Property Details

520 S Kelsey St

Monroe, WA 98272

$5,200,000

Available

CBA# 709814 courtesy of CBA Listing firm: Northmarq Multifamily LLC

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Commercial

Property Type

20,556

Bldg Sq Ft

Units

5.00%

Cap Rate

1989

Year Built

Property Overview

We are pleased to exclusively present Cherry Creek Apartments, a highly desirable 18-unit multifamily community located in Monroe, Washington.Cherry Creek offers a diverse unit mix consisting of one-bedroom flats, two-bedroom flats, and spacious two- and three-bedroom townhomes, with an average unit size of 1,134 square feet. The property has undergone extensive renovations, with most residences featuring stainless steel appliances, granite countertops, luxury vinyl plank flooring, modern lighting, refaced cabinetry, and in-unit washer/dryers.The community provides a superior parking ratio of 2.67 spaces per unit, including 20 garage spaces and 28 surface stalls. Select townhome units feature attached two-car garages and floorplans up to 1,450 square feet, positioning Cherry Creek as a competitive alternative to single-family housing.Situated in Snohomish County at the base of the Cascade Mountain Range, Cherry Creek benefits from strong regional demand drivers. The property offers convenient access to Highway 2, a 20-minute commute to Everett, and proximity to major employment centers in Bellevue and the greater Seattle metro.Cherry Creek Apartments represents a rare opportunity to acquire a renovated, well-located community in one of the Puget Sound region’s fastest-growing suburban markets.