


East Village Apartments
890 Dougherty Dr NE, Castle Rock, Wa
19
Units
Acquisition Date:
Summer 2023
Overview
East Village offered the opportunity to control a low density residential asset in a supply constrained market with strong renter demand. Since acquisition, a targeted improvement program has been executed to enhance the resident experience while maintaining long term affordability, with more than half of the units fully renovated through natural turnover. Improvements include in unit washer and dryers, updated kitchens, new flooring, fresh paint, and modern fixtures. These upgrades have driven total annual rent growth in excess of 38,000 while maintaining occupancy above 95 percent throughout the hold period. All improvements were completed without disrupting investor yield, with monthly cash flow distributions maintained from the start of ownership. With renovated interiors, stable operations, and strong market fundamentals, East Village is positioned as a high performing, low maintenance asset in a growing suburban market.
Location