Stonemeadow Farms_Pand te koop
Stonemeadow Farms_Pand te koop
23028 27th Ave SE, Bothell, WA, 98021-7874, US

Stonemeadow Farms

Objectomschrijving

Built in 1999, Stonemeadow Farms Apartments (the “Property”, “Subject”, or “Stonemeadow Farms”) is situated on a sprawling 29 acres that is within close proximity to major employers in Bothell and on the Eastside. The Property consists of 280 units spread out amongst 20 buildings units complete with a host of well-maintained and recently renovated community amenities including a 24-hour fitness center, clubhouse with a kitchen and lounge, resort-style pool, and an outdoor terrace with fire pits and barbeques.


In addition, a future buyer will have the opportunity to renovate the Property’s 270 partially renovated units, bringing all apartments to market premium finish levels and enhancing upside potential for a future owner. Potential upgrades include luxury unit features designed to align Stonemeadow Farms with Bothell’s newest apartment communities. New investors will be able to realize significant, proven rent premiums that will bring the achieved rent close to $2,500 per unit through the implementation of a comprehensive luxury-grade interior renovation program. The Property presents investors with ample rental upside as only 10 units have received the higher-end renovation. Common areas have been recently updated, and the Property has been exceptionally well-maintained allowing a new owner to focus on revenue enhancement via unit upgrades. Additionally, the Property has been institutionally owned for over 20 years.


New ownership will benefit from the strength of the Bothell submarket, which is driven by the wealth and education of its residents, as well as its accessibility to top-tier employment. Residents at Stonemeadow Farms are proximate to major employment hubs on the Eastside, higher education, a highly regarded public school district, and the rapidly growing life science market in Bothell.

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Attributen

Aantal eenheden
280
Netto landoppervlakte
11,78 ha
Netto gebouwoppervlakte
21.185 vierkante meter
Bouwjaar
1999
Parkeerplaatsen
682

Media

Investeringskenmerken

  • Opportunity for rental upside by completing current high-end renovation program
  • Proximate to major employers in Bothell and on the Eastside
  • Significant discount to homeownership
  • Quick access to ample retail and entertainment amenities in Bothell and Woodinville
  • Outstanding access to regional thoroughfares
  • Superb neighborhood demographics
Stonemeadow Farms 4_Pand te koop
Stonemeadow Farms 4_Pand te koop

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Laatst bijgewerkt
Jul 16, 2024