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.
Mw8
434, College St, Portland, OR  97201- Available SQ. FT. 41485
- Building SQ. FT. 58147
- Cap Rate:
- LOT SQ. FT. 8752
- Year Built: 2015
- CBA #: 675020
3802 NE Martin Luther King Jr Blvd Apartments
3802, MARTIN LUTHER KING JR BLVD, Portland, OR  97212- Available SQ. FT. 19166
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 19557
- Year Built:
- CBA #: 674958
5880 North Greeley Avenue
5880, Greeley Ave, Portland, OR  97217- Available SQ. FT. 7249
- Building SQ. FT. 7249
- Cap Rate:
- LOT SQ. FT. 4879
- Year Built: 1932
- CBA #: 674959
8324 Mary Avenue NW
8324, Mary Ave, Seattle, WA  98117- Available SQ. FT. 5271
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 5271
- Year Built:
- CBA #: 674870
Spooner Subdivision
7624, Pacific Ave, Tacoma, WA  98408- Available SQ. FT. 11
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 7841
- Year Built: 0
- CBA #: 674828
648 125th Street S
648, 125th St S, Parkland, WA  98447- Available SQ. FT. 84071
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 84027
- Year Built:
- CBA #: 674825
1717 West Pacific Avenue
1717, Pacific Ave, Spokane, WA  99201- Available SQ. FT. 3478
- Building SQ. FT. 3478
- Cap Rate:
- LOT SQ. FT. 7492
- Year Built: 1889
- CBA #: 674795
1306 N Monroe Street & 1315 N Lincoln
1306, Monroe St, Spokane, WA  99201- Available SQ. FT.
- Building SQ. FT. 30000
- Cap Rate:
- LOT SQ. FT. 38839
- Year Built: 1922
- CBA #: 674785
904 E Hartson Avenue
904, Hartson Ave, Spokane, WA  99202- Available SQ. FT. 4121
- Building SQ. FT. 4127
- Cap Rate:
- LOT SQ. FT. 10890
- Year Built: 1982
- CBA #: 674761
2420 E Union Street
2420, Union St, Seattle, WA  98122- Available SQ. FT. 3340
- Building SQ. FT. 3340
- Cap Rate: 5.79
- LOT SQ. FT. 3485
- Year Built: 1905
- CBA #: 674750
3705 N Highway 16
3705, Highway 16, Eagle, ID  83616- Available SQ. FT. 5
- Building SQ. FT. 1364
- Cap Rate:
- LOT SQ. FT. 221241
- Year Built: 1974
- CBA #: 674636
321 1st Street
321, 1st St, Cheney, WA  99004- Available SQ. FT.
- Building SQ. FT. 12000
- Cap Rate:
- LOT SQ. FT. 4400
- Year Built: 1902
- CBA #: 674606
12685 W McMillan Rd
12685, McMillan Rd, Boise, ID  83713- Available SQ. FT. 14375
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 14036
- Year Built:
- CBA #: 674605
9736 Greenwood Avenue North
9736, Greenwood Ave, Seattle, WA  98103- Available SQ. FT. 48663
- Building SQ. FT. 49529
- Cap Rate:
- LOT SQ. FT. 12947
- Year Built: 0
- CBA #: 674590
SW 2nd Street Apartments Investment Sale
1123, 2nd St, Ontario, OR  97914- Available SQ. FT. 7920
- Building SQ. FT. 7920
- Cap Rate:
- LOT SQ. FT. 21475
- Year Built: 1965
- CBA #: 674471
Harmony
8550, 164th Ave, Redmond, WA  98052- Available SQ. FT.
- Building SQ. FT. 28891
- Cap Rate:
- LOT SQ. FT. 10890
- Year Built: 0
- CBA #: 674443
Roosevelt Pines Townhouses
4050, Libby Lane, Boise, ID  83705- Available SQ. FT.
- Building SQ. FT. 16576
- Cap Rate:
- LOT SQ. FT. 84071
- Year Built: 1977
- CBA #: 674432
1718 Bellevue
1722, Bellevue Ave, Seattle, WA  98122- Available SQ. FT.
- Building SQ. FT. 58560
- Cap Rate:
- LOT SQ. FT. 15531
- Year Built:
- CBA #: 674429
Tapps Apartments
0, 29th St, Edgewood, WA  98372- Available SQ. FT. 0
- Building SQ. FT. 29598
- Cap Rate:
- LOT SQ. FT. 60113
- Year Built:
- CBA #: 674392
429 1st Avenue N
429, 1st Ave, Algona, WA  98001- Available SQ. FT.
- Building SQ. FT. 3512
- Cap Rate: 3.63
- LOT SQ. FT. 12632
- Year Built: 1981
- CBA #: 674332
9025 46th Avenue S
9025, 46th Ave, Seattle, WA  98118- Available SQ. FT. 283140000
- Building SQ. FT. 18060
- Cap Rate:
- LOT SQ. FT. 6534
- Year Built: 2023
- CBA #: 674245
41 Byerly Drive
41, Byerly Dr, Belfair, WA  98528- Available SQ. FT. 47916
- Building SQ. FT. 2760
- Cap Rate:
- LOT SQ. FT. 47916
- Year Built: 1970
- CBA #: 674136
5440 S State Street
5440, State St, Tacoma, WA  98409- Available SQ. FT.
- Building SQ. FT. 1488
- Cap Rate:
- LOT SQ. FT. 39857
- Year Built: 1949
- CBA #: 674081
515 12th St SE
515, 12th St, Salem, OR  97301- Available SQ. FT. 75461
- Building SQ. FT. 75461
- Cap Rate:
- LOT SQ. FT. 83622
- Year Built:
- CBA #: 674047
NKA Maliandra Dr
190, Maliandra Dr, Sequim, WA  98382- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 12528
- Year Built:
- CBA #: 674045
500 NE Maiden Lane
500, Maiden Ln, Pullman, WA  99163- Available SQ. FT.
- Building SQ. FT. 12400
- Cap Rate:
- LOT SQ. FT. 12498
- Year Built: 1976
- CBA #: 673995
515 12th St SE
515, 12th St, Salem, OR  97301- Available SQ. FT. 10924
- Building SQ. FT. 75461
- Cap Rate:
- LOT SQ. FT. 83622
- Year Built:
- CBA #: 673977
TrueBlue Building
1015, A St, Tacoma, WA  98402- Available SQ. FT.
- Building SQ. FT. 173022
- Cap Rate:
- LOT SQ. FT. 20909
- Year Built: 1910
- CBA #: 673960
The Winchester Apartments
605, Denny Way, Seattle, WA  98122- Available SQ. FT. 15325
- Building SQ. FT. 22795
- Cap Rate: 4.69
- LOT SQ. FT. 5196
- Year Built: 1927
- CBA #: 673912
10921 Golden Given Road E
10921, Golden Given Rd, Tacoma, WA  98445- Available SQ. FT. 4494
- Building SQ. FT. 2568
- Cap Rate:
- LOT SQ. FT. 87120
- Year Built: 1962
- CBA #: 673876
14878 6th Avenue NE
14878, 6th Ave, Shoreline, WA  98155- Available SQ. FT. 7440
- Building SQ. FT. 1100
- Cap Rate:
- LOT SQ. FT. 7449
- Year Built: 1942
- CBA #: 673825
Country Lane Apartments
910, Harrison Street, Sunnyside, WA  98944- Available SQ. FT.
- Building SQ. FT. 31500
- Cap Rate:
- LOT SQ. FT. 60984
- Year Built: 1976
- CBA #: 673786
422 Alder Lane
422, Alder Ln, Kent, WA  98030- Available SQ. FT.
- Building SQ. FT. 1980
- Cap Rate:
- LOT SQ. FT. 13809
- Year Built: 2024
- CBA #: 673728
522 Russell Road
522, Russell Rd, Snohomish, WA  98290- Available SQ. FT.
- Building SQ. FT. 1976
- Cap Rate:
- LOT SQ. FT. 11761
- Year Built: 1968
- CBA #: 673726
SeaTac Permitted Townhome Site
2857, 152nd St, SeaTac, WA  98188- Available SQ. FT.
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 64033
- Year Built:
- CBA #: 673690
Fix/Madore Building
1512, Alaskan Way, Seattle, WA  98101- Available SQ. FT. 2010
- Building SQ. FT. 4450
- Cap Rate:
- LOT SQ. FT. 10019
- Year Built: 1910
- CBA #: 673676
Fix/Madore Building
1512, Alaskan Way, Seattle, WA  98101- Available SQ. FT. 2010
- Building SQ. FT. 4450
- Cap Rate:
- LOT SQ. FT. 10019
- Year Built: 1910
- CBA #: 673674
Luxury Valley Townhouses Five-Plex
12402, Broadway Ave, Spokane Valley, WA  99216- Available SQ. FT. 10250
- Building SQ. FT. 10250
- Cap Rate:
- LOT SQ. FT. 23868
- Year Built: 2020
- CBA #: 673541
Callahan Multi-Family Development Site
7, Callahan Ave, Bremerton, WA  98310- Available SQ. FT. 24829
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 24829
- Year Built:
- CBA #: 673537
407 S Holladay Dr.
407, Holladay Dr, Seaside, OR  97138- Available SQ. FT. 19166
- Building SQ. FT. 1152
- Cap Rate:
- LOT SQ. FT. 19108
- Year Built: 1940
- CBA #: 673408
Villa Luisa
1505, 60th St, Seattle, WA  98107- Available SQ. FT.
- Building SQ. FT. 19946
- Cap Rate:
- LOT SQ. FT. 13068
- Year Built: 1927
- CBA #: 673255
Covington Office/Professional Site
0, Wax Rd, Covington, WA  98042- Available SQ. FT. 31363
- Building SQ. FT. 14700
- Cap Rate:
- LOT SQ. FT. 31080
- Year Built: 2019
- CBA #: 673212
2312 North 134th Street
2312, 134th St, Seattle, WA  98133- Available SQ. FT.
- Building SQ. FT. 6450
- Cap Rate: 4.95
- LOT SQ. FT. 7405
- Year Built: 1965
- CBA #: 673031
910 N 95th St
910, 95th St, Seattle, WA  98103- Available SQ. FT. 7581
- Building SQ. FT. 7581
- Cap Rate: 4.90
- LOT SQ. FT. 8102
- Year Built: 1997
- CBA #: 673028
Holly Road Land
6010, Holly Rd, Spokane, WA  99224- Available SQ. FT. 0
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 681278
- Year Built:
- CBA #: 672986
Lot 3 Lofgrin Road
0, Lot 3 Lofgrin Rd, Sequim, WA  98382- Available SQ. FT. 102366
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 102235
- Year Built:
- CBA #: 672968
Sherman Heights Vacant Land
0, Sherman Heights Road, Unknown, WA  98312- Available SQ. FT. 67082
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 67082
- Year Built:
- CBA #: 672934
1213, 1233, 1315 and 1331 Nanto Rd NE
1213, Nanto Rd, Moses Lake, WA  98837- Available SQ. FT.
- Building SQ. FT. 12568
- Cap Rate: 4.68
- LOT SQ. FT. 57499
- Year Built: 2022
- CBA #: 672913
706 2nd Street
706, 2nd St, Cheney, WA  99004- Available SQ. FT.
- Building SQ. FT. 5292
- Cap Rate:
- LOT SQ. FT. 10019
- Year Built: 1999
- CBA #: 672912
Castlereach
1618, 45th St, Seattle, WA  98103- Available SQ. FT. 10216
- Building SQ. FT. 10216
- Cap Rate:
- LOT SQ. FT. 6098
- Year Built: 1926
- CBA #: 672818
Brava
1728, Summit Ave, Seattle, WA  98122- Available SQ. FT.
- Building SQ. FT. 11097
- Cap Rate:
- LOT SQ. FT. 5227
- Year Built: 2018
- CBA #: 672744
3XX SE Myra Rd
300, Myra Rd, College Place, WA  99324- Available SQ. FT. 280091
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 280091
- Year Built:
- CBA #: 672722
Madison Park Place
2925, Madison St, Seattle, WA  98112- Available SQ. FT. 2900
- Building SQ. FT. 300000
- Cap Rate:
- LOT SQ. FT. 40511
- Year Built: 1959
- CBA #: 672709
Madison Park Place
2925, Madison St, Seattle, WA  98112- Available SQ. FT. 26920
- Building SQ. FT. 300000
- Cap Rate:
- LOT SQ. FT. 40511
- Year Built: 1959
- CBA #: 672708
Freeport Apartments
10211, 47th Ave, Tacoma, WA  98499- Available SQ. FT.
- Building SQ. FT. 11084
- Cap Rate:
- LOT SQ. FT. 27443
- Year Built: 1980
- CBA #: 672636
Parkview Apartments
1120, 14th Ave, Seattle, WA  98144- Available SQ. FT. 6424
- Building SQ. FT. 7228
- Cap Rate: 5.26
- LOT SQ. FT. 18731
- Year Built: 1958
- CBA #: 672629
Crouse St Apartments
1701, Crouse St, Moses Lake, WA  98837- Available SQ. FT. 105808
- Building SQ. FT. 107344
- Cap Rate: 4.98
- LOT SQ. FT. 303178
- Year Built: 0
- CBA #: 672573
401 4th Street
401, 4th St, Davenport, WA  99122- Available SQ. FT.
- Building SQ. FT. 3087
- Cap Rate:
- LOT SQ. FT. 14985
- Year Built: 1900
- CBA #: 672441
1127 W Maxwell Ave
1127, Maxwell Ave, Spokane, WA  99201- Available SQ. FT. 2172
- Building SQ. FT. 2172
- Cap Rate:
- LOT SQ. FT. 3790
- Year Built: 1898
- CBA #: 672360
2808 N Cincinnati St
2808, Cincinnati St, Spokane, WA  99207- Available SQ. FT. 22216
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 22216
- Year Built:
- CBA #: 672354
Brutsche
426, Naden Ave, Kent, WA  98032- Available SQ. FT.
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 77101
- Year Built:
- CBA #: 672330
Ninth & Market
901, Market St, Seattle, WA  98107- Available SQ. FT.
- Building SQ. FT. 76608
- Cap Rate:
- LOT SQ. FT. 26489
- Year Built: 2023
- CBA #: 672246
Barton Building
3305, 125 St, Seattle, WA  98125- Available SQ. FT. 3044
- Building SQ. FT. 3044
- Cap Rate:
- LOT SQ. FT. 4400
- Year Built: 1946
- CBA #: 672235
26915 Pacific Highway S
26915, Pacific Hwy, Seattle, WA  98198- Available SQ. FT. 343688
- Building SQ. FT. 1224
- Cap Rate:
- LOT SQ. FT. 343688
- Year Built: 1953
- CBA #: 672229
Kent Des Moines Station Development
0, Pacific Hwy, Kent, WA Â- Available SQ. FT. 294901
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 294901
- Year Built:
- CBA #: 672228
4812/4814 E Fairview Ave
4812, Fairview Ave, Spokane, WA  99217- Available SQ. FT. 2986
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 7492
- Year Built: 2023
- CBA #: 672204
Vista View
2232, Franklin Ave, Seattle, WA  98102- Available SQ. FT. 5616
- Building SQ. FT. 6216
- Cap Rate: 2.21
- LOT SQ. FT. 6534
- Year Built: 1963
- CBA #: 672094
Lorraine Apartments
2236, Franklin Ave, Seattle, WA  98102- Available SQ. FT. 6730
- Building SQ. FT. 6730
- Cap Rate: 2.34
- LOT SQ. FT. 6600
- Year Built: 1901
- CBA #: 672086
Waugh Townhomes Development Site
1515, Waugh Rd, Mount Vernon, WA  98273- Available SQ. FT. 23247
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 12892
- Year Built: 2024
- CBA #: 672030
Old General Store
104, McNaught Rd, Roy, WA  98580- Available SQ. FT. 7835
- Building SQ. FT. 8565
- Cap Rate:
- LOT SQ. FT. 17860
- Year Built: 1910
- CBA #: 672010
Waugh Townhomes Development Site
1515, Waugh Rd, Mount Vernon, WA  98273- Available SQ. FT. 14553
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 12892
- Year Built: 2024
- CBA #: 672008
15809 E 4th Avenue
15809, 4th Ave, Spokane Valley, WA  99037- Available SQ. FT.
- Building SQ. FT. 3408
- Cap Rate:
- LOT SQ. FT. 10890
- Year Built: 2024
- CBA #: 671846
000 NE Midway Blvd
0, Midway Blvd, Oak Harbor, WA  98277- Available SQ. FT. 25265
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 25265
- Year Built:
- CBA #: 671803
9115 Old Highway 99
9115, Old Highway 99, Olympia, WA  98501- Available SQ. FT. 288803
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 288803
- Year Built:
- CBA #: 671722
The Edge Magnolia
2515, Thorndyke Ave, Seattle, WA  98199- Available SQ. FT. 0
- Building SQ. FT. 9420
- Cap Rate: 4.81
- LOT SQ. FT. 10890
- Year Built: 1959
- CBA #: 671553
421 S Chestnut Street
421, Chestnut St, Spokane, WA  99201- Available SQ. FT. 4591
- Building SQ. FT. 4591
- Cap Rate:
- LOT SQ. FT. 9583
- Year Built: 1897
- CBA #: 671241
Barnard
10525, Old McKenna Hwy, Yelm, WA  98597- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 1089000
- Year Built:
- CBA #: 671212
Myra Road Corner
0, Myra Rd, College Place, WA  99324- Available SQ. FT. 259618
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 259618
- Year Built:
- CBA #: 671147
16325 5th Avenue NE - Land
16325, 5th Ave, Shoreline, WA  98155- Available SQ. FT. 112791
- Building SQ. FT. 23900
- Cap Rate:
- LOT SQ. FT. 112820
- Year Built: 1955
- CBA #: 671125
Windmill Park Townhomes
3117, Meridian Avenue, Edgewood, WA  98372- Available SQ. FT. 82792
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 82954
- Year Built: 2022
- CBA #: 671081
Birch Bay Resort Commercial
4817, Alderson Road, Blaine, WA  98230- Available SQ. FT.
- Building SQ. FT. 7200
- Cap Rate:
- LOT SQ. FT. 40511
- Year Built: 1996
- CBA #: 670793
2200 Minor Avenue E
2200, Minor Ave, Seattle, WA  98102- Available SQ. FT.
- Building SQ. FT. 11500
- Cap Rate:
- LOT SQ. FT. 6621
- Year Built: 1967
- CBA #: 670790
1446 East Roy Street
1446, Roy St, Seattle, WA  98112- Available SQ. FT. 7364
- Building SQ. FT. 8282
- Cap Rate: 4.90
- LOT SQ. FT. 6534
- Year Built: 1968
- CBA #: 670757
8261 State Highway 303 NE
8261, State Highway 303, Bremerton, WA  98311- Available SQ. FT. 417305
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 417305
- Year Built:
- CBA #: 670736
8207 State Highway 303 NE
8207, State Highway 303, Bremerton, WA  98311- Available SQ. FT. 417305
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 417305
- Year Built:
- CBA #: 670726
Kittitas Building
116, Main St, Kittitas, WA  98934- Available SQ. FT. 4800
- Building SQ. FT. 4800
- Cap Rate: 5.61
- LOT SQ. FT. 10890
- Year Built: 2008
- CBA #: 670695
1130-1132 NW Market Street
1130, Market St, Seattle, WA  98107- Available SQ. FT.
- Building SQ. FT. 2221
- Cap Rate:
- LOT SQ. FT. 5009
- Year Built: 1954
- CBA #: 670499
Westerner Apartments
4200, Fremont Ave, Seattle, WA  98103- Available SQ. FT. 3584
- Building SQ. FT. 3734
- Cap Rate: 3.66
- LOT SQ. FT. 5227
- Year Built: 1962
- CBA #: 670488
165 Cypress Avenue
165, Cypress Ave, Snohomish, WA  98290- Available SQ. FT. 39640
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 39640
- Year Built:
- CBA #: 670306
The Standard at Fremont
3636, Dayton Ave, Seattle, WA  98103- Available SQ. FT. 9660
- Building SQ. FT. 9660
- Cap Rate: 4.26
- LOT SQ. FT. 10019
- Year Built: 1967
- CBA #: 670108
6 & 10 Dravus Street
10, Dravus St, Seattle, WA  98109- Available SQ. FT. 10620
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 10618
- Year Built: 0
- CBA #: 670086
201 SE Pioneer Way
201, Pioneer Way, Oak Harbor, WA  98277- Available SQ. FT.
- Building SQ. FT. 14940
- Cap Rate:
- LOT SQ. FT. 159430
- Year Built: 1965
- CBA #: 670053
Chinook Ballard
1446, 53rd St, Seattle, WA  98107- Available SQ. FT. 20108
- Building SQ. FT. 20108
- Cap Rate:
- LOT SQ. FT. 217800000
- Year Built: 2023
- CBA #: 669970
1220 N Coach Drive
1220, Coach Dr, Spokane, WA Â- Available SQ. FT.
- Building SQ. FT. 3020
- Cap Rate: 4.84
- LOT SQ. FT. 14680
- Year Built: 2022
- CBA #: 669882
17120 E Boone Avenue
17121, Boone Ave, Spokane, WA Â- Available SQ. FT.
- Building SQ. FT. 3016
- Cap Rate: 4.45
- LOT SQ. FT. 10454
- Year Built: 2023
- CBA #: 669852
4204 S Kenyon Street
4204, Kenyon St, Seattle, WA  98118- Available SQ. FT. 4895
- Building SQ. FT. 1080
- Cap Rate:
- LOT SQ. FT. 3833
- Year Built: 1944
- CBA #: 669567
Samish Flats
3613, Consolidation Ave, Bellingham, WA  98225- Available SQ. FT.
- Building SQ. FT. 38078
- Cap Rate: 3.86
- LOT SQ. FT. 27530
- Year Built: 2021
- CBA #: 669536
S 216th Street - Land
0, 216th St, Des Moines, WA  98198- Available SQ. FT. 34149
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 9069
- Year Built:
- CBA #: 669477
Mason Land
21616, 7th Pl, Des Moines, WA  98198- Available SQ. FT. 34149
- Building SQ. FT. 5734
- Cap Rate:
- LOT SQ. FT. 24989
- Year Built: 2000
- CBA #: 669448
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.