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Olympia, WA

72 Units

Built in 2012

Suburban Core

Investment Highlights

  • Situated in the 137-acre Briggs Village Master Planned Community surrounded by nature. Residents enjoy connectivity to miles and walking trails and six Kettle lakes. Walking distance to amenities.
  • Well-designed floor plans offering one-, two-, and three-bedroom homes ranging in size from ±788 square feet to ±1,243. All buildings feature 9' ceilings and are fully sprinklered.
  • Strong Going-In Cash Yield: High historical occupancy and sustained operational success at the property combined with the assumable HUD financing offers investors attractive "day-one" cash yield.
  • Affluent Neighborhood Demographics: Average household income of $135,431 within one mile; 51% higher than Olympia average household income. High barrier-to-entry homeownership with average home prices of $544,985 in the 98501 zip code, making homeownership 45% more expensive than renting at Parkview.
  • Assumable HUD Loan at 2.35%: Existing HUD loan under the 223(f) program to be assumed by incoming buyer. Fixed interest rate of 2.35% for the life of the loan, which matures in 2056.
  • Light Value-Add Opportunity: An incoming investor can capitalize on upside through operations by lightly improving unit interiors to compete with surrounding newer construction communities and attract top-tier renters.

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