The Terrace | 201 S Palouse St
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The Terrace 201 S Palouse St
7 Unit Apartment Building $1,800,000 ($257,143/Unit) 5.82% Cap Rate Walla Walla, WA 99362
Investment Highlights
- Meticulously renovated in 2022-23, including extensive interior and exterior improvements totaling more than $642K
- Each unit features two stories, with two bedrooms and a full bath upstairs. Main floor includes a kitchen, living room, laundry area, and a half-bath
- Additional income upside through charging monthly parking and storage unit rent
- All units are fully equipped with stainless steel appliances, granite countertops, and modern fixtures
- All units have covered parking with direct access to a private, fenced-in backyard
- Conveniently located just steps away from Walla Walla's vibrant downtown and Whitman College's campus
Executive Summary
Introducing The Terrace, a fully renovated turkey asset located at 201 S Palouse St, in the heart of Walla Walla. Recently renovated in 2022, this property boasts meticulous upgrades both inside and out, offering a luxury living experience. Featuring 7 units, each with two bedrooms and upscale finishes including stainless steel appliances and granite countertops, this property offers an attractive investment opportunity with a current income/market exp cap of 5.82%. Noteworthy is the potential for additional income by renting out parking and storage units. Conveniently situated near downtown Walla Walla and Whitman College, The Terrace offers a prime location. Each unit has a townhouse-style layout with covered parking and a private backyard. Don't miss this chance to own a modern and income-generating property in a sought-after area!
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Property Facts
| Price | $1,800,000 | Apartment Style | Garden |
| Price Per Unit | $257,143 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 5.82% | Building Size | 6,930 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1961/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.88/1,000 SF |
| Price | $1,800,000 |
| Price Per Unit | $257,143 |
| Sale Type | Investment |
| Cap Rate | 5.82% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 6,930 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2022 |
| Parking Ratio | 1.88/1,000 SF |
Unit Amenities
- Storage Space
- Washer/Dryer
- Granite Countertops
- Stainless Steel Appliances
- Yard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 7 | - | 990 |
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Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 360720750008 | Improvements Assessment | $895,500 |
| Land Assessment | $86,600 | Total Assessment | $982,100 |
PROPERTY TAXES
Parcel Number
360720750008
Land Assessment
$86,600
Improvements Assessment
$895,500
Total Assessment
$982,100
zoning
| Zoning Code | RM |
| RM |
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Chad Blenz -
Berkadia
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The Terrace | 201 S Palouse St
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