42-Unit Timberwood Value-Add Apartments in Lakewood Hit the Market at $8.15MM

42-Unit Timberwood Value-Add Apartments in Lakewood Hit the Market at $8.15MM

A partially renovated, 42-unit apartment community in Lakewood has come to market at a price that hands the next owner a half-finished renovation program and roughly 36 percent of untapped net operating income upside. Timberwood, a 42-unit multifamily property spread across roughly three acres in Lakewood is on the market for $8,150,000, or about $194,048 per unit. The offering pitches the asset as a value-add play in the South Sound with a reno…