Pinehurst Manor Apartments — Sale in Auburn, WA
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Auburn, WA 98002
Photos
Investment Figures
- Cap rate
- 5.78%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap are pleased to present Pinehurst Apartments, a well-maintained 16-unit community constructed in 1968, located at 733 10th Street NE, Auburn, WA 98002. This property offers a light value-add investment opportunity with recent capital improvements and modernized interiors. The current owner has renovated the interiors of fourteen of the sixteen units, installed double pane vinyl windows and has performed exterior upgrades that include new roofs, exterior painting and light landscaping. Pinehurst Apartments is available for $212,500 per unit and $283 per foot, offering an attractive in-place cap rate of 5.78%. This well positioned asset presents an excellent opportunity for an investor seeking a stabilized community with upside through renovating the last couple of units & improving operations. Investment Highlights: • Can be purchased together with the adjacent 48-unit complex, Lobdell Apartments, across the street -- combined acquisition opportunity. • 16 units on 4 individual parcels; 14 of 16 units already renovated with modernized interiors. Light value-add remaining: upside through finishing the last 2 unit renovations and improving operation. • New roofs 2021, exterior paint 2021, and double-pane vinyl windows.
Market Context
This multifamily in Auburn, WA is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Auburn, WA — view the full market.
As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and average asking rents near $2004.00/unit/mo. Source: multiple brokerage reports, Q1 2026.
Multifamily market FAQ
- Is the Seattle / Bellevue multifamily market tightening or softening?
- Vacancy is around 7.3% (Q1 2026).
Contact
- Scott Morasch · (206) 826-5724 · scott.morasch@marcusmillichap.com
- Kellan Moll · (206) 826-5692 · kellan.moll@marcusmillichap.com
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Similar Multifamily Property for Sale in Auburn, WA
- Lobdell Apartments — Contact for price · Auburn, WA