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W. RICHLAND 3695 Fargo Street • West Richland, WA 99353

TERESA ROBLES503.546.4533trobles@melvinmark.comLicensed in OR & WA

FOR SALEMelvin Mark Brokerage Co.111 Southwest ColumbiaPort land, Oregon 97201 P: 503.223.9203melvinmark.com

FOUR-PLEXExclusively at $525,000

01 . THE PROPERTY

02 . NEIGHBORHOOD PROFILE

03 . PROPERTY F INANCIALS

04 . PROFILE

I NDE X

The Property

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Property Highlights

This spacious and affordable 2BD/1BA West Richland apartments are move-in ready and won’t last long. This newly updated apartment complex is located in a quiet, peaceful neighborhood close to the bypass/Hanford and Kadlec.

• In 2015, a new 30 year roof and gutter system was added

• In 2018, kitchens were updated as well as new flooring and carpeting, a

private fenced yard, off-street parking, and washer/dryer hookups

• In 2019, all new vinyl siding was added

The Units

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Unit Features Unit A• New kitchen countertops, sinks, resurfaced cupboards with new

hardware and new dishwasher

• New through the wall 18500 BTU AC with heat (2017)

• New sub-flooring and vinyl plank flooring (2018)

• Newer carpet in bedrooms (2015)

Unit B & C• New countertops and resurfaced kitchen cabinets

• Retextured ceiling

• New through the wall 18500 BTU AC with heat (2018)

Unit D• New vinyl flooring and base board trim throughout (2018)

• New kitchen cabinents, counter tops, and faucet

• AC with forced air wall heater for supplemental heat

• New carpet in bedrooms, closet doors and ceiling fans

• Bathroom includes new 36’ vanity

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Unit D

Full Bathroom

New f looring throughout Exterior

*Pictures are of similar units and f loor plans but may not be the actual units for sale in this listing.

Neighborhood Profile

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Attractive Area Features:• Three Golf Courses within 6 miles including:

- Buckskin Golf Club, Horn Rapids Golf Course,

Columbia Point Golf Course

• West Richland Police Department only .3 miles away

• Multiple parks within 5 miles

• Bechtel, PNNL, and Batelle all within a few miles

• Near fishing and recreational water sports on the Yakima &

Columbia River

• Dozens of wineries less than 20 minutes away

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W. RICHLAND

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W. RICHLAND

Financials

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Investment Summary for W. Richland

SUMMARY

Price $525,000

Number of Units 4

Monthly Gross Rents $3,400

Rentable SqFt 3,240

Lot Size .43 Acres

RETURNSEstimated:

NOI

CAP Rate at

CURRENT

$28,656

5.3% $525,000

CURRENT EXPENSES

Taxes and Insurance

Landscaping

TOTAL

Property Mgmt. 5%

TOTAL EXPENSES

$8,222

$1,920 (current contract $160/month)

$10,140 (annual)

$2,004

$12,144

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Rent Roll W. Richland (AS OF SEPTEMBER 2019)

Unit

A

B

C

D

TOTAL (Estimated)

ANNUALLY (Gross Rents)

Unit Type

Two Bedroom/One Bathroom

Two Bedroom/One Bathroom

Two Bedroom/One Bathroom

Two Bedroom/One Bathroom

Square Feet

810

810

810

810

3,240

Current Rent /Mo.

$875 (asking)

$790

$790

$895 + $50/month pet fee

$3,400

$40,800

Additional Info

Interest and recent tour activity.

Current tenant in unit 4+ years, market value in current condition $825-$840, with some updated flooring/misc. $875-$895.

Current tenant in unit 4+ years, market value in current condition $825-840, with some updated flooring/misc. $875-$895.

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TERESA ROBLES B R O K E R

503.546.4533 / trobles@melvinmark.com

- C L O S E D D E A L S -

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West Linn Plexes4355 Riverview AveWest Linn, OR 97068

Hillsboro Townhomes1492 NE Edgefield StHillsboro, OR 97124

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THANK YOU.

1 1 1 S o u t h w e s t C o l u m b i a | P o r t l a n d , O r e g o n 9 7 2 0 1 | P : 5 0 3 . 2 2 3 . 9 2 0 3 | F : 5 0 3 . 2 2 3 . 4 6 0 4 | m e l v i n m a r k . c o m

TERESA ROBLES503.546.4533

trobles@melvinmark.comLicensed in OR & WA

DISCLAIMER: Although this analysis has been reviewed by representatives of Melvin Mark Brokerage, it does not purport to be all inclusive or contain all the infor-

mation which a buyer, owner, nor any of its officers, directors, employees or agents, nor Broker make any representation or warranty, and Broker disclaims any lia-

bility which may be based on such information, errors therein or omissions therefrom. All financial information contained herein is unaudited. The projections and

proforma information contained herein represent estimates based on assumptions considered reasonable under the circumstances. No representations or warranties,

expressed or implied, are made that the actual results will conform to such projections.