Description
Eastwood Apartments has been under current ownership for over two decades, recently undergoing an extensive 7-figure exterior renovation and partial interior renovation over the last two years. Additional upside remains through modernizing all unit interiors to obtain the highest return on cost. Operational upside can be found through a widespread marketing approach, allowing pets to widen the tenant pool, charging for storage units and parking, and increasing RUBS from about a 50% recapture rate to 85%+. Additionally, there is a large non-conforming unit on the ground level that has the potential to be legitimized, or rented out for other use.
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0BEDS
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0.54ACRES
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0BATHS
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01/2 BATHS
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11,590SQFT
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$466$/SQFT
School Information
Listing information ©2023 Northwest MLS. Listing courtesy of Lee & Associates Commercial Re.
Sold by .Description
Eastwood Apartments has been under current ownership for over two decades, recently undergoing an extensive 7-figure exterior renovation and partial interior renovation over the last two years. Additional upside remains through modernizing all unit interiors to obtain the highest return on cost. Operational upside can be found through a widespread marketing approach, allowing pets to widen the tenant pool, charging for storage units and parking, and increasing RUBS from about a 50% recapture rate to 85%+. Additionally, there is a large non-conforming unit on the ground level that has the potential to be legitimized, or rented out for other use.
The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Tribeca NW Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2023-03-25T00:16:42.013. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market". Based on information submitted to the MLS GRID as of 2023-03-25T00:16:42.013. 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.