AN APARTMENT COMMUNITY WITH VALUE-ADD POTENTIAL

Kidder Mathews is pleased to have the exclusive listing for the Legacy Park apartments. A 20-unit value-add offering located in Bonney Lake, WA.

DISCOVER Legacy Park

Built in 2013, and consisting of 10 separate duplexes holding a mix of 2 and 3-bedroom layouts – Legacy Park boasts long terms residents, low historic vacancy and extremely leasable unit layouts. Spanning over 10 separate parcels and 2.55 acres – residents of Legacy Park enjoys open floors plans with vaulted ceilings, in unit washer / dryer, attached 1 and 2 car garages and private fenced backyards. Currently operating as a 55 and over community, Legacy Park offers new ownership with the potential to keep operations in place and or lease as a market rate community with no age restrictions.

In addition to age restriction flexibility, Legacy Park can be sold off as ten separate duplexes to multiple buyers - adding to the number of investment strategy options Buyer's hold.

VALUE-ADD INVESTMENT

Each unit can support significant cosmetic interior upgrades that include, but are not limited to, stainless steel appliances, stone countertops, updated lighting, doors and trim, new LVP flooring on select units. Current rents at Legacy Park average $2,102/month - through interior improvements, we estimate market proforma rents at $2,700/ month. A roughly 28% potential increase in monthly income can be achieved through rehab program.

Few investment value-add opportunities pair newer build product and this level of upside potential - making Legacy Park truly unique in its offerings.