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AVerage SF
1,097
BUilt
2011
Units
118
Berkadia Seattle Investment Sales is pleased to announce it has been retained as the exclusive listing broker for Quail Springs in West Richland, WA.
Built in 2011, Quail Springs features 118 classic homes, averaging 1,097 square feet. Quail Springs presents a blank canvas for value-add investors looking to plant a flag or grow their footprint throughout the market. Adjacent to recent home sales between $700,000 – $900,000, and with a local average household income well into the six figures, Quail Springs is primed for continued rent growth and operational success as the community sits in one of the best micro-locations across the entire Tri-Cities, at the base of Badger Mountain.
Quail Springs offers an attractive loan assumption at 4.52% with full term Interest Only payments. Buyers can expect to realize above market yield from Day 1, approaching a 7.5% Cash-on-Cash return.
The Tri-Cities MSA has greatly benefited from significant investment and development, underscored by recent projects by national brands such as Amazon, Costco, Darigold, and Tyson Foods. Additonal development and employment drivers include Hanford, PNNL, Kadlec Medical Center, The Tri-Cities Research District, The Port of Benton, Department of Energy, Puget Sound Energy, Wallula Business Park, and Bechtel.
Address
City, State, Zip
County
Parcel Numbers
Units
Construction Year
buildings
Stories
Site Size/Acreage
Rentable SF
Average Unit SF
Average Rent/Unit
Average Rent/SF
4711 Dallas Rd
West Richland, WA 99353
Benton
117983012789007
30PQ04500000000
118
2011
13
Three
7.00 Acres
129,441 SF
1,097 SF
$1,718
$1.57
Opportunity
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Quail Springs features a variety of one, two, and three-bedroom apartment layouts, designed to blend beauty with functionality. Quail Springs boasts an array of amenities including a pool, clubhouse, gym, and private patios and balconies. Its prime location offers a serene retreat while being conveniently close to the vibrant downtown area of West Richland.
Asset
One Bedroom
Two Bedroom
Three Bedroom
24 Units
63 Units
31 Units
803 SF
1,071 SF
1,377 SF
QUAIL SPRINGS
Contact us.
Kenny Dudunakis
Senior Managing Director
WA CRE #30749
206.521.7216 kenny.dudunakis@berkadia.com
Email
George Pallis
Director
WA CRE #138339
206.801.3070
george.pallis@berkadia.com
Email
David Sorensen
Managing Director
WA CRE #26603
206.801.3102 david.sorensen@berkadia.com
Email
Ben Johnson
Managing Director
WA CRE #114515
206.801.3144 ben.johnson@berkadia.com
Email
INVESTMENT SALES
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
425.230.2565
berkadia.com
berkadia.com/northwest
Bellevue Office
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 loan brokerage business in Nevada.
© 2024 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 the Tax Credit Syndication group. For state licensing details for the above entities,
visit: https://www.berkadia.com/licensing/.
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
Peter Dudunakis
Associate Director
WA CRE #24008898
206.795.4169
peter.dudunakis@berkadia.com
Email
MIchael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com
Email
MORTGAGE BANKING
Quail Springs is ideally positioned for a buyer to begin a programmatic interior value-add renovation throughout their hold period. Upon completion, Berkadia projects NOI growth, approaching $500k. Renovated rents at Quail Springs of $1.74 per foot are in-line with the market rates being achieved at numerous comparable assets.
Value-Add Opportunity
Renovated Premiums
In-Place Rents to
Berkadia Reno Pro Forma
$255
Potential NOI Growth
Jan. 2025 T-12 to
Berkadia Reno Pro Forma
$460k
Current HOme
4711 Dallas Rd | West Richland, WA 99353
Exclusive Multifamily Opportunity
Robert Doxsee
Managing Director
786.646.2580
brad.williamson@berkadia.com
Email
Document Center
Opportunity
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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 loan brokerage business in Nevada.
© 2024 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 the Tax Credit Syndication group. For state licensing details for the above entities,
visit: https://www.berkadia.com/licensing/.
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
Contact us.
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
425.230.2565
berkadia.com
berkadia.com/northwest
Bellevue Office
MIchael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com
Email
Robert Doxsee
Managing Director
786.646.2580
robert.doxsee@berkadia.com
Email
MORTGAGE BANKING
Kenny Dudunakis
Senior Managing Director
WA CRE #30749
206.521.7216 kenny.dudunakis@berkadia.com
Email
Peter Dudunakis
Associate Director
WA CRE #24008898
206.795.4169
peter.dudunakis@berkadia.com
Email
George Pallis
Director
WA CRE #138339
206.801.3070
george.pallis@berkadia.com
Email
David Sorensen
Managing Director
WA CRE #26603
206.801.3102 david.sorensen@berkadia.com
Email
Ben Johnson
Managing Director
WA CRE #114515
206.801.3144 ben.johnson@berkadia.com
Email
INVESTMENT SALES
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© 2022 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is 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. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004