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.
Milano Apartments
1019, Burwell St, Bremerton, WA  98337- Available SQ. FT. 13938
- Building SQ. FT. 13938
- Cap Rate:
- LOT SQ. FT. 13794
- Year Built: 1916
- CBA #: 680185
2939 SE Maple Street
2939, Maple St, Port Orchard, WA  98366- Available SQ. FT.
- Building SQ. FT. 2252
- Cap Rate: 5.02
- LOT SQ. FT. 55785
- Year Built: 1994
- CBA #: 680151
2304 Michigan Street
2304, Michigan St, Bellingham, WA  98229- Available SQ. FT. 2416
- Building SQ. FT. 2416
- Cap Rate:
- LOT SQ. FT. 8276
- Year Built: 1989
- CBA #: 679666
Auburn 4-Plex
952, 28 St, Auburn, WA  98002- Available SQ. FT. 3756
- Building SQ. FT. 4400
- Cap Rate: 5.68
- LOT SQ. FT. 8799
- Year Built: 1977
- CBA #: 679542
Triplex
5839, 5th Ave, Seattle, WA  98107- Available SQ. FT.
- Building SQ. FT. 2890
- Cap Rate: 4.64
- LOT SQ. FT. 4792
- Year Built: 1959
- CBA #: 679248
728 W Ruby St
728, Ruby St, Pasco, WA  99301- Available SQ. FT.
- Building SQ. FT. 3696
- Cap Rate:
- LOT SQ. FT. 15878
- Year Built: 1977
- CBA #: 679152
314 E Mercer Street
314, Mercer St, Seattle, WA  98102- Available SQ. FT. 4595
- Building SQ. FT. 4595
- Cap Rate: 5.00
- LOT SQ. FT. 2396
- Year Built: 1909
- CBA #: 679124
Springbrook Trout Farm
19223, Talbot Rd, Renton, WA  98055- Available SQ. FT. 7917
- Building SQ. FT. 7917
- Cap Rate:
- LOT SQ. FT. 247490
- Year Built: 1958
- CBA #: 679117
5648 Foothill Blvd
5648, Foothill Blvd, Rogue River, OR  97537- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 2509056
- Year Built:
- CBA #: 679114
807 6th Avenue N
807, 6th Ave, Seattle, WA  98109- Available SQ. FT.
- Building SQ. FT. 3102
- Cap Rate: 4.04
- LOT SQ. FT. 4792
- Year Built: 1907
- CBA #: 679077
3429 Wetmore Avenue
3429, Wetmore Ave, Everett, WA  98201- Available SQ. FT. 8590
- Building SQ. FT. 8590
- Cap Rate: 3.77
- LOT SQ. FT. 9148
- Year Built: 2007
- CBA #: 679047
Admiralty Way 4-Plex
15702, Admiralty Way, Lynnwood, WA  98087- Available SQ. FT. 4128
- Building SQ. FT. 4128
- Cap Rate: 3.58
- LOT SQ. FT. 13504
- Year Built: 1987
- CBA #: 679044
Crown View Apartments
319, 105th St, Seattle, WA  98133- Available SQ. FT. 3788
- Building SQ. FT. 3788
- Cap Rate: 5.27
- LOT SQ. FT. 4900
- Year Built: 1960
- CBA #: 679018
514 8th Street NE
514, 8 St, Auburn, WA  98002- Available SQ. FT.
- Building SQ. FT. 6777
- Cap Rate: 3.39
- LOT SQ. FT. 17032
- Year Built: 1989
- CBA #: 678983
1857 NW 195th Street
1857, 195th St, Shoreline, WA  98177- Available SQ. FT. 1240
- Building SQ. FT. 1240
- Cap Rate:
- LOT SQ. FT. 15507
- Year Built: 1958
- CBA #: 678895
Cambridge Apartments
201, F St, Aberdeen, WA  98520- Available SQ. FT.
- Building SQ. FT. 7442
- Cap Rate: 4.51
- LOT SQ. FT. 6534
- Year Built: 1925
- CBA #: 678779
6400 Pacific Avenue
6400, Pacific Ave, Tacoma, WA  98408- Available SQ. FT. 17250
- Building SQ. FT. 6721
- Cap Rate:
- LOT SQ. FT. 17249
- Year Built: 1946
- CBA #: 678641
418 E Mission
418, Mission Ave, Spokane, WA  99202- Available SQ. FT.
- Building SQ. FT. 6000
- Cap Rate:
- LOT SQ. FT. 6970
- Year Built: 1905
- CBA #: 678548
203 - 207 N 38th Avenue
203, 38th Ave, Yakima, WA  98902- Available SQ. FT. 3192
- Building SQ. FT. 3192
- Cap Rate: 3.19
- LOT SQ. FT. 13939
- Year Built: 1974
- CBA #: 678515
11015 Woodinville Drive
11015, Woodinville Dr, Bothell, WA  98011- Available SQ. FT. 5368
- Building SQ. FT. 5368
- Cap Rate: 3.70
- LOT SQ. FT. 12101
- Year Built: 2007
- CBA #: 678504
715 N Nob Hill Avenue
715, Nob Hill Ave, Seattle, WA  98109- Available SQ. FT. 8811
- Building SQ. FT. 10148
- Cap Rate:
- LOT SQ. FT. 7680
- Year Built: 1974
- CBA #: 678435
15529 - 15531 Grant Avenue SW
15529, Grant Ave, Lakewood, WA  98498- Available SQ. FT.
- Building SQ. FT. 1480
- Cap Rate: 2.74
- LOT SQ. FT. 13983
- Year Built: 1910
- CBA #: 678390
Ridgecrest Apartments
2652, 15th Ave, Kennewick, WA  99337- Available SQ. FT. 0
- Building SQ. FT. 81330
- Cap Rate: 5.61
- LOT SQ. FT. 168577
- Year Built: 2023
- CBA #: 678231
1806 16th Avenue
1806, 16th Ave, Seattle, WA  98122- Available SQ. FT.
- Building SQ. FT. 3325
- Cap Rate: 3.66
- LOT SQ. FT. 4966
- Year Built: 1906
- CBA #: 678208
6710 Roosevelt Way Northeast
6710, Roosevelt Way, Seattle, WA  98115- Available SQ. FT. 399880800
- Building SQ. FT. 235789
- Cap Rate:
- LOT SQ. FT. 9155
- Year Built: 2024
- CBA #: 678155
XX S 3rd Avenue
0, 3rd Ave, Everett, WA  98203- Available SQ. FT. 10019
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 10670
- Year Built:
- CBA #: 678032
Fourplex
5312, 188th St, Lynnwood, WA  98037- Available SQ. FT. 3968
- Building SQ. FT. 3968
- Cap Rate:
- LOT SQ. FT. 13068
- Year Built: 1968
- CBA #: 677973
14302 E 13th Avenue
14302, 13th Ave, Spokane, WA  99037- Available SQ. FT.
- Building SQ. FT. 11904
- Cap Rate: 6.03
- LOT SQ. FT. 39089
- Year Built: 2022
- CBA #: 677970
Veldyke Building
4501, Lucile St, Seattle, WA  98118- Available SQ. FT.
- Building SQ. FT. 4419
- Cap Rate:
- LOT SQ. FT. 4792
- Year Built: 1962
- CBA #: 677903
3003 N Napa Street
3003, Napa St, Spokane, WA  99207- Available SQ. FT. 6492
- Building SQ. FT. 6512
- Cap Rate: 5.56
- LOT SQ. FT. 8276
- Year Built: 2021
- CBA #: 677861
Burke House Apartments
4120, Burke Avenue, Seattle, WA  98103- Available SQ. FT. 0
- Building SQ. FT. 5332
- Cap Rate: 4.56
- LOT SQ. FT. 9453
- Year Built: 1919
- CBA #: 677840
UW 17th Ave NE Development Site
4740, 17th Ave, Seattle, WA  98105- Available SQ. FT.
- Building SQ. FT. 34560
- Cap Rate:
- LOT SQ. FT. 12960
- Year Built:
- CBA #: 677739
Park Place
1225, Casino Rd, Everett, WA  98204- Available SQ. FT. 0
- Building SQ. FT. 28450
- Cap Rate:
- LOT SQ. FT. 70132
- Year Built: 1978
- CBA #: 677489
17121 Bothell Way NE
17121, Bothell Way, Bothell, WA  98011- Available SQ. FT. 4508
- Building SQ. FT. 4508
- Cap Rate:
- LOT SQ. FT. 43628
- Year Built: 1916
- CBA #: 677392
Parc Sprague Apartments
15917, Sprague Ave, Spokane Valley, WA  99037- Available SQ. FT. 38345
- Building SQ. FT. 39245
- Cap Rate:
- LOT SQ. FT. 101059
- Year Built: 1979
- CBA #: 677376
2123 9th Avenue Southwest
2123, 9th Ave, Olympia, WA  98502- Available SQ. FT. 101495
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 101495
- Year Built: 0
- CBA #: 677173
1937 E Wilson Lane
1937, Wilson Ln, Meridian, ID  83642- Available SQ. FT. 3496
- Building SQ. FT. 3496
- Cap Rate:
- LOT SQ. FT. 4966
- Year Built: 2003
- CBA #: 677135
31224-31240 28th Avenue S
31224, 28th Ave, Federal Way, WA  98003- Available SQ. FT. 41236
- Building SQ. FT. 2540
- Cap Rate:
- LOT SQ. FT. 41208
- Year Built: 1961
- CBA #: 677095
California Court
6900, California Ave, Seattle, WA  98136- Available SQ. FT. 18360
- Building SQ. FT. 18360
- Cap Rate: 4.84
- LOT SQ. FT. 17860
- Year Built: 1990
- CBA #: 677055
7919 Wallingford Avenue N
7919, Wallingford Ave, Seattle, WA  98103- Available SQ. FT.
- Building SQ. FT. 8800
- Cap Rate:
- LOT SQ. FT. 8320
- Year Built: 1969
- CBA #: 676810
Campus Village Apartments
925, 18th Ave, Ellensburg, WA  98926- Available SQ. FT.
- Building SQ. FT. 31992
- Cap Rate:
- LOT SQ. FT. 98010
- Year Built: 1966
- CBA #: 676644
6648 Littlerock Road SW
6648, Littlerock Rd, Tumwater, WA  98512- Available SQ. FT. 6360
- Building SQ. FT. 6360
- Cap Rate:
- LOT SQ. FT. 35284
- Year Built: 1981
- CBA #: 676532
1119C & 1119D 14th Ave Duplex
1119, 14th Ave, Seattle, WA  98122- Available SQ. FT. 1932
- Building SQ. FT. 1900
- Cap Rate: 3.80
- LOT SQ. FT. 1230
- Year Built: 2020
- CBA #: 676516
1117A & 1117B 14th Ave Duplex
1117, 14th Ave, Seattle, WA  98122- Available SQ. FT. 1932
- Building SQ. FT. 1900
- Cap Rate: 3.81
- LOT SQ. FT. 1524
- Year Built: 2020
- CBA #: 676515
3206 S Gillis Court
3206, Gillis Ct, Spokane Valley, WA  99206- Available SQ. FT. 3240
- Building SQ. FT. 3240
- Cap Rate:
- LOT SQ. FT. 18295
- Year Built: 1978
- CBA #: 676336
1036 E Desmet Avenue
1036, Desmet Ave, Spokane, WA  99202- Available SQ. FT.
- Building SQ. FT. 5967
- Cap Rate:
- LOT SQ. FT. 8581
- Year Built: 1978
- CBA #: 676320
Multi-Family Portfolio
3204, Gillis Ct, Spokane Valley, WA  99206- Available SQ. FT. 6422
- Building SQ. FT. 6422
- Cap Rate:
- LOT SQ. FT. 45279
- Year Built: 1984
- CBA #: 676260
Multi-Family Portfolio
3204, Gillis Ct, Spokane Valley, WA  99206- Available SQ. FT. 3182
- Building SQ. FT. 6422
- Cap Rate:
- LOT SQ. FT. 45279
- Year Built: 1984
- CBA #: 676259
1418 NW 70th Street
1418, 70th St, Seattle, WA  98117- Available SQ. FT. 1946
- Building SQ. FT. 1946
- Cap Rate:
- LOT SQ. FT. 2875
- Year Built: 1926
- CBA #: 676119
12333 33rd Avenue NE
12333, 33rd Ave, Seattle, WA  98125- Available SQ. FT. 9580
- Building SQ. FT. 10986
- Cap Rate:
- LOT SQ. FT. 9900
- Year Built: 1967
- CBA #: 676029
1457 22nd Avenue
1457, 22nd Ave, Seattle, WA  98122- Available SQ. FT. 7620
- Building SQ. FT. 5080
- Cap Rate:
- LOT SQ. FT. 5097
- Year Built: 1925
- CBA #: 675823
Saratoga Townhomes
8020, Mukilteo Speedway, Mukilteo, WA  98275- Available SQ. FT. 22800
- Building SQ. FT. 22800
- Cap Rate: 5.71
- LOT SQ. FT. 69260
- Year Built: 1978
- CBA #: 675768
1100 Alki Avenue SW
1100, Alki Ave, Seattle, WA  98116- Available SQ. FT. 10041
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 10011
- Year Built: 0
- CBA #: 675475
612 W Sharp Avenue
612, Sharp Ave, Spokane, WA  99201- Available SQ. FT.
- Building SQ. FT. 3812
- Cap Rate:
- LOT SQ. FT. 8276
- Year Built: 1954
- CBA #: 675459
1424 S J Street
1424, J St, Tacoma, WA  98405- Available SQ. FT. 1660
- Building SQ. FT. 1660
- Cap Rate:
- LOT SQ. FT. 6490
- Year Built: 2002
- CBA #: 675457
2708 E 31st Avenue
2708, 31 Ave, Spokane, WA  99223- Available SQ. FT. 1940
- Building SQ. FT. 1940
- Cap Rate:
- LOT SQ. FT. 6839
- Year Built: 1950
- CBA #: 674604
Norton Apartments
1201, Pacific Ave, Everett, WA  98201- Available SQ. FT. 0
- Building SQ. FT. 9511
- Cap Rate:
- LOT SQ. FT. 14375
- Year Built: 1894
- CBA #: 674536
Bollinger Building
805, 6th Ave., Lewiston, ID  83501- Available SQ. FT.
- Building SQ. FT. 11456
- Cap Rate:
- LOT SQ. FT. 10542
- Year Built:
- CBA #: 674420
51/15 Ballard Development Site
5011, 15th Ave, Seattle, WA  98107- Available SQ. FT.
- Building SQ. FT. 29220
- Cap Rate:
- LOT SQ. FT. 9607
- Year Built: 2024
- CBA #: 674298
Park Hill Apartments
1305, Madison St, Seattle, WA  98122- Available SQ. FT. 30236
- Building SQ. FT. 30236
- Cap Rate: 5.72
- LOT SQ. FT. 12458
- Year Built: 1907
- CBA #: 674277
601 N K Street
601, K St, Tacoma, WA  98403- Available SQ. FT. 3840
- Building SQ. FT. 3840
- Cap Rate: 7.18
- LOT SQ. FT. 6490
- Year Built: 1905
- CBA #: 674167
Gilman Apartments
4403, Gilman Ave, Seattle, WA  98199- Available SQ. FT.
- Building SQ. FT. 6080
- Cap Rate:
- LOT SQ. FT. 17510
- Year Built: 1952
- CBA #: 673850
TBD Warbonnet Dr
0, A Street, Moscow, ID  83843- Available SQ. FT. 435600
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 435600
- Year Built:
- CBA #: 673727
West Dravus Apartments
7, Dravus St, Seattle, WA  98119- Available SQ. FT. 5486
- Building SQ. FT. 5486
- Cap Rate: 6.04
- LOT SQ. FT. 4792
- Year Built: 1924
- CBA #: 673677
202 South Street
202, St, Centralia, WA  98531- Available SQ. FT. 43560
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 43227
- Year Built:
- CBA #: 673628
15001 Woodbrook Drive
15001, Woodbrook Dr, Lakewood, WA  98439- Available SQ. FT.
- Building SQ. FT. 6720
- Cap Rate: 5.53
- LOT SQ. FT. 40075
- Year Built: 2018
- CBA #: 673360
315 12th Avenue E
315, 12 Ave, Seattle, WA  98102- Available SQ. FT.
- Building SQ. FT. 4587
- Cap Rate:
- LOT SQ. FT. 6011
- Year Built: 1928
- CBA #: 673357
Capitol Hill Redevelopment
1520, 13th Avenue, Seattle, WA  98122- Available SQ. FT. 22800
- Building SQ. FT. 23040
- Cap Rate:
- LOT SQ. FT. 22826
- Year Built: 1920
- CBA #: 672971
Salish Gardens
142, Arcadia Terrace, Port Townsend, WA  98368- Available SQ. FT. 24000
- Building SQ. FT. 29800
- Cap Rate:
- LOT SQ. FT. 214315
- Year Built: 1997
- CBA #: 672920
Violet Meadows
11424, A St, Tacoma, WA  98444- Available SQ. FT.
- Building SQ. FT. 12950
- Cap Rate:
- LOT SQ. FT. 27443
- Year Built: 1995
- CBA #: 672879
2010 N 78th Street
2010, 78th St, Seattle, WA  98103- Available SQ. FT. 3700
- Building SQ. FT. 3740
- Cap Rate:
- LOT SQ. FT. 3920
- Year Built: 1992
- CBA #: 672810
Pioneer Tacoma Portfolio
309, 9 St, Tacoma, WA  98402- Available SQ. FT. 45048
- Building SQ. FT. 45048
- Cap Rate:
- LOT SQ. FT. 18950
- Year Built: 1919
- CBA #: 672808
Turning Leaf Townhomes
20, Pineridge Ct, Spokane, WA  99208- Available SQ. FT. 16800
- Building SQ. FT. 16800
- Cap Rate:
- LOT SQ. FT. 40162
- Year Built: 1988
- CBA #: 672724
Beverly Heights
618, 75th St, Everett, WA  98203- Available SQ. FT. 0
- Building SQ. FT. 18125
- Cap Rate:
- LOT SQ. FT. 29621
- Year Built: 1969
- CBA #: 672230
22007 116th Avenue SE
22007, 116th Ave, Kent, WA  98031- Available SQ. FT. 274428
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 274428
- Year Built: 0
- CBA #: 672181
Kent Multi-Family Development Lots
923, Concord St, Kent, WA  98032- Available SQ. FT. 33106
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 33751
- Year Built:
- CBA #: 672157
Catherine Court
4528, 20th Ave, Seattle, WA  98105- Available SQ. FT. 5952
- Building SQ. FT. 5952
- Cap Rate: 0.59
- LOT SQ. FT. 3920
- Year Built: 1964
- CBA #: 672144
Rebecca Properties Portfolio
1008, Rebecca St, Spokane, WA  99202- Available SQ. FT. 10956
- Building SQ. FT. 10956
- Cap Rate:
- LOT SQ. FT. 28386
- Year Built: 1940
- CBA #: 672108
335 Division Street NW
335, Division St, Olympia, WA  98502- Available SQ. FT. 10338
- Building SQ. FT. 10338
- Cap Rate: 6.14
- LOT SQ. FT. 36127
- Year Built: 1947
- CBA #: 671933
Bayswater Apartments
2628, Cascade Pl, University Place, WA  98466- Available SQ. FT.
- Building SQ. FT. 22500
- Cap Rate:
- LOT SQ. FT. 60984
- Year Built: 1976
- CBA #: 671592
Junction 160
16100, Linden Ave, Seattle, WA  98133- Available SQ. FT.
- Building SQ. FT. 43396
- Cap Rate:
- LOT SQ. FT. 59242
- Year Built: 1979
- CBA #: 670965
Knoblock Apartments
700, 5th St, Dayton, WA  99328- Available SQ. FT.
- Building SQ. FT. 26299
- Cap Rate:
- LOT SQ. FT. 62204
- Year Built: 2000
- CBA #: 670223
Salmon Creek Apartments
5011, 157th Ave CT, Sumner, WA  98390- Available SQ. FT.
- Building SQ. FT. 6720
- Cap Rate: 5.67
- LOT SQ. FT. 23958
- Year Built: 1989
- CBA #: 670100
Downtown Marysville Townhomes
95, Quinn Ave, Marysville, WA  98270- Available SQ. FT.
- Building SQ. FT. 4800
- Cap Rate: 4.53
- LOT SQ. FT. 9008
- Year Built: 1979
- CBA #: 670083
Everett Restaurant
1629, Center Rd, Everett, WA  98204- Available SQ. FT.
- Building SQ. FT. 3950
- Cap Rate:
- LOT SQ. FT. 57064
- Year Built: 1980
- CBA #: 669087
Multi-Family Development Land
233, 47 St, Garden City, ID  83714- Available SQ. FT. 89734
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 89974
- Year Built:
- CBA #: 668870
Multifamily Redevelopment Land
0, Undisclosed, Everett, WA  98201- Available SQ. FT. 114127
- Building SQ. FT. 10000
- Cap Rate:
- LOT SQ. FT. 114127
- Year Built: 1988
- CBA #: 668808
The Cedars
4410, 176th St, Lynnwood, WA  98037- Available SQ. FT. 12110
- Building SQ. FT. 12480
- Cap Rate:
- LOT SQ. FT. 30492
- Year Built: 1967
- CBA #: 668637
2824 E Everett Avenue
2824, Everett Ave, Spokane, WA  99217- Available SQ. FT. 5184
- Building SQ. FT. 5184
- Cap Rate:
- LOT SQ. FT. 9148
- Year Built: 1972
- CBA #: 668433
78th Street Apartments
2008, 78th St, Seattle, WA  98103- Available SQ. FT. 7700
- Building SQ. FT. 7700
- Cap Rate: 3.69
- LOT SQ. FT. 4992
- Year Built: 1955
- CBA #: 667888
25 North Airport Road
25, Airport Rd, Deer Park, WA  99006- Available SQ. FT. 6276
- Building SQ. FT. 6276
- Cap Rate:
- LOT SQ. FT. 29621
- Year Built: 1995
- CBA #: 667599
Ash Creek Apartments
1420, 112th St, Tacoma, WA  98444- Available SQ. FT.
- Building SQ. FT. 8177
- Cap Rate:
- LOT SQ. FT. 99317
- Year Built: 1954
- CBA #: 666984
1600 N 45th Street
1600, 45th St, Seattle, WA  98103- Available SQ. FT.
- Building SQ. FT. 5281
- Cap Rate: 5.10
- LOT SQ. FT. 5881
- Year Built: 1955
- CBA #: 666948
NE 185th Street Land
0, 185th St, Woodinville, WA Â- Available SQ. FT. 480902
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 481120
- Year Built:
- CBA #: 666919
3701 Highway 16
3701, Hwy 16, Eagle, ID  83616- Available SQ. FT. 1132560
- Building SQ. FT. 3201
- Cap Rate:
- LOT SQ. FT. 701316
- Year Built: 1974
- CBA #: 666167
Townhomes at Fern Hill
8839, Pacific Ave, Tacoma, WA  98444- Available SQ. FT.
- Building SQ. FT. 23634
- Cap Rate:
- LOT SQ. FT. 23240
- Year Built:
- CBA #: 664713
1002 E Republican St
1002, Republican St, Seattle, WA  98102- Available SQ. FT. 2330
- Building SQ. FT. 2330
- Cap Rate:
- LOT SQ. FT. 3006
- Year Built: 1905
- CBA #: 664698
212xx Cypress Way
212, Cypress Way, Lynnwood, WA  98036- Available SQ. FT. 298822
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 300358
- Year Built:
- CBA #: 664284
E Bakerview Rd
930, Bakerview Rd, Bellingham, WA  98226- Available SQ. FT.
- Building SQ. FT. 1248
- Cap Rate:
- LOT SQ. FT. 601564
- Year Built: 1957
- CBA #: 663684
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.