The Towns on Entiat

New Construction 36 Build-to-Rent Units in Kennewick

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The Towns on Entiat

36-Unit New Construction in Kennewick

The Towns on Entiat is a build-to-rent townhome asset constructed in 2023 with modern finishes and high-quality materials throughout. The asset is fully stabilized with proven market rents across each spacious floor plan. The Towns on Entiat features three floor plans, all of which are two-story townhome-style apartments featuring 2- and 3-bedroom units with 2.5 baths, ranging from 1,207 to 1,577 square feet. These large units have attracted high-quality residents, yet rents remain at relatively affordable levels for Tri-Cities living.

Positioned within the heart of Kennewick, the largest of the Tri-Cities, The Towns on Entiat is nearby all Kennewick has to offer including the Public Market, shopping and restaurants downtown, major employers throughout Kennewick, and is nearby major thoroughfares connecting The Towns on Entiat to the entire Tri-Cities and its employers within 15 minutes in any direction.

Currently self-managed, The Towns on Entiat represents an opportunity to acquire a high-quality new construction build-to-rent asset and retain professional property management who can fine-tune the operations and increase the yield with relative ease.

Investment Highlights

BUILD-TO-RENT: A high-demand asset class, the build-to-rent construction provides advantages over traditional apartments including larger living space, garage parking, private backyard space, and quality of living without the costs or burdens of homeownership.

QUALITY OF CONSTRUCTION: Constructed with high-quality design and materials, The Towns on Entiat features granite countertops, stainless appliances, garage parking, central HVAC, high-quality LVP flooring, double-vanity bathrooms, and built-in closet organizers.

UPSIDE THROUGH EFFICIENT OPERATIONS: Currently self-managed by the original developer, some upside remains in the financials through hiring professional property management and completing the implementation of utility billbacks, pet rents, and eliminating in-place loss-to-lease within the first year of ownership.

OPPORTUNITY ZONE: The surrounding neighborhood will see continued reinvestment and growth over the next 10+ years due in part to the Opportunity Zone location. Any project expansion or nearby opportunities to grow a Kennewick portfolio could leverage the Opportunity Zone tax benefits moving forward.