• $2,820,000
  • ID: 841641
  • 19,938

Bear Creek Villas,4.5% cap rate with room to increase income!Rents are presently lower than market with long term tenants averaging 5 years. A 12 unit condominium that is currently operated as an apartment building.The property consists of 3 – 4plex buildings. All 2 bedroom,Fireplaces, washers and dryers,decks.100% Occupied,management firm in place.Redmond is one of the west coasts most affluent area’s & continues to see substantial growth and development.15 minutes to Seattle/Bellevue. Redmond is the seventh most populous city in King County and the sixteenth most populous city in the State of Washington. The City is located 11 miles north east of downtown Seattle a 15 minutes commute to downtown Seattle and the UW of Washington. In 2014 the population was 57,700 by 2020 the population is expected to grow to 78,000 people. 60% of the population in Redmond holds a 4 year college degree