Steps From Central Washington University
University Park & Place is Ellensburg’s closest off-campus housing to Central Washington University, serving 8,500+ students and 1,700 employees, ensuring consistent year-round occupancy.
217 Units Ready for Upgrades
Simple cosmetic improvements and adding in-unit washer/dryers across these primarily two-bedroom apartments will command higher rents and immediately increase income.
Exceptional Tenant Demand
Maintains 98%+ occupancy with pre-leasing for the 2026-2027 academic year running 20% ahead of schedule, proving strong rental demand and reliable income.
Growing Local Economy
Kittitas County expects 25% employment growth through 2032 (AWB Institute), driving continued population growth and rising rents in this expanding market.
Protected from Competition
Only 17 new units built in 2025 with no additional construction planned—allowing this property to maintain high occupancy and steady rent increases.
Lower Cost of Living
Ellensburg’s 8.6% sales tax runs well below Seattle-area and state averages, attracting both renters and employers looking for affordability.
City-Backed Growth
Ellensburg actively partners with CWU, county leaders, and local businesses to create jobs and support ongoing population growth.
Property Overview
University Park & Place
- ADDRESS
- CITY, STATE ZIP
- UNITS
- AVG. UNIT SIZE
- YEAR BUILT
- Building Size
- Parking
- PARCEL
- LOT SIZE
- ZONING
- COUNTY
Unit Mix
Unit
Type
Type
Count
Avg Unit
SF
SF
Total
RSF
RSF
Current
Rent
Rent
2026 - 2027
Pre-Lease Rent
Reno Rent
Monthly
Rent
Rent
Annual
Rent
Rent
Rent
SF
SF
% of
Total Units
Total Units
1 Bed/ 1 Bath - Place
1
544
544
$899
$899
$1,000
$1,000
$12,000
$1.84
0%
2 Bed/ 1 Bath - Place
114
720
82,080
$1,077
$1,092
$1,375
$156,750
$1,881,000
$1.91
53%
2 Bed / 1 Bath - Park
48
775
37,200
$1,151
$1,192
$1,375
$66,000
$792,000
$1.77
22%
2 Bed / 1 Bath - Park Large
48
782
37,536
$1,165
$1,181
$1,375
$66,000
$792,000
$1.76
22%
2 Bed/ 1 Bath - Place Large
6
918
5,508
$1,115
$1,098
$1,450
$8,700
$104,400
$1.58
3%
Total / Average
217
751
162,868
$1,113
$1,133
$1,375
$298,450
$3,581,400
$1.83
PHOTO GALLERY
Contact us
Primary Contact
Steven Chattin
Managing Director
425.269.3826
[email protected]
Beau Krueger
Associate Director
425.765.6780
[email protected]
INVESTMENT SALES
Jay Timpani
Managing Director
206.999.3206
[email protected]
Mitchell Belcher
Managing Director
425.891.9594
[email protected]
Chad Blenz
Senior Director
206.491.2008
[email protected]
Brandon Lawler
Senior Director
206.484.8114
[email protected]
mortgage banking
Robert Doxsee
Managing Director
425.777.0235
[email protected]
Michael Manolides
Senior Director
253.670.2143
[email protected]
Connor Lemley
Associate Director
206.455.1592
[email protected]
offices in bellevue & seattle
bellevue
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
206.521.7220
seattle
601 Union Street
Suite 3720
Seattle, WA 98101
206.521.7220
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