. FT. 236095
- Building SQ. FT. 3200
- Cap Rate:
- LOT SQ. FT. 236095
- Year Built: 1977
- CBA #: 678525
Timberlawn Apartments
15850, 40th St, Redmond, WA  98052- Available SQ. FT. 0
- Building SQ. FT. 44808
- Cap Rate:
- LOT SQ. FT. 97399
- Year Built: 1987
- CBA #: 678513
Rosada Apartments
1132, 19th Ave, Seattle, WA  98122- Available SQ. FT.
- Building SQ. FT. 4806
- Cap Rate: 4.22
- LOT SQ. FT. 4792
- Year Built: 1922
- CBA #: 678493
11358 W Clearwater Avenue
11292, Clearwater Ave, Kennewick, WA  99336- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 619859
- Year Built:
- CBA #: 678468
TBD S 2nd Ave
2211, 2nd Ave, Pocatello, ID  83201- Available SQ. FT. 133212
- Building SQ. FT. 133212
- Cap Rate:
- LOT SQ. FT. 271814
- Year Built:
- CBA #: 678363
Sumner Commercial
15403, Main St, Sumner, WA  98390- Available SQ. FT. 2448
- Building SQ. FT. 2448
- Cap Rate:
- LOT SQ. FT. 57064
- Year Built: 1969
- CBA #: 678345
1427 W 7th Avenue
1427, 7th Ave, Spokane, WA  99204- Available SQ. FT.
- Building SQ. FT. 2779
- Cap Rate:
- LOT SQ. FT. 7100
- Year Built: 1902
- CBA #: 678298
13017 NE 71st Avenue
13017, 71st Ave, Vancouver, WA  98686- Available SQ. FT. 120661
- Building SQ. FT. 1584
- Cap Rate:
- LOT SQ. FT. 113231
- Year Built: 1986
- CBA #: 678283
4902 111th Street SW
4902, 111th St, Lakewood, WA  98499- Available SQ. FT. 4584
- Building SQ. FT. 4584
- Cap Rate: 4.38
- LOT SQ. FT. 19166
- Year Built: 1960
- CBA #: 678279
4301 SW Myrtle Street
4301, Myrtle St, Seattle, WA  98136- Available SQ. FT. 5936
- Building SQ. FT. 5936
- Cap Rate: 5.31
- LOT SQ. FT. 5924
- Year Built: 1926
- CBA #: 678240
11023 Greenwood Avenue N
11023, Greenwood Ave, Seattle, WA  98133- Available SQ. FT.
- Building SQ. FT. 8708
- Cap Rate: 5.02
- LOT SQ. FT. 7231
- Year Built: 1974
- CBA #: 678230
725 Broadway
725, Broadway, Tacoma, WA  98402- Available SQ. FT.
- Building SQ. FT. 45000
- Cap Rate:
- LOT SQ. FT. 22216
- Year Built: 1919
- CBA #: 678152
207 N 104th Street - 9 Unit
207, 104th St, Seattle, WA  98133- Available SQ. FT. 10808
- Building SQ. FT. 10808
- Cap Rate: 5.73
- LOT SQ. FT. 8276
- Year Built: 1977
- CBA #: 678139
West Coast Landing
0, Petrovitsky Rd, Renton, WA  98058- Available SQ. FT. 739213
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 739213
- Year Built:
- CBA #: 678134
9403 Linden Avenue N
9403, Linden Ave, Seattle, WA  98103- Available SQ. FT.
- Building SQ. FT. 10683
- Cap Rate: 3.43
- LOT SQ. FT. 6098
- Year Built: 1989
- CBA #: 678132
1600 NE Pleasant Street
1600, Pleasant St, Keyport, WA  98345- Available SQ. FT. 9600
- Building SQ. FT. 9600
- Cap Rate:
- LOT SQ. FT. 20192
- Year Built: 1972
- CBA #: 678103
203-209 W 5th St & 532 Villard St
203, 5 St, Cheney, WA  99004- Available SQ. FT. 3952
- Building SQ. FT. 5928
- Cap Rate:
- LOT SQ. FT. 17604
- Year Built: 1967
- CBA #: 678087
3 Acres - 500 SE Rasmussen Blvd
500, Rasmussen Blvd, Unknown, WA  98604- Available SQ. FT. 130680
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 130680
- Year Built:
- CBA #: 678071
University District Rooming House
4725, 8th Ave, Seattle, WA  98105- Available SQ. FT. 1800
- Building SQ. FT. 1800
- Cap Rate:
- LOT SQ. FT. 1002
- Year Built: 2019
- CBA #: 678066
1101 West Maxwell Avenue
1101, Maxwell, Spokane, WA  99201- Available SQ. FT. 0
- Building SQ. FT. 4363
- Cap Rate: 5.58
- LOT SQ. FT. 6970
- Year Built: 1897
- CBA #: 678055
305 8th Street
305, 8th St, Sultan, WA  98294- Available SQ. FT. 37462
- Building SQ. FT. 784
- Cap Rate:
- LOT SQ. FT. 37462
- Year Built: 1980
- CBA #: 678048
326 N State Street
326, State St, Shelley, ID  83274- Available SQ. FT. 12400
- Building SQ. FT. 12400
- Cap Rate:
- LOT SQ. FT. 38768
- Year Built:
- CBA #: 678034
Puyallup South Hill Assemblage
303, 39 Ave, Puyallup, WA  98374- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 632951
- Year Built:
- CBA #: 678033
14318 E 13th Avenue
14318, 13th Ave, Spokane, WA Â- Available SQ. FT. 2976
- Building SQ. FT. 2976
- Cap Rate: 5.58
- LOT SQ. FT. 39089
- Year Built: 2022
- CBA #: 677982
14310 E 13th Avenue
14310, 13th Ave, Spokane, WA  99037- Available SQ. FT. 5952
- Building SQ. FT. 5952
- Cap Rate: 5.64
- LOT SQ. FT. 39089
- Year Built: 2022
- CBA #: 677967
Interlake 6-Unit
3606, Interlake Ave, Seattle, WA  98103- Available SQ. FT. 2940
- Building SQ. FT. 3080
- Cap Rate: 4.48
- LOT SQ. FT. 4356
- Year Built: 1957
- CBA #: 677966
1.45 Acres - Zoned Commercial
0, Perry Ave, Bremerton, WA  98310- Available SQ. FT. 63162
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 63162
- Year Built:
- CBA #: 677950
758 Woodford Ave N
758, Woodford Ave, Kent, WA  98031- Available SQ. FT.
- Building SQ. FT. 2360
- Cap Rate:
- LOT SQ. FT. 7971
- Year Built: 1955
- CBA #: 677947
301 W 3rd Street
301, 3rd St, Aberdeen, WA  98520- Available SQ. FT. 10000
- Building SQ. FT. 10000
- Cap Rate: 8.40
- LOT SQ. FT. 6534
- Year Built: 1923
- CBA #: 677929
The Talisman
7405, 168th Avenue, Redmond, WA  98052- Available SQ. FT. 2032
- Building SQ. FT. 468538
- Cap Rate:
- LOT SQ. FT. 91486
- Year Built: 2019
- CBA #: 677855
7216 California Ave SW
7216, California Ave, Seattle, WA  98136- Available SQ. FT. 7216
- Building SQ. FT. 7216
- Cap Rate:
- LOT SQ. FT. 10019
- Year Built: 1955
- CBA #: 677842
Lakeview Terrace Apartments
68, Hwy 28, Soap Lake, WA  98851- Available SQ. FT. 6192
- Building SQ. FT. 6192
- Cap Rate:
- LOT SQ. FT. 37500
- Year Built: 1947
- CBA #: 677765
Courtland Place
1309, Evergreen Rd, Spokane Valley, WA  99216- Available SQ. FT. 0
- Building SQ. FT. 71517
- Cap Rate:
- LOT SQ. FT. 186872
- Year Built: 1997
- CBA #: 677730
4565 Birch Bay Lynden Road
4565, Birch Bay Lynden Rd, Blaine, WA  98230- Available SQ. FT. 217800
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 217800
- Year Built:
- CBA #: 677727
The Senator Building
31, Front St, Yakima, WA  98901- Available SQ. FT. 40500
- Building SQ. FT. 35000
- Cap Rate:
- LOT SQ. FT. 6970
- Year Built: 1910
- CBA #: 677713
Twin Coves Inn
21058, Highway 17, Soap Lake, WA  98851- Available SQ. FT. 4091
- Building SQ. FT. 4091
- Cap Rate:
- LOT SQ. FT. 186437
- Year Built: 1930
- CBA #: 677692
Partially Completed - Greenwood 63 Unit
10540, Greenwood Ave, Seattle, WA  98133- Available SQ. FT. 14400
- Building SQ. FT. 62012
- Cap Rate:
- LOT SQ. FT. 14400
- Year Built: 2024
- CBA #: 677644
Shelton Springs MF Land
1483, Shelton Springs Rd, Shelton, WA  98584- Available SQ. FT. 156816
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 156816
- Year Built:
- CBA #: 677507
2316 S G Street
2316, G St, Tacoma, WA  98405- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 4879
- Year Built:
- CBA #: 677499
The Davison Apartments
5003, 15th Ave, Seattle, WA  98105- Available SQ. FT.
- Building SQ. FT. 22018
- Cap Rate: 3.93
- LOT SQ. FT. 8220
- Year Built: 1926
- CBA #: 677448
Lost Lake Forest Apartments
7911, Washington Blvd, Lakewood, WA  98498- Available SQ. FT.
- Building SQ. FT. 30375
- Cap Rate:
- LOT SQ. FT. 83635
- Year Built: 2021
- CBA #: 677413
Exeter House
720, Seneca St, Seattle, WA  98101- Available SQ. FT. 6941
- Building SQ. FT. 164120
- Cap Rate:
- LOT SQ. FT. 14375
- Year Built: 1927
- CBA #: 677411
Woodin Creek Village - Phase 2
17255, 135th Avenue, Woodinville, WA  98072- Available SQ. FT. 2697
- Building SQ. FT. 89965
- Cap Rate:
- LOT SQ. FT. 708361
- Year Built: 2019
- CBA #: 677408
13076 Renton Ave S
13076, Renton Ave, Seattle, WA  98178- Available SQ. FT.
- Building SQ. FT. 1780
- Cap Rate:
- LOT SQ. FT. 28358
- Year Built: 1941
- CBA #: 677407
417 Minor Avenue N
417, Minor Ave, Seattle, WA  98109- Available SQ. FT.
- Building SQ. FT. 4107
- Cap Rate:
- LOT SQ. FT. 3600
- Year Built: 2020
- CBA #: 677290
Glen Ellen
1305, Denny Way, Seattle, WA  98122- Available SQ. FT.
- Building SQ. FT. 15750
- Cap Rate:
- LOT SQ. FT. 7187
- Year Built: 1922
- CBA #: 677222
Lake Court
2012, 43rd Ave, Seattle, WA  98112- Available SQ. FT.
- Building SQ. FT. 41740
- Cap Rate:
- LOT SQ. FT. 57761
- Year Built: 1922
- CBA #: 677219
Faneuil Hall
1562, Olive Way, Seattle, WA  98102- Available SQ. FT.
- Building SQ. FT. 25720
- Cap Rate:
- LOT SQ. FT. 7884
- Year Built: 1928
- CBA #: 677218
2506 S Jackson Street
2506, Jackson St, Seattle, WA  98144- Available SQ. FT. 2480
- Building SQ. FT. 2480
- Cap Rate:
- LOT SQ. FT. 3485
- Year Built: 1912
- CBA #: 677123
TBD Idaho Street Land
0, Idaho St, Rathdrum, ID  83858- Available SQ. FT. 32234
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 31978
- Year Built:
- CBA #: 677111
6001 33rd Avenue NE
6001, 33rd Ave, Tulalip, WA  98271- Available SQ. FT. 38729
- Building SQ. FT. 38729
- Cap Rate:
- LOT SQ. FT. 300564
- Year Built: 2014
- CBA #: 677074
184 Meade Hill Road
184, Meade Hill Rd, Glenoma, WA  98336- Available SQ. FT.
- Building SQ. FT. 1104
- Cap Rate:
- LOT SQ. FT. 209524
- Year Built: 1960
- CBA #: 677065
5101 State Route 270
5101, State Route 270, Pullman, WA  99163- Available SQ. FT. 15463800
- Building SQ. FT. 3278
- Cap Rate:
- LOT SQ. FT. 16597512
- Year Built: 1967
- CBA #: 676970
1107 W Sharp Avenue
1107, Sharp Ave, Spokane, WA  99201- Available SQ. FT. 0
- Building SQ. FT. 1868
- Cap Rate:
- LOT SQ. FT. 7100
- Year Built: 1902
- CBA #: 676963
Rowlock
3620, Phinney Ave, Seattle, WA  98103- Available SQ. FT.
- Building SQ. FT. 24942
- Cap Rate:
- LOT SQ. FT. 10000
- Year Built: 2024
- CBA #: 676945
Alt Flats
421, Belmont Ave, Seattle, WA  98102- Available SQ. FT.
- Building SQ. FT. 27728
- Cap Rate:
- LOT SQ. FT. 7200
- Year Built: 2024
- CBA #: 676944
Sound on 12th
0, 157-159 12th Ave, Seattle, WA  98122- Available SQ. FT.
- Building SQ. FT. 32418
- Cap Rate:
- LOT SQ. FT. 7002
- Year Built: 2024
- CBA #: 676941
I-5 Everett/Industrial
3207, Pacific Avenue, Everett, WA  98201- Available SQ. FT. 251341
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 88862
- Year Built: 1969
- CBA #: 676873
945 N 92nd Street
945, 92nd St, Seattle, WA  98103- Available SQ. FT. 3600
- Building SQ. FT. 3600
- Cap Rate:
- LOT SQ. FT. 5097
- Year Built: 1906
- CBA #: 676869
929 N Ash Street
929, Ash St, Spokane, WA  99201- Available SQ. FT.
- Building SQ. FT. 4590
- Cap Rate:
- LOT SQ. FT. 7057
- Year Built: 1975
- CBA #: 676867
10520 Greenwood Avenue N
10520, Greenwood Ave, Seattle, WA  98133- Available SQ. FT. 0
- Building SQ. FT. 6596
- Cap Rate:
- LOT SQ. FT. 15682
- Year Built: 1955
- CBA #: 676829
3001 Center Street
3001, Center St, Tacoma, WA  98409- Available SQ. FT. 72310
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 40598
- Year Built: 2014
- CBA #: 676828
10532 Greenwood Ave N
10532, Greenwood Ave, Seattle, WA  98133- Available SQ. FT.
- Building SQ. FT. 6466
- Cap Rate: 5.31
- LOT SQ. FT. 7200
- Year Built: 1978
- CBA #: 676750
9324 State Route 525
9324, Hwy 525, Clinton, WA  98236- Available SQ. FT. 7224
- Building SQ. FT. 7244
- Cap Rate: 0.00
- LOT SQ. FT. 110989
- Year Built: 1975
- CBA #: 676673
North Admiral Triplex
4511, Lander St, Seattle, WA  98116- Available SQ. FT.
- Building SQ. FT. 2810
- Cap Rate:
- LOT SQ. FT. 5401
- Year Built: 1910
- CBA #: 676672
Evolve Apartments
954, Union St, Seattle, WA  98122- Available SQ. FT. 1230
- Building SQ. FT. 103490
- Cap Rate:
- LOT SQ. FT. 18731
- Year Built: 2013
- CBA #: 676570
Evolve Apartments
954, Union St, Seattle, WA  98122- Available SQ. FT. 1744
- Building SQ. FT. 103490
- Cap Rate:
- LOT SQ. FT. 18731
- Year Built: 2013
- CBA #: 676569
503 N 2nd Street
503, 2nd St, Coeur D Alene, ID  83814- Available SQ. FT.
- Building SQ. FT. 4736
- Cap Rate: 5.40
- LOT SQ. FT. 5314
- Year Built: 1949
- CBA #: 676518
415 Martin Luther King Jr Way S
415, Martin Luther King Jr Way, Seattle, WA  98144- Available SQ. FT. 2256
- Building SQ. FT. 2256
- Cap Rate:
- LOT SQ. FT. 3615
- Year Built: 1920
- CBA #: 676341
1821 S Vista Avenue
1821, Vista Ave, Boise, ID  83705- Available SQ. FT.
- Building SQ. FT. 9962
- Cap Rate:
- LOT SQ. FT. 9714
- Year Built: 2022
- CBA #: 676339
18528-18534 8th Avenue NE
18528, 8th Ave, Shoreline, WA  98155- Available SQ. FT.
- Building SQ. FT. 1760
- Cap Rate:
- LOT SQ. FT. 32731
- Year Built: 1948
- CBA #: 676263
Meadows Mobile Home Park
1270, North Bend Way, North Bend, WA  98045- Available SQ. FT.
- Building SQ. FT. 1020
- Cap Rate:
- LOT SQ. FT. 177725
- Year Built:
- CBA #: 676254
16801 E Sprague Avenue
16801, Sprague Ave, Spokane Valley, WA  99037- Available SQ. FT. 43560
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 43560
- Year Built: 1980
- CBA #: 676250
256 Burwell Street
256, Burwell St, Bremerton, WA  98337- Available SQ. FT. 7452
- Building SQ. FT. 7452
- Cap Rate: 3.56
- LOT SQ. FT. 6970
- Year Built: 1933
- CBA #: 676246
Elevation 16
1505, 107th St, Seattle, WA  98146- Available SQ. FT. 1171
- Building SQ. FT. 133966
- Cap Rate:
- LOT SQ. FT. 86500
- Year Built: 0
- CBA #: 676206
Nesbit
8849, Nesbit Ave, Seattle, WA  98103- Available SQ. FT. 5000
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 4792
- Year Built: 0
- CBA #: 676189
Melbourne Building
412, Meeker St, Kent, WA  98032- Available SQ. FT. 8376
- Building SQ. FT. 8376
- Cap Rate: 6.09
- LOT SQ. FT. 8156
- Year Built: 1958
- CBA #: 676152
614 S 15th Street
614, 15th St, Tacoma, WA  98405- Available SQ. FT.
- Building SQ. FT. 1440
- Cap Rate:
- LOT SQ. FT. 2439
- Year Built:
- CBA #: 676120
Dallas Avenue South 6-Plex
8333, Dallas Ave, Seattle, WA  98108- Available SQ. FT. 2600
- Building SQ. FT. 2600
- Cap Rate: 4.71
- LOT SQ. FT. 3230
- Year Built: 1901
- CBA #: 676101
Sydney Court
1016, 86th St, Vancouver, WA  98665- Available SQ. FT. 16370
- Building SQ. FT. 16370
- Cap Rate:
- LOT SQ. FT. 21344
- Year Built: 1968
- CBA #: 676001
Yakima Court
602, 3rd St, Yakima, WA  98901- Available SQ. FT. 15065
- Building SQ. FT. 15065
- Cap Rate:
- LOT SQ. FT. 36155
- Year Built: 1988
- CBA #: 675928
14544 5th Avenue NE
14544, 5th Ave, Shoreline, WA  98155- Available SQ. FT.
- Building SQ. FT. 1070
- Cap Rate:
- LOT SQ. FT. 7449
- Year Built: 1948
- CBA #: 675879
Our Mini Storage
810, Broadway, Everett, WA  98201- Available SQ. FT. 91476
- Building SQ. FT. 21768
- Cap Rate:
- LOT SQ. FT. 92347
- Year Built: 1990
- CBA #: 675813
Yesler Towers
809, Washington Street, Seattle, WA  98104- Available SQ. FT. 2788
- Building SQ. FT. 360000
- Cap Rate:
- LOT SQ. FT. 33615
- Year Built: 0
- CBA #: 675781
Yesler Towers
809, Washington Street, Seattle, WA  98104- Available SQ. FT. 1488
- Building SQ. FT. 360000
- Cap Rate:
- LOT SQ. FT. 33615
- Year Built: 0
- CBA #: 675780
Yesler Towers
809, Washington Street, Seattle, WA  98104- Available SQ. FT. 1300
- Building SQ. FT. 360000
- Cap Rate:
- LOT SQ. FT. 33615
- Year Built: 0
- CBA #: 675779
132 E Walnut Avenue
132, Walnut Ave, Genesee, ID  83832- Available SQ. FT.
- Building SQ. FT. 9800
- Cap Rate:
- LOT SQ. FT. 5599
- Year Built:
- CBA #: 675765
Washington State Apartment Buildings
The market for Washington State apartments buildings for sale has never been stronger. Why is the market for Washington State Apartment buildings strong? Low interest rates are one of the key factors that have led to the continued market strength. Over the last 30 years mortgage interest rates have ranged from 4% to over 16%. Currently, the average interest rates for multi-family financing are in the low 4%. In addition to low interest rates, market volatility in other asset classes has led to strength in the market for apartment buildings.
Multi-family has been considered one of the lowest risk asset classes for decades and the pandemic has only magnified the disparity in risk. The office building market has concerns over the work from home movement and general pullback in office demand from large businesses. The retail asset class has been sliding backwards for several years due to the impact of online retail sales. The industrial market is the asset class that is currently taking second place to multi-family. The reason that multi-family markets remain the safest best is due to the fact that all people need a place to live. When the economy is strong, people tend to be gaining better jobs and renting nicer apartment units. When the economy is weak, people tend to pull back. In extreme cases, people lose their homes and rent apartments. Regardless of economic conditions, there is always a market for Washington State apartment buildings. What are the current factors that are causing the market to be stronger than usual?
Due to the easy access to low interest capital, the market cap rates for Washington State apartment buildings for sale and recently sold have ranged from 3% to 6% depending on the the location, age, and other factors. When all the factors are added up, the reasons the Washington State apartment building market is strong is clear. Low interest rates allow for lower payments from investors, which leads to more buying power. More buying power leads to more buyers. Low interest rates leads to higher prices.