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29-Unit Well-Maintained Property Near Central Washington University
Value-Add Opportunity
Implementing minimal operational changes and updating the units with higher-end finishes offers significant value-add potential, leading to higher rents and returns.
Well-Maintained Property
All units have been lightly upgraded to include upgraded kitchen fixtures and appliances, modern bathroom lighting, new carpets, and vinyl plank flooring.
Attractive Pricing
Competitively priced at $156,897 per unit and $218 per square foot
Strong Unit Mix
The Den predominantly offers one-bedroom units, along with a number of two-bedroom units that feature a semi-private balcony.
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
1968
Price
$4.55M
Buildings
4
Stories
2
NRSF
20,893
Lot Size
1.18 Acres | 51,400 SF
zoning
RM
unit mix:
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Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
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801 E 18th Ave
Ellensburg, WA 98926
County
Kittitas
Map
Units
29
Outstanding Location
Conveniently located just steps away from Central Washington University (CWU) and minutes from Downtown Ellensburg, offering a reliable tenant base and minimizing vacancy risks; CWU enrolls over 8,500 students with 1,700 employees.
beau krueger
Associate Director
425.765.6780
beau.krueger@berkadia.com
Community Space
All units look out onto the well-maintained green space with shared patio seating.
Consistent Rent Growth
The Ellensburg market has experienced an average rent growth trend of 5.37% over the past 10 years.
Scenic Location
Ellensburg surrounds residents with stunning landscapes, including mountains, hills, and rivers, making it perfect for outdoor enthusiasts seeking a more affordable cost of living. Residents can easily access outdoor activities such as hiking, fishing, camping, and skiing.
Favorable Tax Environment
Ellensburg’s sales/use tax rate of 8.6% is lower than the double-digit rates seen in the Puget Sound area and is also below the average rate across other cities in Washington.
Portfolio Upside
The Den is being offered individually or as part of a three-property portfolio totaling 110 units, priced at $17.2M or $156,364 per unit.
Connor lemley
Associate Director
206.455.1592
connor.lemley@berkadia.com
Michael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com
Available Individually or as Three-Property Portfolio
