Harbour Pointe is located at the entrance of the Harbour Pointemaster-planned community, which features an 18-hole golf course,high tech business park, several upscale residential neighborhoodsand three new schools. The property is approximately 95%occupied.
The sale price for Harbour Pointe works out to $186,364 perunit. The unleveraged cap rate, based on in-place numbers, is inthe high 4% range, according to the listing broker, Jon Hallgrimsonof CB Richard Ellis.
"In the West, investors like Seattle for several reasons,including strong job growth, little new supply, and no overhang inthe single-family market," Hallgrimson tells GlobeSt.com.
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