Crouse St Apartments | 1701 Crouse st
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Crouse St Apartments 1701 Crouse st
96 Unit Apartment Building $26,000,000 ($270,833/Unit) 5.53% Cap Rate Moses Lake, WA 98837
Investment Highlights
- Four identical 24-unit, three story apartment buildings plus a central clubhouse
- Closet with washer and dryer
- Community Center includes exercise room
- Patio / balcony for each unit
- Kitchens include quartz countertops, stainless steel appliances and soft close solid cabinets
Executive Summary
New build, four building, 96 unit apartment complex in Moses Lake. Sixteen 1bedroom 1 bath, 48 2 bedroom 2 bath and 32 3 bedroom 2 bath units.
The property is also known as 1842 W Broadway Ave. The property is still under construction with the certificate of occupancy for each building expected between July and November 2024 (see Schedule in OM). Owner /Builder is looking to sell now contingent upon completion of construction.
The builders have engaged Avenue 5 (https://avenue5.com/) as their property manager. Avenue 5 is in the process of preparing a website and pre-leasing. There is already a waitlist for the building.
The property is also known as 1842 W Broadway Ave. The property is still under construction with the certificate of occupancy for each building expected between July and November 2024 (see Schedule in OM). Owner /Builder is looking to sell now contingent upon completion of construction.
The builders have engaged Avenue 5 (https://avenue5.com/) as their property manager. Avenue 5 is in the process of preparing a website and pre-leasing. There is already a waitlist for the building.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $26,000,000 | Apartment Style | Garden |
| Price Per Unit | $270,833 | Building Class | B |
| Sale Type | Investment | Lot Size | 4.13 AC |
| Cap Rate | 5.53% | Construction Status | Under Construction |
| No. Units | 96 | Building Size | 107,344 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2025 |
| Price | $26,000,000 |
| Price Per Unit | $270,833 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| No. Units | 96 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.13 AC |
| Construction Status | Under Construction |
| Building Size | 107,344 SF |
| No. Stories | 3 |
| Year Built | 2025 |
Unit Amenities
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Patio
Site Amenities
- Fitness Center
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | $1,550 | 866 |
| 2+2 | 48 | $1,750 | 1,137 |
| 3+2 | 32 | $1,900 | 1,168 |
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zoning
| Zoning Code | R-3 (Multifamily Residential) |
| R-3 (Multifamily Residential) |
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Crouse St Apartments | 1701 Crouse st
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