Colony Park Apartments

Metrics Overview

  • Syndication Investment - 18 private equity investors
  • Address: 1801 Magnolia St SE, Lacey, WA 98503
  • Units: 16
  • Date acquired: 6/25/2021
  • Date sold: Current Holding
  • Acquisition price: $1,400,000
  • Sales price: Current Holding
  • Capital investment (Equity Investors): $975,000
  • Profit: Current Holding
  • Projected Internal rate of return (IRR): 19.4%

This 16 unit Lacey, WA apartment building was built in 1968 and has 16 460sf 1BR units. The property has significant potential to add value with renovations to the dated apartment units, including new flooring, kitchen cabinets, quartz countertops, all new SS appliances, new bath fixtures, all new window & door trim and light fixtures, new window coverings and installation of in-unit washer/dryers to replace the current community laundry. 

PRIME 

LOCATION

Colony Park Apartments is close to Washington's capital city of Olympia in a quiet neighborhood near Chambers Lake and Joint-Base Lewis McChord. Recently the Chehalis Western Trail was completed directly adjacent to the property allowing residents access to recreation areas.

OUR

PARTNERS

M&M Ventures has partnered with InCity Properties to manage Colony Park Apartments in Lacey.