Windjammer — Sale in Ocean Shores, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Ocean Shores, WA 98569

Investment Figures

Cap rate
6.90%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Built in 1984, the Windjammer is a Four-building, and twenty-eight-unit community centrally located in Ocean Shores, WA. Directly in the middle of the Ocean Shores Golf Course. Windjammer is an attractive community for families and local workers. From a tenant’s perspective, proximity to the beach, golf course and other attractions make this a great place to call home. Windjammer, the largest market-rate apartment community in Ocean Shores, consists of six studios; twelve one-bedroom, one-bathroom; ten two-bedroom, one-bathroom units averaging 655 square feet. Each unit features modern kitchen appliances, and a private deck or fenced backyard. At a purchase price of $3,950,000, Windjammer offers outstanding yield for an incoming investor to be able to achieve over 10% cash on cash return in year one. Windjammer is an incredible opportunity to own in a market that has low competition. Investment Highlights: • High-Yield Opportunity - Incoming buyer can easily achieve over a 10% total return in year one of ownership. • Largest Apartment in Ocean Shores - Opportunity to hold the largest percentage of rental housing in a low competition market. You control the market! • Major System Upgrades - Roofs have been redone, as well as electrical systems and panel updates. Making this a highly insurable and safe property.

Market Context

This multifamily in Ocean Shores, WA is listed for sale. It is offered at an approximate 6.9% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 86 days. Compare it against other multifamily listings for sale in Ocean Shores, WA — view the full market.

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