Property Details

21125 81st Dr NE

Arlington, WA 98223

$7,300,000

Off Market

CBA# 710158 courtesy of CBA Listing firm: Northmarq Multifamily LLC

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Commercial

Property Type

28,247

Bldg Sq Ft

Units

1992

Year Built

Property Overview

Portage Creek Apartments is a well-maintained 28-unit property located in Arlington, offering investors immediate rent growth with minimal execution risk. The property has benefited from significant capital improvements, with 24 of 28 units already renovated featuring updated flooring, paint, cabinets, and countertops. In addition, the exterior has been recently repainted, enhancing curb appeal and reinforcing the asset’s strong physical condition. Despite these upgrades, in-place rents remain below market, providing a clear opportunity to increase revenue without the need for further interior renovations. All units include in-unit washers and dryers and feature large floor plans averaging 1,009 square feet, a compelling differentiator in the local rental market.The unit mix is further e