Equity Pacific is pleased to announce the sale of the Covington Manor Town Homes located at 9805 NE 76th Way, in Vancouver, Washington for $1,590,000 ($265,000 per unit and $186 PSF) to an all cash buyer in a 1031 exchange. This transaction closed at a 4.82% cap rate in just 10 days from mutual acceptance to close of escrow.
These very spacious and attractive rental homes included Six (6) individually deeded Town Homes, sold together as an investment portfolio. Built in 2014, this offering comprises two (2) 3BR/2.5BA units of approximately 1,525 SF, and four (4) 3BR/2.5BA units of approximately 1,350 SF. The beautiful interiors feature large family rooms with fireplaces, granite counters, stainless steel appliances, an eating bar, master walk-in closet, double vanity, built-in garage, AC units and a fenced yard.
This investment portfolio already has strong rents in place, with room for some modest rent increases when compared to similar rental units in the area, as Vancouver continues to be a strengthening rental market.
Jason Waxberg represented the seller to the transaction.
9805 NE 76th Way, Vancouver, Washington 98662