21125 81st Street Ne, Arlington, WA 98223

Arlington
Local realty services provided by:Knipe Realty ERA Powered
Listed by: brendan greenheck
Office: northmarq multifamily, llc.
MLS#:2505434
Source:NWMLS
21125 81st Street Ne,Arlington, WA 98223
$7,300,000
  • - Beds
  • - Baths
  • 28,247 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$7,300,000
  • Price per sq. ft.:$258.43

About this home

Portage Creek Apartments is a well-maintained 28-unit property located in Arlington, offering investors immediate rent growth with minimal execution risk. It has benefited from significant capital improvements, with 24/28 units already renovated featuring updated flooring, paint, cabinets, and CT. In addition, the exterior has been recently repainted, enhancing curb appeal and reinforcing the asset’s strong physical condition. Despite these upgrades, in-place rents remain below market, providing a clear opportunity to increase revenue without the need for further interior renovations. All units include in-unit W/D and feature large floor plans averaging 1,009 SF, a compelling differentiator in the local rental market. The unit mix is further enhanced by value-added amenities, including several units with attached garages and a total of 14 garages on site, 2 of which are currently utilized by ownership and offer immediate incremental income potential. Most units also feature...

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Home facts

  • Year built:1992
  • Listing ID #:2505434
  • Updated:May 24, 2026 at 11:06 AM

Rooms and interior

  • Flooring:Carpet, Vinyl Plank
  • Living area:28,247 sq. ft.

Heating and cooling

  • Heating:Baseboard

Structure and exterior

  • Roof:Composition
  • Year built:1992
  • Building area:28,247 sq. ft.
  • Lot area:4.3 Acres
  • Lot Features:Paved, Sidewalk
  • Construction Materials:Brick Exterior Finish, Wood Exterior Finish
  • Exterior Features:Deck, Patio

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$7,300,000
  • Price per sq. ft.:$258.43
  • Tax amount:$41,489 (2026)

Parking

  • Total parking spaces:47
  • Garage:Yes
  • Garage spaces:14
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