808 I Street Auburn, WA 98002 – Cambridge Lane Apartments

Cambridge Lane Apartments (Status: Pending) 5450000

808, I Street, Auburn, WA  98002

We are pleased to present Cambridge Lane Apartments, a well-maintained 24-unit single story fourplex community constructed in 1968, located at 808-908 I Street NE, Auburn, WA 98002. The property is in excellent condition and has recently received interior renovations to sixteen of the units, as well as exterior improvements that include new roofs on half of the buildings. However, there is still significant upside in the asset for a new owner who can take advantage of raising the rents an average of $200/unit, to reach market rents in the area, as well as increasing the monthly utility bill-back to increase the current EGI by an estimated 14%. This well positioned property presents an excellent opportunity for investors seeking a high-quality asset with current upside and long-term potenti

Listing Details

Asset Class: Multi-Family
Year Built: 1967
Building Total Square Feet: 17944
Available Lease Space Square Feet:
Number of Floors: 1
Total Parking Spaces: 0
Local Zoning Information: R-20

Listing Courtesy of: Marcus & Millichap, Inc.

Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, LLC and should be verified by the tenant or buyer.