INVEST IN ZILLAH LAKES NOW

 

There are several properties suitable for investment — from small to large — that are properly zoned and served with utilities right now.  These are split between residential rental investment property and commercial investment property (see map)

 

LUXURY RENTALS:

 

OPPORTUNITY FOR SAVVY INVESTORS,

 

 

Deluxe Townhomes on the entry. All are sold and three of the four are rented. Rental rates are commonly $1/ft per month

For the next several decades, we are likely to live in a rental economy. Homebuying continues to be tepid, except for the few. Job instability is the watchword of the day. Getting a mortgage loan has gone from being a guarantee, to a slow walk through a mine field.

 

So rentals will likely remain the main form of housing in the modern economy for a long while. And there is a tremendous pent-up demand — rates are rising every year. But with everyone renting, there is a class of renters who are high income, stable, professionals  looking for a special place to live: nice homes, lots of amenities, safety and security.  These are the renters of Zillah Lakes.  And they pay top dollar and more to live in this project: a minimum of $1 sq ft per month, plus utilities and HOA dues!

 

The Multifamily Projects Listed below can be for a rental, long term lease, short term hospitality, — or you have the option to sell it, unit-by-unit, to make a bundle as the housing market revives. Pro Forma performance is for key residential projects ready to build now as exemplified by the one below. More extensive information and specification/pricing list available on request!

 

Residential #1
Fountain Boulevard Entry 4-Plex

 

Great rental units right on the golf course. 1500 sq ft units with double garage, perfect for high housing demand from lower valley professionals at $1.00/sq ft per month. Offload utilities and POA dues to lessor. When rental market subsides, sell at higher market to protect yourself — or not. An easy, flexible investment. A sample pro forma follows…

 

Estimated Cost to Build: $500,000.00 Lot Costs: $140,000.00

Estimated Loan $508,000.00

Monthly P & I Payment @ 5% $2,727.00

Monthly Taxes/Insurance $ 780.00

Monthly POA Dues

Estimated Rents Monthly (10% vacancy) $5,400.00

Management fees @ 8% – $432.00

Monthly Estimated Cash Flow $1,461.00 Monthly

Yr. 1 Equity Growth $625.00 AVG

Monthly ROI 1st Yr.  $2086.00

Selling Price at Market/Unit $200,000.00

Profit/Unit at today’s Market $38,000.00

While the above is a sample pro forma, the values it yields are pretty consistent across every residential rental project at Zillah Lakes, as long as the quality of construction remains high, and the renter has the ability to make payments. Here are some additional projects

 

Residential #2:
Vialago Parkway Lakeside TriPlex

 

Lake access and views for a bargain price! 1589 sq ft units with double garage. Build with luxury lakeside setting in mind. Excellent for lease-to-own or long term rental. Offload utilities and POA dues to lessor. When rental market subsides, sell at high market to maximize your investment (about $215,000)! Beautiful Lots.

 

Residential #3:
Fountain Court Live/work Fourplex

Lake access and views in a live-work unit on the Central Square! 1489 sq ft units with double garage, excellent for short term rental, or longer term occupancy for entrepreneurs. Offload utilities and POA dues to lessor. As Town Center develops, sell at higher market to maximize your investment.

 

Residential #4:
Barbee Court Duplex (or Fourplex) Sweeping views of Mt. Adams & surroundings in a unit overlooking the 2nd fairway! 1100 – 1500 sq ft units with garage, excellent to re-sell or long=term leases. View units should sell at high market as housing market recovers. In the mean time, a stable and productive investment.

 

Estimated Cost to Build: $250,000.00

Lot Costs: $60,000.00

Estimated Loan $250,000.00

Monthly P & I Payment @ 5% $1342.00

Monthly Taxes/Insurance $ 400.00

Monthly POA Dues $ 200.00

Estimated Rents Monthly (10% vacancy) $2700.00

Monthly Estimated Cash Flow $758.00

Monthly Yr. 1 Equity Growth $307.00

AVG Monthly ROI 1st Yr. >22% $1065.00

Selling Price at Market/Unit $205,000.00 Profit/Unit at today’s market $36,000.00

Commercial Investments Available NOW

 

Savvy Investors are already taking advantage of what THEY see as the next Napa Valley boom here in the Lower Yakima Valley. Our most available and currently serviced commercial lots are in the Zillah Lakes Village Center. Already, the 4000 sq ft Yakima County Sheriff Substation occupies the southeast corner of the Town Center Roundabout, suggesting a secure and safe environment, across the street, construction has begun on a new 4500 sq ft Event Center, and land has been purchased and plans are underway for a Wine Country Inn and Bistro on the East side of the parking plaza.  In spite of this many opportunities remain for immediate commercial development.

 

COMMERCIAL #1: ZILLAH LAKES LODGE HOTEL/RESTAURANT/RETAIL. The GEM of the project is the Commercial Lot at the southwestern end of the Village Center Parking Oval. This is a large, served commercial lot with up to 10,000 sq. ft. ideal for retail, hospitality and restaurant use partaking of lakeside access, play and visibility.We have preliminary designs that feature intimate European styling with eye-catching courtyard dining in a relaxed lakeside setting. It’s easy to meet every investor’s need, from the purchase & development of a single 3500 sq ft facility, to the development of the entire site. Land is incentive-priced for the next investor to assure feasibility.

 

COMMERCIAL #2: TWO COMMERCIAL ROUNDABOUT LOTS (See Map A) Two lots are available on the north side of the roundabout for commercial use… To the west is an expandable tract of land designated to serve as shared parking for any commercial use in the roundabout or Village Center. The size and location of the lots indicate footprints of about 2500 to 4000 sq ft.

 

COMMERCIAL #3: BREWPUB OR FINE DINING SITE (See photo for partial View) The largest and most accessible lot in the project. Served with utilities within 3 months. Views of Mount Adams, Rainier, lakes and the golf course. Perfect for fine dining or brewpub use. The site also serves as the tee box for Hole 4, and is excavated for a performance amphitheater for around Hole 3, This significant site could be re-purposed for 40-unit luxury apartment complex (layout available).

 

From a long-term investment standpoint, the Yakima Valley wine country can best be compared to California’s Napa Valley of 1990. The Yakima Valley of 2014 has about the same number of growing and prospering wineries, land and home prices are slightly lower than those of 1990 Napa valley and the growth of the area is projected to reflect growth as a successful wine growing area.

 

Zillah Lakes uniquely offers investors:

 

Large tracts (nearly 100 acres) of vacant land preapproved for commercial and residential zoning, with access to city water, sewer, and services.

The ability to invest in property ranging from a village lot to larger acreages.

For investors interested in rental income; management of rental homes or multifamily opportunities with rents proven at about $1/sq ft per month or better.

Current home and land prices reflective of the Napa Valley in 1990 — additional appreciation practically guaranteed because of continuing investment and growth of amenities.

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