We are pleased to present Miller's Edge, a 14-unit multifamily portfolio in central Wenatchee spread across five separate parcels: three duplexes at 120, 210 and 214 N Miller St (210 and 214 are adjacent) and two adjacent fourplexes at 314 and 320 N Emerson Ave. Built between 1984 and 1988,… Read More the portfolio offers spacious two-bedroom floorplans, with eight 2 bed/1 bath units of approximately 1,000 to 1,200 SF and six 2 bed/1.5 bath units of approximately 1,200 SF, totaling approximately 16,000 net rentable SF, plus 14 carport spaces.The portfolio is 100% occupied and offered at $2,750,000 (approx. $196,000 per unit and $172 per SF), a 5.98% in-place cap rate and 9.75 GRM. Current rents average approximately $1,679 per unit against market rents of approximately $1,744, and a utility bill-back (RUBS) program offers additional income upside.Centrally located with convenient access to regional employment centers, schools, retail amenities and outdoor recreation, the properties benefit from Wenatchee's limited housing supply and steady rental demand. Sale is by a court-appointed receiver and subject to court approval. Read Less
Listing courtesy of Northmarq Multifamily, LLC
Listing Snapshot
Cumulative Days Active
11
Last Updated
Property Type
Multi Family
Square Ft.
16,000
Lot Size
0.91 Acres
Year Built
1984
Property Tax
$19,469
MLS Number
2598658
Additional Details
Building
Built in 1984, Built in 1984 (effective), 2 stories, Construction Materials: Wood
Cooling
Forced Air
Expenses
Insurance: $10,150, Other Expense: $54,493.2
Exterior Features
Wood
Foundation
Poured Concrete
Heating
Forced Air
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $282,120, Net Operating Income: $164,356
Lot
0.91 acres, Paved, Sidewalk
Parking
14 carport spaces, 14 covered spaces, 14 total parking spaces
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listings last updated on ,
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