Grandridge Meadows
Newly constructed 16-unit multifamily community in Grandview, WA featuring spacious 2-bedroom, 2-bath residences, strong in-place cash flow, and excess land for up to 30 additional units. Grandridge Meadows offfers a rare opportunity to acquire a high-quality asset with development upside in an undersupplied Lower Yakima Valley market.
New Construction Community
Completed in 2025, Grandridge Meadows offers 16 spacious 2-bedroom, 2-bath units averaging 963 SF. Designed with modern finishes, open layouts, and thoughtful floorplans, the property provides a level of quality rarely found in the Grandview market, appealing to renters seeking contemporary living at an attainable price point.
High Visibility & Professional Presentation
The property features attractive curb appeal with contemporary exterior architecture and professional monument signage, providing a polished look and heightened street presence along Grandview’s main commercial corridor.
Excess Land Included with Development Potential
Situated on 2.05 acres and zoned R3, the property includes additional land with potential to develop up to 30 more units on the same parcel. Investors can capitalize on inplace infrastructure and scale operations in a market that supports workforce housing and modest rental growth.
Rare High-Quality Product in a Tertiary Market
Grandview’s multifamily stock is largely dated or smallscale. This offering stands apart as a rare opportunity to acquire a high-quality, fully stabilized asset in a growing agricultural hub. With leased rents at $1,885/month and strong regional rent comparables, the project is wellpositioned to outperform in a low-supply market.
Offering Details
Offered at $4,300,000, Grandridge Meadows is a newly constructed 16-unit apartment community in Grandview, WA. Completed in 2025, the property features spacious 2-bedroom, 2-bath units averagine 963 square feet and is fully stabilized with strong in-place rents. The offering also includes excess land with the potential to develop up to 30 additional units.
Access DocumentsProperty Summary
Property Name
Grandridge Meadows
Address
1007 Grandridge Road
City, State, Zip
Grandview, WA 98930
Year Built
2025
Parcel ID
230923-43477
Zoning
R3
Acreage
Ground Lease of 2.06 acres
# of Units
16 + Excess land for 30 additional units
SF Per Unit
963
Net Rentable Space
15,408 SF
Pricing Summary
Price
4300000
Price / Unit
$268,750
Current CAP Rate
6.29%
Proforma CAP Rate
6.54%
The Opportunity
New Construction with Expansion Upside
Grandridge Meadows is a boutique, newly constructed multifamily property located at 1007 Grandridge Road in Grandview, Washington. The project comprises sixteen 2-bed, 2-bath loft-style units, each averaging over 960 square feet. With modern finishes, durable construction, and efficient layouts, the property is poised to attract long-term tenants looking for high-quality rental housing without the high urban rent premiums.
The site enjoys a central Grandview location near schools, retail centers, and city services. This strong locational positioning, combined with monument signage and polished exterior design, helps reinforce brand visibility and tenant demand. Current operations create strong support for stabilized market rents of $1,885 per unit with additional RUBS income and lean expenses.
What truly elevates this investment is its future scalability. The property sits on over two acres and includes excess land that could accommodate up to 30 additional units under the current zoning. This creates a compelling opportunity for investors to build on existing momentum, expand footprint, and drive additional value in a historically underserved market with stable fundamentals and growing tenant demand.
The Location
Growing Lower Yakima Valley Market
1007 Grandridge Road, Grandview, WA 98930Photographs
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Market Overview
Grandview, WA
Grandview is a growing Lower Yakima Valley community positioned between Sunnyside and Prosser, with convenient access to regional employment, agriculture, food processing, and distribution. The city's population was estimated at 12,062 in 2025, up from 10,986 in 202, reflecting steady post-census growth in a compact market with limited new housing supply.
The local economy is anchored by agriculture, food storage, processing, and logistics. Major employers and economic drivers include Walmart's Pacific Northwest food distribution center, Kenyon Zero Storage, Welch's Foods, the J.M. Smucker Company, and Cervantes Fruit, supporting a stable workforce and providing a durable foundation for long-term demand throughout the Lower Yakima Valley.
Grandview's demographics support demand for family-oriented rental housing. The city has an average household size of 3.22, with 36.9% of residents under age 18, creating sustained demand for larger apartment floorplans. Combined with its proximity to schools, retail, and major employers, Grandview offers investors a stable tertiary market renter base with limited direct competition from new multifamily product.
Reasons To Invest Here
- 95%
Average Occupancy
Q1 2026
- 6.9%
Unemployment Rate
Q1 2026
- $1,485
Average Market Rent
Q1 2026
- 12k
Population
July 2025
- 9.8%
Population Growth
2020-2025
- $67.8k
Median Household Income
Q1 2026
- 1.6%
Home Price Growth
Last 12 months
- 8.7k
Labor Force
July 2025
Sources available upon request.
Our Team
Multifamily Mason
Multifamily Mason is a brokerage firm specializing in multifamily property sales and advisory services within the Inland Northwest. We uphold the core values of integrity, mastery, and ownership. These principles guide all our business decisions and interactions with our clients, investors, and stakeholders.
Our extensive market knowledge, in-depth data analysis, valuable insights, and strong industry relationships have established us as trusted advisors and a go-to source for those exploring the Inland Northwest markets or investing in multifamily properties within tertiary markets.
We foster long-term relationships and prioritize our clients' best interests, even if it means delaying immediate deals. We believe in collaboration and creating opportunities for mutual success, including working with potential competitors.
Lead Broker
Mason Fiascone
Mason is the founder of Multifamily Mason and specializes in the sale and advisory services of multifamily properties across the Inland Northwest with a specific focus on Central Washington and Tri-Cities. Mason leads the sales and asset management organizations at Multifamily Mason, meaning he partners with owners, investors, and developers seeking to maximize their property returns, bringing valuable expertise to every interaction. He is committed to building long-term relationships by providing clients with market insights and unique deal opportunities.
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