Property Description

Red Cedar Apartments -- offered at a 5.3% cap rate -- is a newly built, FULLY LEASED, 20-door multifamily asset in North Redmond designed for low-maintenance, set-it-and-forget-it ownership. The community features four buildings on four separate tax lots, allowing optional future sale of buildings individually. Two of the buildings each include 2 apartments + 2 studios, and two of the buildings each include 3 apartments + 3 studios, for a total of 20 rentable units. Townhome-style residences are paired with ground-level studios, appealing to multiple renter profiles. Fully leased and professionally managed, the property delivers consistent cash flow with tenants paying all utilities, lowering owner expenses. A modern, clean, new-construction investment offering durable income and flexibility.

Property Features

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