This vacant parcel borders the existing 31-unit Harper on Hood apartment complex, giving investors the flexibility to develop additional units that expand the existing property, or construct six townhouse-style units for individual sale.

Tight housing supply continues to drive strong occupancy and rent growth, with the market absorbing an average of 296 units annually over the past five years—highlighting clear demand for additional units.

2353 Hood Ave is located in the heart of Richland, WA, surrounded by residential neighborhoods, single-family homes, condos, and top-rated school districts; the property is located between the 240-bypass highway and George Washington Way, delivering a seamless commute and easy access to major employers and educational institutions.

The surrounding area draws a diverse tenant profile of young professionals, engineers, students, and families who seek proximity to major employment centers, local schools, outdoor recreation, and pet-friendly living.

Average occupancy reached 95.8% as of Q2 2025, climbing 50 basis points year-over-year, while asking rents increased 24.7%, underscoring strong demand and signaling continued rental income growth potential.

2353 is being offered individually or as part of a five-property portfolio totaling 104 units priced at $18,475,000.

The approved development features 6 three-bedroom townhomes averaging 1,500 square feet each.