Windjammer

Built in 1984, the Windjammer is a Four-building, and twenty-eight-unit community centrally located in Ocean Shores, WA. Directly in the middle of the Ocean Shores Golf Course. Windjammer is an attractive community for families and local workers. From a tenant’s perspective, proximity to the beach, golf course and other attractions make this a great place to call home.

Windjammer, the largest market-rate apartment community in Ocean Shores, consists of six studios; twelve one-bedroom, one-bathroom; ten two-bedroom, one-bathroom units averaging 655 square feet. Each unit features modern kitchen appliances, . At a purchase price of $4,235,000, Windjammer offers outstanding price per pound metrics at $151,250 per unit and $231 per square foot. An incoming investor can achieve over an 9% cash on cash return in year one. Windjammer is an incredible opportunity to own in a market that has low competition.

Discovery Shores

Built in 1968, Discovery Shores is a four-building, and twenty-six-unit community located in South Ocean Shores, WA. Walking distance from the Oyhut Bay Seaside Village. Discovery Shores is an attractive community for local employees. From a tenant’s perspective, proximity to the beach, hospitality employers and other attractions make this a great place to call home.

Discovery Shores, the second largest market-rate apartment community in Ocean Shores, consists of fourteen studios; eleven one-bedroom, one-bathroom; one two-bedroom, one-bathroom units averaging 655 square feet. All units have access to a common courtyard with a private dock. At a purchase price of $3,100,000, Discovery Shores offers outstanding price per pound metrics at $119,000 per unit and $204 per square foot. An incoming investor can achieve over a 7% cash on cash return in year one.

Purchasing both Discovery Shores and Windjammer presents the opportunity to control the dominant share of market-rate units in Ocean Shores.