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Stabilized Turnkey Opportunity in Thriving Eastern Washington Market
Turnkey Asset
Heritage Manor is a well-maintained investment opportunity, with over $300,000 invested by new ownership in capital expenditures to enhance the property’s value with both interior and exterior upgrades.
Stabilized Asset with Long-Term Value
The property boasts a 100% occupancy rate with no delinquency, providing a stable and reliable income stream as a long-term investment.
Townhouse Style Layout
Each unit features a two-story layout with 2 bedrooms and 1.5 bathrooms; in-unit amenities include central air conditioning and private backyards.
Thriving Local Economy
The Tri-Cities area is currently outperforming major U.S. cities like Dallas, Phoenix, Denver, Charlotte, and the Seattle metro; the Tri-Cities ranked 18th among the “Best Performing Cities in 2025” by the Milken Institute.
Michael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
David Sorensen
Managing Director
206.801.3102
david.sorensen@berkadia.com
Ben Johnson
Managing Director
206.801.3144
ben.johnson@berkadia.com
Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
contact
Phone: 206.521.7220
Fax: 206.521.7222
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
21428 International Blvd
Kent, WA 98032
Year Built/ Rennovated
1978 / 2024
Price
$2.485M
Market Cap Rate
5.50%
Units
10
Stories
2
NRSF:
9,600
Lot Size:
.70 acres / 30,470 SF
Parcel Number:
10589109000-2005
Executive Summary:
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Heritage Manor is a well-maintained 10-unit investment opportunity located in Kennewick, Washington, part of the rapidly expanding and increasingly popular Tri-Cities area. Built in 1978, Heritage Manor underwent $300,000 in extensive renovations to update the property’s interior and exterior. Interior renovations include upgraded lighting fixtures, luxury vinyl plank flooring, fresh paint, new hardware, and bathroom upgrades. Exterior renovations included repairs to the parking lot, a full exterior paint job, upgraded lighting, and a new fence installation for resident privacy.
The property currently boasts a 100% occupancy rate with no delinquencies, making Heritage Manor a stable and reliable long-term investment opportunity. Each of the 10 units features a two-story layout with 2 bedrooms and 1.5 baths, along with strong amenities including central air conditioning and private backyards.
Located in the Tri-Cities, Heritage Manor is situated in one of the fastest-growing markets in Washington State. The population of the Tri-Cities is expected to grow by 7% in the next five years, with Benton County already seeing a 5.1% growth since 2020. The region’s population boom is anchored by the Tri-Cities’ strong employment sector, which features industries like research and development, technology, manufacturing, agriculture, retail, and healthcare.
Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
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6721 W Kennewick Ave Kennewick, WA 99336
Zoning:
RM-4
Map
2024 cap rate
5.27%
Strong Submarket Fundamentals
The submarket is Washington’s third-fastest growing region, with a population growth of 5.7% between 2020 and 2024.
beau krueger
Associate Director
425.765.6780
beau.krueger@berkadia.com