East Wenatchee Apartments Sell For $20.9M
The 105-unit site sold at a 5.4% cap rate.
The building is a garden-style apartment development with 93 two-bedroom and 12 three-bedroom units with an average size of 1,153 SF. The units include stainless steel appliances, granite counters, balconies and patios, and an attached 6x6 storage unit. The complex also has an on-site maintenance shop.
East Wenatchee, part of Wenatchee Valley, is getting some of the spillover from Seattle’s rapid growth. East of the Cascades, the city sits in the sunny side of the state and is starting to experience a real estate boom.