Pasco Townhomes

100% Occupied Multi-Family Investment Opportunity
16 Island Estates Townhomes | Pasco, Washington
Brandi M. Ho
Brandi@MAJCRE.com
360.823.5112
Michael A. Jenkins
Mike@MAJCRE.com
360.823.5102
www.MAJCRE.com

CONTENTS
INVESTMENT SUMMARY 04
PROPERTY DETAILS 06
PROPERTY PHOTOS 08
FINANCIAL SUMMARY 12
RENT ROLL 14
LOCATION 16
DEMOGRAPHICS 20
www.MAJCRE.com
Brandi M. Ho
Brandi@MAJCRE.com
Direct: 360.823.5112
Michael A. Jenkins
Mike@MAJCRE.com
360.823.5102
300 West 15th Street, Suite 201 Vancouver, Washington 98660

INVESTMENT SUMMARY
The Pasco Townhomes are located in the quiet neighborhood of Island Estates
Rowhouse Development. The convenient locaon in West Pasco allows for easy
commung and access to nearby shopping. Situated just one block from retail,
grocery, fuel, fast-food, sit-down restaurants and minutes to Road 68, I-182 and
the Tri-Cies Airport.
Each Townhome is part of a tri-plex or four-plex building, built in 2005 and
consists of approximately 2,200 square feet of living space. Each feature three
bedrooms, three full baths, one half-bath, two car aached garage, private back
decks, gas fireplaces, and a full-size washer and dryer.
Beaufully landscaped with minimal maintenance these homes offer the best in
care-free living and have many upgrades. The great room living area is adjacent to
the open kitchen and dining room. The living areas are filled with plenty of
natural daylight from surrounding glass. Some of the kitchens have been updated
to include stainless steel appliances, new full-height le back-splash, stainless
steel faucet with Silgranit sink, eang bar, pantry, and ceramic le floors. The
living room features a bay window and is perfect for expanded entertaining space
or a quiet room for relaxing. Spacious owner’s suite includes a soaring vaulted
ceiling with a beauful chandelier, gas fireplace, bay window, large vanity with
double sinks, separate shower, soaking spa, and walk-in closet. Two addional
bedrooms each have their own bathrooms including large showers. Main upstairs
hallway/lo area features space for a desk or furniture piece. Separate laundry
room with ulity sink is conveniently located off the hall/lo area. New window
coverings and light fixtures have been updated throughout. A private deck from
the great room offers sunset views and includes a natural gas BBQ connecon.
Expanded, over-sized two car garage has ample space for addional storage or
work area. Natural gas forced-air furnace with central air condioning.
The Townhomes are all on separate tax parcels for future opportunity to sell
individually if desired. Potenal upside as many of the rents are below market
rate.

PROPERTY DETAILS
Properties: 4802 Porlier Lane Tax ID: 116121102
4805 Porlier Lane Tax ID: 116121087
4811 Porlier Lane Tax ID: 116121008
4907 Porlier Lane Tax ID: 116121093
4910 Porlier Lane Tax ID: 116121096
4803 Montague Lane Tax ID: 116121103
4809 Montague Lane Tax ID: 116121106
4903 Montague Lane Tax ID: 116121109
4905 Montague Lane Tax ID: 116121110
4907 Montague Lane Tax ID: 116121111
4902 Guemes Lane Tax ID: 116121081
4906 Guemes Lane Tax ID: 116121079
4912 Guemes Lane Tax ID: 116121077
7710 Quadra Drive Tax ID: 116121044
7712 Quadra Drive Tax ID: 116121043
7810 Quadra Drive Tax ID: 116121035
Year Built: Approximately 2005
Total Units: 16 Townhomes
Unit SqFt: Approximately 2,215 SF
Stories:
Three Story
Average Lot Size: Approximately 5,000 SF
Garage Parking: Two Car Attached Garages Per Unit
Surface Parking: 16 Parking Stalls
Total Parking: 48 Stalls/Garages
County:
Franklin County
Jurisdiction: City of Pasco
Zoning:
R4 High Density Residential
Utilities:
Individually Metered

PROPERTY PHOTOS

PROPERTY PHOTOS

FINANCIAL SUMMARY
Financials
Complex PerUnit
GrossAnnualRentalIncome $290,736.00 $18,171.00
Vacancy3% $8,722.08 $545.13
Expenses
PropertyManagement $12,000.00 $750.00
Insurance $9,096.00 $568.50
RealEstateTaxes $42,460.50 $2,653.78
HomeOwnersAssociation $10,176.00 $636.00
Admin/Office/Marketing $4,140.00 $258.75
Repairs/Maintenance $8,116.00 $507.25
Total: $94,710.58 $5,919.41
NetOperatingIncome
$196,025.42 $12,251.59
CAPRATE:
PURCHASEPRICE:
PRICEPERUNIT:
4.08%
$4,800,000
$300,000
Home Owner’s Associaon Covers: Exterior Landscaping.

RENT ROLL
RentRoll
Address SqFt Bed Bath Rent LeaseStart LeaseEnd Movein
4802PorlierLane 2,215 3 2 $1,300 06/01/07 08/31/20 05/21/05
4803MontagueLane 2,215 3 3.5 $1,675 06/01/20 05/31/21 06/22/18
4805PorlierLane 2,215 3 3.5 $1,600 08/18/20 07/31/21 08/18/20
4809MontagueLane 2,215 3 3.5 $1,508 02/01/20 01/31/21 02/01/19
4811PorlierLane 2,215 3 3.5 $1,400 09/08/17 08/31/19 09/08/17
4902GuemesLane 2,215 3 3.5 $1,375 10/17/18 04/30/19 10/17/18
4903MontagueLane 2,215 3 3.5 $1,530 04/01/20 08/31/20 08/01/08
4905MontagueLane 2,215 3 3.5 $1,600 12/11/19 11/30/20 12/11/19
4906GuemesLane 2,215 3 3.5 $1,475 07/10/19 06/30/20 07/10/19
4910PorlierLane 2,215 3 3.5 $1,645 11/07/20 10/31/21 11/06/20
4912GuemesLane 2,215 3 3.5 $1,675 09/05/20 08/31/21 09/05/20
7710QuadraDrive 2,215 3 3.5 $1,350 10/05/17 09/30/20 10/05/17
7712QuadraDrive 2,215 3 3.5 $1,630 11/06/20 10/31/21 11/06/20
7810QuadraDrive 2,215 3 3.5 $1,515 04/15/20 03/31/21 04/15/20
4907MontagueLane 2,215 3 3.5 $1,350 09/05/19 08/31/20 09/05/19
4907PorlierLane 2,215 3 3.5 $1,600 08/18/20 08/31/21 09/01/20
MonthlyRentalIncome $24,228 $290,736
AnnualRentalIncome

Example Photos From Similar Unit

LOCATION

Island Estates Rowhouses

LOCATION

300 West 15th Street, Suite 201 | Vancouver, WA 98660
www.MAJCRE.com
While the information provided is not guaranteed it has been obtained from sources we deem reliable. It is provided without any representations, warranty or
guarantee, expressed or implied as to its accuracy. Prospective buyer or tenant should conduct an independent investigation and verification of all matters
deemed to be material, including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other Professional advisor.