Apartment niches in 1-hour radius of Seattle

[Tim James]

Hello BP community, 

I'm putting out some feelers in the Seattle area, wondering what opportunities exist within an hour of the city for apartments 12-16 units. 

My goal is to invest in 1 apartment building per year, and I'm trying to zero in on a specific region where I could achieve that for approx. $400-$600,000/property.

Thoughts on this?

Top priority is to meet some great BP'ers here & learn as much as possible from people who know and love the area.

[Enrique Jevons]

Hello Tim,

I have 3 properties that might fit your criteria.  One is $349,900 for an 8 unit apartment complex in decent shape.  Gross rents are $3,900.  The 2nd is $375,000 for an 11 unit property that needs a lot of work.  Gross rents are $5,445.  Last is $575,997 for a tri-plex, built in 2007, in excellent shape in a good neighborhood. Gross rents are $3,330.

All located in Yakima where I manage over 600 units.  Feel free to reach out to me if any are of interest.